General Knowledge Quiz Questions & Answers 2025
You may be the best accountant in the world, but if you can’t communicate that you’re best, in a meaningful way, you’ll be passed over for less qualified candidates. The knowledge requirements for answering accountant job interview questions will vary by position. On the balance sheet, the asset account of inventory is reduced by the amount of the write-down, and so is shareholders’ equity. The income statement is hit with an expense in either COGS or a separate line item for the amount of the write-down, reducing net income. On the cash flow statement, the write-down is added back to CFO as it’s a non-cash expense but must not be double-counted in the changes of non-cash working capital.
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War History Trivia
Principle dictates the process and timing by which revenue is recorded and recognized as an item in the financial statements based on certain criteria (e.g., transfer of ownership). The matching principle dictates that the timing of expenses be matched to the period in which they are incurred, as opposed to when they are actually paid. Negative working capital is common in some industries such as grocery retail and the restaurant business. For a grocery store, customers pay upfront, inventory moves relatively quickly but suppliers often give 30 days credit.
A compound journal entry is just like other accounting entries where there is more 242 accounting quizzes online trivia questions and answers than one debit, more than one credit, or more than one of both debits and credits. It is essentially a combination of several simple journal entries. Mary Beth Heuvelmans, CPA, has over 20 years experience in accounting and tax preparation, from tax return preparation to complex accounting for large businesses. Accounting Answers provides Professional CPA, Tax Preparation, and Accounting Services to businesses and individuals in the Madison, WI area.
Which law of physics explains that Force = mass times acceleration?
This is the person who will ask the trivia questions and reveal the answers. If you are playing trivia as a classroom game, the quiz master would usually be the teacher, but you can also designate a student to be the quiz master. Whether it’s for a school activity, a team-building event, or a family game night, feel free to use these questions and answers to add a fun trivia segment to your event. If you’re playing trivia in class, ensure that higher-level and lower-level students are evenly distributed throughout the groups.
Video Games Trivia
They can be used in classrooms, after-school programs, or even at home as a fun learning activity. Gather your friends and family to take part in our general knowledge quiz and see who will be crowned the winner! Thanks to our ‘click to reveal’ answers, even the quiz host can join in. These clients are normal people and not any organizational customers. MIS reports are created to identify the efficiency of any department of a company. Purchase return is a term used to record every defective or unsatisfactory product returned to its supplier.
- A cash discount should be recorded in a journal entry as a reduction of expense in a cash account.
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How many times has The Wizard of Oz been remade?
You can easily find the best Accounting quiz question quickly, We have added all the Accounting trivia questions here on this page. You can also navigate to the next page if there are more questions available for Accounting topic. If yes here we have crafted handpicked Accounting Quiz to test your knowledge.
The information generated through financial accounting helps users make informed decisions about the company’s financial health and performance. Our team have spent hours to researched & analysed Accounting quizzes, and prepared this top list of Accounting trivia questions to help TriviaGate readers. If you wish to take an accounting quiz please do so by first choosing a quiz from the Popular Quiz list below. Note that there is no time limit to answer the questions, and you can have as many goes at answering each question as you like.
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What is the capital of Iceland?
This is a pretty common question that any job-seeker should expect during an initial interview. It’s also a very important question that deserves a well thoughtout answer. The answer you give could make or break your chances of landing the job. Many job-seeker submit their resume to every company that has an open accounting position.
Not only can you enjoy answering fun and educational questions, but you can also take part in real-time quiz battles and tournaments with real people from all around the world. Whether you’re a history buff, a science lover, or just enjoy general knowledge, there’s something for everyone. Whether you’re hosting virtual trivia nights or just vibing with friends, trivia is the way to go! We’ve rounded up 375+ of the best trivia questions of all time, covering everything from pop culture to science. When making a trivia quiz, it’s best to ask a variety of questions on different topics. Some common categories are general knowledge, history, geography, movies, music, literature, and science.
How many time zones are there in Russia?
What employers want to know is that you’re genuinely interested in their company, as well as the best candidate for the position. Once you’ve described to the interviewer the most challenging accounting task you’ve had to solve, it’s pretty certain that the interviewer will then ask how you were able to solve it. When answering this question, make sure you choose a task that you were able to solve. Having the ability to work well with computers, even program, is a big asset for accountants and the firms they work with. I studied both accounting standards in college and relied heavily on on IAS during my last job to make sure all financial reporting was correct. I have access to both IAS and IFRS online and stay abreast of the most recent updates and changes in accounting standards.
