The numbers to be subtracted vary based on the grade. Incorporate this excellent bundle of online subtraction quizzes with questions on horizontal and vertical subtraction with the borrowing and no borrowing feature. Recap addition facts, enjoy the drag and drop activities in dartboard theme, find the missing addends and more. Practice adding horizontally and vertically with and without regrouping. The addition quiz games here feature adding pictures that sum up to 10, single-digit, 2-digit and 3-digit addition drills.

Convert between Fractions, Decimals, and Percents.

Converting between Fractions and Decimals.

Parallel, Perpendicular and Intersecting Lines.

Intercompany transactions are between different legal entities under the same parent control.

Intercompany transactions are eliminated in consolidated parent financial statements.

Intercompany transactions are between two units within the same legal entity.

Which of the following statements is not true about intercompany accounting? Which inventory valuation method reflects the most current market value for inventory on hand?

Federal Accounting Standards Advisory Board (FASAB).

Securities and Exchange Commission (SEC).

Government Accounting Standards Board (GASB).

Financial Accounting Standards Board (FASB).

Which organizations are involved in development of US Generally Accepted Accounting Principles (GAAP)? (Check all that apply.) Which accounts are associated with cost of goods sold?

Debit $100,000 current liabilities, Credit $100,000 current assets.

Debit $100,000 non-current liabilities, Credit $100,000 non-current assets.

Debit $100,000 current asset, Credit $100,000 non-current liabilities.

Debit $100,000 non-current asset, Credit $100,000 non-current liabilities.

What would the journal entry be for a company that takes out a five-year, $100,000 business loan?

As a use of cash in the 'cash from operating activities' section.

As a use of cash in the 'cash from investing activities' section.

As a source of cash in the 'cash from financing activities' section.

As a source of cash in the 'cash from investing activities' section.

When a company purchases property, plant, and equipment, how is it reflected on the statement of cash flows?

Accounts receivable are more easily collected as time passes.

The time value of money is a finance concept, not relevant in accounting.

Balance sheets reflect a company’s financial position at a certain point in time.

Current liabilities are debts payable within 2 years.

When are liabilities recorded under the accrual basis of accounting?

Company A records the loan as a liability.

A note receivable is recorded in non-current assets.

Accounts receivable increases because of the interest.

No result because the customer didn’t pay.

The customer makes a promissory note to Company A that extends payment over a 24-month term including 5% interest. What is the result of the following transaction for Company A? Company A’s customer is unable to pay for a previous credit sale in accordance with Company A’s 90-day payment terms. Which of the following must a certified public accountant (CPA) have in-depth knowledge of to pass the CPA licensing exam? (Check all that apply.)

Office supplies are purchased with cash.A supplier delivers raw materials on credit.Which of the following scenarios increases accounts payable? How are a company’s financial statements used? What are the main sections on a balance sheet?

Record bad debt expense on the income statement.

Record revenue at the same time as accounts receivable.Accounts receivable become more valuable over time.Ī company that uses the cash basis of accounting will:.Accounts receivable are generated when a customer makes payments.Accounts receivable increase by credits.Accounts receivable are found in the current asset section of a balance sheet.Which of the following account types increase by debits in double-entry accounting? The income statement, which presents the results of operations, can be prepared in many forms including: Which of the following is not a core financial statement? Answers with explanations are at the end of the test. The 35 questions include many topics covered in a typical Accounting 101 class. Take this short quiz to assess your knowledge of basic accounting. East, Nordics and Other Regions (opens in new tab)

Basic math practice test