Accounting Equations MCQs

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on April 29, 2022

Take this quick test on accounting equations to help you prepare for your exams, interviews, or different tests. If you find it difficult to answer any of these questions, you can read about accounting ratios on this website.

This multiple choice question (MCQ) test contains 23 questions. Each question has 4 options and you’ll need to choose the 1 correct option. The results will be shown after you answer the questions and submit the quiz.

Click on the “start quiz” button below.

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Frequently Asked Questions

What are the four types of liabilities?

Businesses typically have four types of liabilities—current liabilities, non-current liabilities, contingent liabilities, and capital.

How do you calculate capital on a balance sheet?

An asset is a resource with economic value that an individual, corporation or government owns and that provides future economic benefit to its owner.

How do you calculate capital on a balance sheet?

How do you calculate capital on a balance sheet?

Who is a creditor and a debtor?

In accounting, a creditor is one who has delivered a product or service, and is owed money by one or more debtors. A debtor is the opposite of a creditor – it refers to the person or entity who owes money.

What is a cash discount?

A cash discount is a price reduction offered by the seller to the buyer.

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

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