Financial Accounting Assessment Test

Topics covered

Accounting Principles, journal entries, ledgers entries, trial balance, Profit & Loss Statement, Balance Sheet, provisions depreciation, Cash Flow Inventory, Valuation Ratio Analysis

  • MAQ (Multiple Answer Question)
  • MCQ (Multiple Choice Question)
  • Descriptive Question
  • White Board Simulator
  • Coding Simulator
  • Audio Question
  • Video Question
  • Case Study Question

Financial Accounting involves preparation of financial statements and reporting of financial transactions pertaining to any business. Financial Accounting uses standardized guidelines to make financial reports, transactions, income statements, balance sheets, etc. which are used to keep the records.

The Financial Accounting Online test is been designed to assess the candidates in the area of accounting, auditing, financial skills, managing profitability, research skills, etc. This test consists of meaningful questions on Accounting Principles, journal entries, ledgers entries, trial balance, Profit & Loss Statement, Balance Sheet, provisions depreciation, Cash Flow Inventory, Valuation Ratio Analysis and many more. 

Using powerful reporting, you will have detailed analysis of test results to help you make better decisions and predict candidate and employee success.

This pre-employment test is useful for hiring:
  • Financial Accountant
  • Assistant Financial Accountant
  • Financial Reporting Accountant

Test details:

The Financial Accounting test enables employers and recruiters to identify potential hires by evaluating working skills and job readiness. For this reason, emphasis is laid upon evaluating the knowledge of applied skills gained through real work experience, rather than theoretical knowledge.
Questions : 30
Duration : 30 minutes

  • Financial Accounting : The test contains 30 questions on Accounting Fundamentals to assess the candidate in the area of financial accounting.

Financial Accounting Test

Question #1 of 3

Sole traders differ from other types of trading organizations. Which of the following statements correctly summarizes the key characteristics of a sole trader’s business?

    • Liability is limited to the providers of loan finance and only the trader takes an active part in managing the business.

    • The trader has unlimited liability and runs the business in conjunction with the providers of loan finance.

    • The trader has unlimited liability and must have the business accounts audited.

    • The trader has unlimited liability, takes sole responsibility for management of the business and no audit is needed.

Question #2 of 3

Which of the following statements best describes the purpose of financial accounting in a limited liability company?

    • To assist in the day-to-day management of the company.

    • To enable the business to pay the correct amount of tax.

    • To ensure that the business pays the correct dividend.

    • To help the directors discharge their obligations to the shareholders.

Question #3 of 3

A business has prepared its accounts for a financial year and these show a profit of $500,000. The accounts do not include the following items:

• a likely loss on a contract of $25,000
• a possible Court ruling in favor of the company which is likely to increase profits by $10,000 
• a possible Court ruling against the company which could result in damages of between $5,000 to $15,000

Having regard to the fundamental accounting concepts, which of the following revised profit figures is CORRECT when the above factors are taken into account?

    • $480,000

    • $460,000

    • $510,000

    • $475,000

Candidate Name
Assessment Name
Invited by
Assessment Date
IP Address
Status
















24.00 Out of 40.00
Pass
60%
03
23 Minutes

Java EE

9/10

Hibernate

3/10

Oracle PL/SQL

7/10

Analytical Thinking

5/10

Note:If score<= 30% then its a Weakness. If score >=70% then its a Strength.

Strengths

Java EE, Oracle PL/SQL, Analytical Thinking

Weaknesses

Hibernate

Happy

It was a good test for me, the questions were on the latest technology of java on which I am currently working. It was a great experience. Thank you!

Sign up for a free trial today

Get your free trial and test up to 10 candidates. No strings attached. No credit card required.

SIGN UP FOR FREE

Schedule a Demo

How Interview Mocha works?

  • Add this test to your account

  • Invite candidates to take this test online

  • Candidates take the test

  • View and share actionable test reports

Trusted by leading brands worldwide

  • altran
  • credit suisse
  • sephora
  • nielsen
  • capgemini
  • hexaware
Why hiring managers and recruiters across the globe love Interview Mocha
  • Largest number of ready pre-employment skill tests
  • Relevant test compositions and quality questions designed by Subject Matter Experts (IM SME)
  • Fastest custom test creation DNA
  • World’s most super easy skill assessment platform
  • High level of platform security implementation
  • Friendly and quick customer support
  • Ready to listen and implement your feedback, we are all ears
  • Affordable pricing

Sign up for a free trial today

Get your free trial and test up to 10 candidates. No strings attached. No credit card required.

SIGN UP FOR FREE

Schedule a Demo