Accounting Quiz
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Question 1 |
What is the abbreviation for the accounting terms Debit?
A | “dw” |
B | “ds” |
C | “dr” |
D | “de” |
Question 2 |
What is abbreviation for the accounting terms credit?
A | “cw” |
B | “cr” |
C | “ce” |
D | “cs” |
Question 3 |
What is a statement that states all the liabilities and assets of the company at certain point?
A | Account sheet |
B | Work sheet |
C | Record sheet |
D | Balance sheet |
Question 4 |
TDS indicates
A | Tax Declaration at Source |
B | Tax Deduction at Source |
C | Tax Deduction at System |
D | Tax Description at Source |
Question 5 |
Inactive and dormant accounts are the same thing ?
A | No |
B | Yes |
Question 6 |
VAT stands for
A | Value Added Tax. |
B | Value Active Tax. |
C | Value Address Tax. |
D | Valid Active Tax. |
Question 7 |
What is ICAI?
A | Institute of Chartered Accounting in India. |
B | Institution of Chartered Accountants in India. |
C | Income of Chartered Accountants in India. |
D | Institute of Chartered Accountants in India. |
Question 8 |
What is specifically designed for the business that offers services to users?
A | Public accounting |
B | Corporate accounting |
C | Offset accounting |
D | Executive accounting |
Question 9 |
Name of accounting which offers audits and CPAs to review company financial records to ensure accountability.
A | Offset accounting |
B | Private accounting |
C | Public accounting |
D | Executive Accounting |
Question 10 |
CPA stands for
A | Certified Protected Accountant. |
B | Certified PersonalAccountant. |
C | Certified Private Accountant. |
D | Certified Public Accountant. |
Question 11 |
As per _________________, a company has to show the value of all of its assets in terms of price on balance sheet on which that asset can be sold
A | Public Accounting |
B | Private Accounting |
C | Offset accounting |
D | Fair value accounting |
Question 12 |
Select an invalid type of accounting
A | Financial Accounting |
B | Management Accounting |
C | Cost Accounting |
D | Debit Accounting |
Question 13 |
Process of checking that whether all these events have been noted down correctly or not.
A | Auditing |
B | Accounting |
C | Managing |
D | Recording |
Question 14 |
What means to equate both sides of the T-account?
A | Balancing |
B | Comparing |
C | Partitioning |
D | Auditing |
Question 15 |
Type of accounting the decreases the net amount of another account to create a net balance.
A | Fair value accounting |
B | Offset accounting |
C | Public Accounting |
D | Private Accounting |
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