Introduction to Accounting MCQs

True Tamplin

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

This multiple choice question (MCQ) test covers the topic of introduction to accounting. You can use these MCQs to help prepare for your exams, interviews, and professional qualifications.

To begin the quiz, simply quick on the “Start Quiz” button below. If you find any questions difficult, consider reading our introduction to accounting in the explanation section of the website.

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Frequently Asked Questions

What is Accounting?

Accounting is the process of recording, classifying, and summarizing financial transactions to provide helpful information in making business decisions. It is the system that businesses use to track their income and expenses.

What are the basic steps in Accounting?

Businesses need Accounting to track their financial performance and make informed decisions about their business operations. Accounting information can help companies plan for future growth, assess their current financial position, and make decisions about pricing, investment, and other strategic decisions.

What are the basic steps in Accounting?

What are the basic steps in Accounting?

What is the difference between Bookkeeping and Accounting?

Bookkeeping is recording financial transactions in journals and posting them to ledgers. Accounting is the process of recording, classifying, and summarizing financial transactions to provide helpful information in making business decisions. Bookkeeping is a subset of accounting.

Are there any particular software programs that businesses use for Accounting?

No, businesses can use any software program they prefer to track their financial transactions. However, some software programs are specifically designed for accounting.

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.

10 thoughts on "Introduction to Accounting MCQs"

  1. Sir please provide the latest mcqs of accounting related to the today’s entry test for different jobs. Thanks I m m.com student

  2. Why you wrote relevance as timeliness you know surveys provide questions which are simple and understandable according to students chapter. It’s just an introduction of accounting chapter and you should ask according to your website title. If want to ask these questions then change your website name to theory questions of accounting for graduated students. I think it’s not for 11 or 12 students.

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