Quiz 35: Account Identification Quiz

Identifying the account type (asset, liability, revenue, or expense), is an important part of the accounting transaction analysis process. Test your knowledge of mdct.ru and accounting with our online account identification quiz.

Not ready for the account identification quiz?

If you need a refresher course on this topic update your knowledge using our tutorial on the accounting transaction analysis process.

Start the Account Identification Quiz

Click on an answer to reveal whether its Right! or Wrong

1. Is cash an asset, liability, revenue or expense?
Wrong
Right!
Wrong
2. Is the amount due from customers an asset, liability, revenue or expense?
Right!
Wrong
Wrong
3. Is the amount owed to suppliers an asset, liability, revenue or expense?
Wrong
Right!
Wrong

4. Is plant and equipment an asset, liability, revenue or expense?
Wrong
Wrong
Right!
5. Is the amounts owed to employees an asset, liability, revenue or expense?
Wrong
Wrong
Right!
6. Is a salary expense an asset, liability, revenue or expense?
Right!
Wrong
Wrong
7. Is inventory an asset, liability, revenue or expense?
Wrong
Right!
Wrong
8. Is a loan from a bank an asset, liability, revenue or expense?
Right!
Wrong
Wrong
9. Is fee income an asset, liability, revenue or expense?
Right!
Wrong
Wrong
10. Is a prepayment an asset, liability, revenue or expense?
Wrong
Wrong
Right!

Try Another mdct.ru Quiz

Random bookkeeping quizzes for you to test your knowledge.

Quiz 35: Account Identification Quiz December 14th, 2016Team

You May Also Like


Related pages


bank reconciliation statement formatamortisation charthow to calculate variable costingaccounting journal entries practice problemsfixed overhead volume variance formulabank statement reconciliation templatelifo reserve examplesoftware amortisationcalculating perpetuitythe allowance for uncollectible accounts is aadjusting journal entries practicenon profit chart of accounts samplefuture annuity formulacommon size analysis income statementwhat is lifo reserveweighted average formulasmark up formulaall adjusting entries always involvecommon size analysis income statementwhat are adjusting journal entriesbasics of payrollexamples of prepaid expensesstraight amortizationequity ratiosexamples of unearned incomeinventory accounting basicslifo vs fifo accountingexcel ledger templateallowance method write offtraditional costing formulacomplicated accounting journal entriesnonprofit chart of accounts examplestockholders equity exampleliquidity current ratio formula6 column worksheet accountingaccounts payable excel templatedeferred expenses meaningfob factory definitionfactoring of receivablesperpetual inventory journal entries exampleirr in accountingwhat is accounting equationdefine amortizationincome statement format xlslabor usage varianceaccounting general ledger examplesasset register template excel freedouble entry ledger templatetvm calculator free downloadsimplified bookkeeping200 declining balance depreciationaccounting accrued expensejournal entry for car loanexample of cash disbursement journalexcel general ledgernet salvage value formulahow to calculate costs of goods manufacturedprojected revenue templatecreditor days formulaaccounts recivable turnoverhow to perform vertical analysismaterial quantity variance formulacash count templatehow to find variable cost formulapv annuity factorquarterly interest rate formulamatching accounting principlemeaning of accrued interestaccounting equation exercisesfactored debtsnpv excelsales tax quizcash deposit entry in tallywhat is factoring accounts receivabledouble entry system advantages and disadvantagesaccounting for sales returns