Adjusting Entries MCQs 1

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 26, 2023

This is the first multiple choice question (MCQ) test on adjusting entries. This MCQ test will help you to prepare for your exams, interviews, and other assessments.

Just click the "Start quiz" button below to begin the quiz. If you find it difficult to answer any of these questions, you can learn more about adjusting entries on our website.

1. The entries required at the end of the period to update the accounts before preparing financial statements are known as:
2. An expense paid in advance is called:
3. Which of the following statements is most appropriate?
4. Which of the following correctly represents the sequence of the accounting cycle?
5. A prepaid expense represents:
6. Accrued expenses are:
7. The balance in an unearned rent account at the end of an accounting period represents:
8. The purpose of adjusting entries is to:
9. A portion of income received in advance is called:
10. On a balance sheet, outstanding expenses are shown as:
11. The adjusting entry for outstanding rent is:
12. Which one of the following is a correct adjusting entry to record depreciation on furniture?
13. Accrued revenue is revenue that:
14. Outstanding expenses represent:

You may also check:

Adjusting Entries MCQs 1 FAQs

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®), author of The Handy Financial Ratios Guide, 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 or view his author profiles on Amazon, Nasdaq and Forbes.