Accounting Questions

One of the most important things for accounting students is to practice questions. For this reason I've created a section on this website dedicated to accounting questions, and in this section you can pick and choose from various tests, exercises and exams.

Here are some of the options...

Basic Accounting Tests

Basic accounting test

First up is a free basic accounting test. This short test covers the first theory section of this site, Basic Accounting Concepts, and it'll thoroughly test your understanding of the accounting equation and its various elements.

Accounting Exercises

Accounting Basics book

In addition to containing all the lessons on this site plus extra lessons on topics such as bad debts, depreciation, bank reconciliations and adjusting and closing entries (not covered on this site), the official Accounting Basics for Students Basic Accounting Book also contains 88 accounting questions and exercises. These accounting questions cover all the accounting basics and can get you thoroughly prepared for your exams. They are not available on this site, only in the book.


Accounting Exams

Accounting Exams

Whether you're studying bookkeeping, financial accounting or even managerial and cost accounting, these series of accounting exams and materials from AccountingCoach Pro will thoroughly test your knowledge on each subject.

Student Questions

Fellow students have published hundreds of their own questions and exercises on this site on specific accounting topics, which you can look through and try to solve on your own! Search for these free accounting questions by using the site search bar on the top right of your screen. Just enter your search term and all pages on this site containing that term will show up. And, if you'd like, submit your own accounting questions at the bottom of this page...





Ask Us a Question About This Lesson

Still scratching your head after going through this lesson? No problem. Send us a question you have relating to this lesson or topic...

Before you submit though, it's a good idea to search the site to make sure your question hasn't been asked (and answered) before... just use the search feature at the top-right of your screen to search the site for any accounting topic. If after searching the site your accounting question has still not been answered, then submit it here.

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Read Other Questions Relating to This Lesson
(along with their answers)

Click below to see questions and solutions on this same topic from other visitors to this page...

Journal Entry Question:
Basic Expense 
Prepare the journal entry for the following transaction: Paid rent 200

Accounting Prerequisites 
Q: What are the things I need first to begin studying accounting? A: Mot sure exactly what you mean here Juana. If you mean if you need to have …

Example of a Liability? 
Give an example of a liability.

Groff Profit Percentage Question 
Q: The following information relates to 20.6/20.7 financial year of ABC: Sales 150,000 Purchases …

General Ledger:
Debit Rent Credit What? 
Q: Paid office rent is a debit to rent expense - what would the credit be?

Journal Entry: Cash Purchase of Goods 
Bought goods for cash $23000, how will i post it?

Stock Accounting 
Briefly detail your understanding of the use and purpose of balance sheet accounts in stock accounting...

Trial Balance Should Always Balance? 
Should the debit and credit totals of a trial balance always agree? If so, why ?

The Best Accounting System 
"The best accounting system provides managers with all the information they would like to have." Do you agree with this statement? Why or why not?

T-Accounts, Adjusting & Closing Entries, Trial Balance and Financial Statements Exercise 
ASSIGNMENT Οn October 1, 20xx, Jason Dauphinais opened Dauphinais Appliance Serνice. During the month, he completed the following transactions for …

debtors control 
Hi, When posting to the general ledger from the cash receipts journal, you post to the credit side. Is this because debtors control and settlement discount …

Accounting Equation Exercise 
Lynn Shackelford is the owner and operator of Galaxy LLC, a motivational consulting business. At the end of its accounting period, December 31, 2011, Galaxy …

Calculating the Liquidity Ratio 
Q: How do you calculate the liquidity ratio?

Accounting for Debit and Credit Card Transactions  
How do you account for purchases made by debit or credit card?

Insurance Claim Journal Entry 
An asset of Mr. X's was destroyed by fire on 1.08.09. the following particulars are ascertained from the book and records: - Stock at count as on 31.3.08 …

Manufacturing Costs Question
(The cost of raw materials purchased during the year) 
Please help me with the following manufacturing costs question: Inventories Beginning …

Bad debts in Cash Flow Statement? 
Q: Where is the writing off of bad debts entered on the cash flow statement? Thanks, Katrien A: It's not in the cash flow statement as it's …

Accounting Errors in the Workplace 
Q: In a workplace environment, if after many attempts, you are unable to correct an error that has been made, what should you do?

Accounting for Donations 
Q: An organization recently got a donation of a Motor Vehicle purchased for $40,000. How does the receiving organization account for it?

Debtors Control - Credit Balance? 
Q: Is it possible for a debtor to have a credit balance?

Debits and Credits:
Why Liabilities on Credit Side? 
Q: Hi, can you please explain to me WHY it is a general rule that increased liabilities would be on the credit side of a double entry equation??? Can't …

Contingent Liability 
Q: What do you mean by contingent liability?

Trading account (Cost of Goods Sold Formula) 
Q: What is the formula for Cost of goods sold in terms of sales?

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