Are you a candidate looking to sharpen your skills? Try our practice tests or view sample interview questions & Get hired by the best. Click Here×

Online GAAP Test

Topics Covered

  • Financial Instruments
  • Intangible Reporting Unit
  • Recognizing Revenue
  • Capitalization of Intangibles
  • Provision against NRV
  • Capitalization of Borrowing Costs
  • Deferred Taxation
  • Discontinued Operations

Useful for hiring

  • Sr. Accountant
  • GAAP Accountant
  • Staff Accountant
  • Investment Accountant
  • Audit Associate
  • Accounting Consultant

Start hiring job-fit candidates using this assessment


"We are impressed with Interview Mocha's comprehensive IT skill test batteries and their ability to provide tailor-made assessments quickly. The results we got from Interview Mocha exceeded our expectations, employees found the tests quick, fun, and a benchmark of their knowledge."

Ajay Garg, Siemens,
Associate Manager

Gary Biz Ltd. is planning to issue Financial Instruments of Equity sort in 20X9. However, the Lead Accountant is unsure on how to measure or present that in the Financial Statements, so it is properly in line with GAAP.

The Accountant has asked for you to meet him to discuss how to solve this. Which of the following advice should you provide to him?

    • To measure and present the Equity instrument at amortized cost method in the Financial Statements.

    • To measure and present the Equity instrument at Fair Value with changes in fair value recognized in net income.

    • To measure and present the Equity instrument at a consolidated cost of all expenses.

    • To measure and present the Equity instrument at Historical cost.


Crown Ltd has different sectors or “Reporting Units” of a business. On one night, because of a fire, a particular “Reporting Unit” was heavily affected. It had different assets and different liabilities before the accident occurred. After the accident, it was determined that the segment had to go through an impairment of $80,000.

However, the directors are not sure how to do this and therefore has come to you for help. Which of the following correctly explains how the process should be carried out?

    • The unit (as a whole) should be impaired with goodwill first and then the others on pro rata basis.

    • All assets and liabilities should be processed individually.

    • The total off assets less total liabilities must be ascertained, and then $80,000 will be subtracted.

    • An impairment cannot occur just for a single Reporting Unit, but for the whole business, therefore this is not applicable.


Brand Ltd is planning on discontinuing their operations and has asked you for help on how to proceed with this, especially regarding changes in the Financial Statements. They want to be in line with GAAP. Which of the following is the right process in this regard?

    • They must present a Board Resolution first and then change accounts as per GAAP.

    • They must show all their Fixed Assets as “Held for Sale” current asset and show proper notes to the accounts.

    • They must show a different closing account for the final year where all the profit must be equal to Owner’s dividend distribution.

    • There will be no impact on the financial statements regarding the decision of discontinued operations as per GAAP guidelines.

Good News! You can customize this test as per your requirement

  • Choose and add questions from Interview Mocha question libraries

  • Add your own set of questions

  • Customize test settings like duration, number of questions, passing score, web proctoring and much more

  • Mail us at to create a custom test

Looking for a tailor-made test, to suit your assessment needs?

Get in touch

Global companies using Mocha assessments

  • altran
  • credit suisse
  • sephora
  • nielsen
  • capgemini
  • akamai

How Mocha assessments are brewed

Speed up your IT recruitment with Interview Mocha

  • 500+ IT skill tests
  • 20+ coding languages
  • 50+ domain knowledge tests
  • 100+ digital 2.0 skill tests
  • Customer focus aptitude tests
  • Enterprise ready features & more...

Why hiring managers and recruiters across the globe love Interview Mocha

Take your first step to hire job fit candidates