Free Personnel Test Sample Questions for all Accounting Jobs

Free Personnel Test Sample Questions for all Accounting Jobs

 

After the success of my blogs on Wonderlic Free Personnel Test Sample Questions and Administrative Jobs Practice Sample question, I will create this blog for practice tests in accounting jobs.

Accounting - Multiple Choice Tests

Free Personnel Test Sample Questions are aimed at levels 1 and 2. 

 Level 1 - Basic Awareness

Description of Test:

A multiple choice test that measures proficiency level 1, containing 33 questions where you choose the correct answer from among 4 choices.

Time limit for test: 40 minutes

What is measured?

Accounting principles, techniques and/or practices, including: the purpose and interrelationship of financial statements (i.e., balance sheet, income statement), general ledger, journal entries, and CICA Handbook

  Pass Mark: You must score 17 or greater to attain level 1 proficiency.

Level 2 - Basic capability

Description of Test:

A multiple choice test that measures proficiency level 2, containing 33 questions where you choose the correct answer from among 4 choices.

Time limit for test: 40 minutes

What is Measured: Accounting principles, techniques and/or practices, including: financial statements, journal entries

GAAP, Books of Account, and Organizations

Pass Mark: You must score 18 or greater to attain level 2 proficiency.

 

Sample Test Questions:

Accounting Multiple-choice test

Practice questions have been provided for the technical competency accounting. Try the test. Answers are provided in the end.

Level 1

Question 1

All of the following items are considered part of the owner's equity, EXCEPT:

a. capital

b. drawings

c. net income

d. dividends

Question 2

The purpose of a balance sheet is to:

a.show the financial position of the business on a particular date

b.show the net income for a particular period

c.show the fair market value of the business on a particular date

d.summarize all accounting transactions for the year

Question 3

Chris, the owner of a french fry proprietorship, obtains a loan from the bank for a down payment on a cottage.  How should this be reflected on the financial statements of Chris's French Fries?

a. asset

b. liability

c. asset and liability

d. none of the above

Question 4

The correct sequence of presentation of items on the income statement is:

a. revenue, expenses, extraordinary items

B .expenses, revenue, extraordinary items

c extraordinary items, revenue, expenses

d .extraordinary items, expenses, revenue

Question 5

Net income equals:

a. assets - liabilities

b. liabilities - owner's equity

c. revenue + expenses

d. revenue - expenses

Question 6

Financial statements are used by:

a.creditors

b.tax authorities

c.investors

d.all of the above

Question 7.

 The posting reference in the ledger tells:

a.the page of the ledger that the account is on

b.the date of the transaction

c.whether it is a debit or a credit entry

d.the page of the journal where the entry can be found

 

Answer

1.d

2.a

3.d

4.a

5.d

6.d

7.d

 

  

Level 2- Free Personnel Test Sample Questions

Practice questions have been provided for the technical competency accounting

8. Question

An error in determining year-end inventory will cause a misstatement of:

a. cost of goods sold

b. gross profit

c. net income

d. all of the above

9. Question

ABCD Appliance Repair completed repairs of $150 on a customer's dishwasher on June 28th.  Invoice and payment are both made on July 7th.  As of June 30th, the $150 is:

a. a prepaid expense

b. an accrued revenue

c. unearned revenue

d. an accrued expense

10. Question

 On December 1st, fees earned were credited for $24,000, representing six months of revenue for the period December 1st to May 31st.  On December 31st, the company should:

a. credit fees earned for $20,000

b. debit unearned fees for $20,000

c. debit fees earned for $20,000

d. credit unearned fees for $4,000

11. Question

In 1999, an equipment owner sold a front end loader for $75,000, with a book value of $100,000 and accumulated depreciation of $70,000.  What is the accounting gain/loss on the sale of the loader?

a. ($25,000)

b. $30,000

c. $75,000

d. $45,000

12. Question

What is the next number in the sequence? 8, 12, 16, 20, ___

13.  Question

7.95 ÷ 1.5

a.2.4, b. 5.3, c. 6.2, d. 7.3, e. 7.5

 

14. Question

. -42 + 7 equal to:

a. -35, b. 35, c. -36, d. 36, e. 37

15. Question

 What is the absolute value of -7?

-7, b. 7, c. 0, d. -1, e. 1

Answer key

8. d

9. b

10. c

11. d

12. 24

13. b

14. a

15.b