ACCOUNTING QUIZZES for Beginners - Bookkeeping Basics Quiz: 20 Questions for Beginners

Get 50% off QuickBooks Bill Pay for 3 months 👉 https://geni.us/quickbooksbillpay If you’re learning bookkeeping, this quiz is for you! I’ll test your knowledge with 20 multiple choice questions covering bookkeeping basics for beginners. We’ll go through key topics like separating business and personal transactions, choosing a bookkeeping system, single vs double-entry bookkeeping, debits and credits, cash vs accrual accounting, recording transactions, the chart of accounts and bank reconciliations. Each question is explained clearly so you understand the logic behind the answer, not just whether you got it right or wrong. This quiz will help you build a strong foundation in bookkeeping and see how everything connects, from setting up your system to recording, sorting, and storing transactions properly. Grab a pen, play along… and don’t forget to share your score in the comments! 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 00:24 - Q1: Bookkeeping is the process of ______. 00:51 - Q2: Why should you keep the business and personal accounts separate? 01:24 - Q3: A business has around 10 transactions per month and wants the cheapest workable bookkeeping system. What should it choose? 01:56 - Q4: A Bookkeeping System is a ______. 02:24 - Q5: Which record is commonly used in a Single-Entry Bookkeeping System? 02:48 - Q6: Which Bookkeeping System uses debits and credits to record transactions? 03:15 - Q7: In Bookkeeping, what is a bill? 03:40 - QuickBooks Bill Pay 04:43 - Q8: In Double-Entry Bookkeeping, total debits must equal total credits because _____. 05:25 - Q9: A business buys a computer for $1,000 and pays immediately from its bank account. How should it record the transaction? 06:02 - Q10: In Cash Accounting, expenses are recorded _____. 06:26 - Q11: A business invoices a customer on April 30th for $500. The customer pays on May 10th. Under Cash Accounting, when should the revenue be recognized? 07:00 - Q12: A business receives an electricity bill for June on June 28th and pays it on July 15th. Under Accrual Accounting, when should the expense be recorded? 07:32 - Q13: How are transactions formally recorded in bookkeeping? 08:00 - Q14: You can’t find a receipt for a recent purchase. What should you do? 08:42 - Q15: Which term describes an organized list of every account held in a business's General Ledger? 09:14 - Q16: A business pays $60 for an internet service. Which category should the internet costs be recorded under in the Chart of Accounts? 09:42 - Q17: How long should bookkeeping records typically be kept for? 10:13 - Q18: Which term describes comparing the Cash Book to the Bank Statement to check for differences? 10:43 - Q19: During a Bank Reconciliation, you find a $15 bank fee on the Bank Statement that isn’t included in the Cash Book. What should you do? 11:17 - Q20: What is the most effective way to budget for tax? 11:47 - Bonus Question: You record the same transaction twice by mistake. What should you do? 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mfchsgfw8z ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🚶FOLLOW ME ON ▪ Instagram → https://www.instagram.com/accountingstuff ▪ TikTok → https://www.tiktok.com/@accounting_stuff ▪ Facebook → https://www.facebook.com/accountingstuff ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #bookkeeping #bookkeeepingquiz #accountingstuff