Accounting Specialist Practice Test


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Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for your improvement.

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The hiring process for most accounting positions includes an accounting or assessment test. Even if you have a degree in accounting, acing these tests requires preparation. JobTestPrep's Accounting PrepPack™ includes practice tests, simulated test questions with full explanations, score reports, and more.

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Free Accounting Practice Tests. Our completely free Accounting practice tests are the perfect way to brush up your skills. Take one of our many Accounting practice tests for a run-through of commonly asked questions. You will receive incredibly detailed scoring results at the end of your Accounting practice test to help you identify your

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Estimated Reading Time: 4 mins
Published: May 07, 2018
1. The Statement of Profit and Loss is also called the* Balance Sheet. Income Statement. Statement of Cash Flows. Statement of Financial Position.
2. Which of the following is not a type of cash flows shown in the Cash Flow Statement?* Operating cash flow. Investing cash flow. Accounting cash flow. Financing cash flow.
3. Which of the following is not a current asset?* Cash. Accounts receivable. Inventory. Property, plant, and equipment.
4. What are the effects on the balance sheet when a company borrows a two-year bank loan of $1,000?* $1,000 credit in current liabilities; $1,000 debit in current assets.
5. What happens to the balance sheet when a company makes sales of $500, of which $300 is paid in cash and $200 is sold on credit?* $300 debit in cash; $200 debit in accounts receivable; $500 credit in retained earnings.
6. What happens to the balance sheet when a company pays salaries of $5,000?* $5,000 credit in cash; $5,000 debit in accounts payable. $5,000 credit in cash; $5,000 debit in retained earnings.
7. Which of the following is the correct formula to calculate operating income?* Operating income = Revenue - Direct operating cost. Operating income = Revenue - Indirect operating cost.
8. Given the following Balance Sheet extract, calculate the net profit on the Income Statement. (Assuming tax rate = 10% of operating profit)* 37 25 21 33.
9. Company A used $3,000 worth of office supplies this year but the costs were not paid for until next year. Which of the following is not a result of this transaction?*
10. Company B purchased an equipment for $600. The equipment has a useful life of 4 years and a scrap value of $50 at the end of year 4. What is the depreciation expense for year 1 (using straight line method)?*

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Individuals can use these bookkeeping and accounting tests and quizzes to test their accounting and bookkeeping knowledge. The tests are provided for self-evaluation purposes and no certification certificates are provided. These bookkeeping exams can also be used to help employers evaluate a prospective employee's accounting and bookkeeping knowledge and …

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Accounting tests even more so. 5. Sharpen your maths skills. Strong maths skills are required to do well in accounting tests, so sharpen your numeracy skills and practice numerical reasoning tests. This will help ensure you feel confident going into your test and not overwhelmed by the numbers or methods needed to solve the questions.

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Free accountant sample test questions to practice and assess your readiness for the real exam applicable to civil service, government, private and private sector, certification accounting exam.

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Accounting 1 Practice Tests. Chapters 1 and 2. Answers. Chapters 3 and 4. Answers. Chapters 5 and 6. Answers. Chapters 8, 9 and part of 10. Answers.

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1. Two taxpayers married on November 30. That same year, the husband enrolled in an accredited college to further his career and subsequently received a Form 1098-T, Tuition Statement. The wife was employed with an income of $45,000 and paid for the husband's education expenses.

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If you have difficulty answering the following questions, learn more about this topic by reading our Bookkeeping (Explanation). 1. The two main methods of bookkeeping and accounting are 1) the cash method, and 2) the. method. 2. -entry bookkeeping means that every transaction will affect two or more accounts. 3.

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Sample Test for Financial Accounting Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. In the annual report, where would a financial statement reader find out if the company’s financial statements give a fair depiction of its financial position and operating results? a.

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The Accounting and Finance test evaluates a candidate’s ability to measure, process, and communicate the financial information of a business or corporation.. This assessment can be used as an accounting test for pre-employment screening of candidates applying for a variety of roles, including staff accountant, financial accountant, and management accountant, or as a …

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Certified Management Accountant Exam Practice Test. This certification exam is designed to enhance the knowledge and skills of accountants, as well as increase credibility in the industry, and potential earnings. There are two parts to this exam. Part 1 is Financial Reporting, Planning, Performance, and Control.

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The accounts payable test is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping, discover another at the links below. Quiz 25: DuPont Equation Quiz. Quiz 53: Identify the Debit Entry. Quiz 10: Bank Reconciliation Test. Quiz 11: Ratios in Accounting.

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Below are free Kenexa accounting sample questions that are indicative of the kinds of questions you will meet when you do the real Kenexa Prove It accounting test, or any other accounting test. You can test your knowledge with the following questions, or start preparing for the test using our full practice pack allowing you to see where you can

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A crystal ball for job success. Predict real-world job performance using our library of more than 150 scientifically validated tests. Test candidates for job-specific skills like coding or digital marketing, as well as more general skills like critical thinking.

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Take Vskills Practice Test in Accounting with MCQ on Accounting Fundamentals, GAAP, Tally ERP9, Cost Accounting, IFRS, GST. Upgrade your professional skills!

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Frequently Asked Questions

What accounting tests does jobtestprep offer?

JobTestPrep offers the Accounting Bundle Pack™, which includes accounts receivable, accounts payable, bookkeeping, and general accounting tests. Try our free sample accounting questions, or get the full Accounting Bundle Pack™ and start preparing today.

What are accounting exams and testing?

Accounting Exams and Accounting Tests Businesses are looking for bookkeepers and accountants who possess fine attention to detail in their work. Accounting tests are designed to measure your ability to process and analyze data.

What is the bookkeeping practice set course?

Baldy’s Barber Shop bookkeeping practice set course was made to provide the accounting and bookkeeping student with an overview of how the manual concepts taught in an introductory accounting course can be applied to a manual and computerized accounting system.

What kind of aptitude tests do accountants use?

This article covers the typical aptitude tests used by accounting firms, which often focus on numeracy. Competition is fierce, so getting the relevant practice to improve your performance will aid your chances of getting hired. What skills do accountants typically need?

What is an accounting and bookkeeping practice set?

An accounting and bookkeeping practice set is the best way for students to learn the practical skills essential to accounting by completing a one month accounting cycle for a fictional business.

Which companies use accounting and bookkeeping tests?

While many financial and accounting firms utilize these tests, they areprimarily used by agencies or assessment companies (such as Robert Half, AppleOne, Randstad, Kforce, and Aerotek ). Accounting and bookkeeping tests are usually comprised of around 40 multiple-choice questions that focus on job-specific requirements and responsibilities.

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