Skip to content

Home
Courses
Apps
Lessons
Glossary
Quiz
Login

Bookkeeping and Internal Reporting

Home
Bookkeeping and Internal Reporting

Bookkeeping and Internal ReportingAccounting Play 12022-11-07T16:36:48+00:00

Quiz - Bookkeeping and Internal Reporting

1Information

2Question 1-10

Name*
First Last
Email*
Want accounting tips and free accounting cheatsheet?
- Subscribe to our newsletter
Click next button to start the quiz

1. Name one purpose of a bank reconciliation serve:
- Reconcile cash per books to cash per bank
- Reconcile changes in equity
- Reconcile non-cash transactions
- Determine profit or loss
2. Bookkeeper is a standardized and licensed designation:
- True
- False
3. What are accounting records without bank reconciliation?
- Popcorn without butter
- Peanut butter with no jelly
- Milk without cookies
- All of the above
4. What might be reconciled by a bookkeeper?
- Loan balances
- Payroll liabilities
- Cash
- All of the above
5. What is a “transposition” error?
- Incorrect number due to computer error
- Incorrect number due to switching of digits
- Incorrect number due to cute puppies
- Purposeful manipulation
6. Segregation of duties is a sound big business accounting practice:
- True
- False
7. What does segregation of accounting duties generally create?
- Illegal hiring
- Specific and limited authority of accounting positions
- CFO omnipotence
- Dual check signing
8. What may be referred to as the “close”?
- Finalizing the accounting record
- Reconciling cash balances
- Recording payroll liabilities
- Reconciling inventory
9. What may be casually referred to as “rolling up” the financials?
- A bunch of accountants having too much fun
- Combining multiple accounting records to the parent or main record
- Completing all the bank reconciliations
- Eating a delicious, not so nutritious snack
10. A company may use cash basis accounting and still maintain a record of accounts payable:
- True
- False
CAPTCHA

Δ