CHƯƠNG 1 – GIỚI THIỆU KẾ TOÁN TÀI CHÍNH

1. What is the correct accounting equation?

a. Assets = Liabilities – Capital

b. Assets = Capital – Liabilities

c. Assets = Capital + Liabilities ✅

d. Liabilities = Assets + Capital

2. What does financial accounting primarily report?

a. Internal management decisions

b. Production costs

c. Financial performance and position ✅

d. Marketing plans

3. Which of the following is not a financial statement?

a. Balance Sheet

b. Trial Balance ✅

c. Income Statement

d. Cash Flow Statement

4. Who are users of financial statements?

a. Only owners

b. Only banks

c. Only tax inspectors

d. Owners, banks, suppliers, investors ✅

5. What is the objective of financial accounting?

a. Minimize tax

b. Provide financial information for decision making ✅

c. Pay salaries
 d. Reduce expenses

6. Which of the following is an example of an asset?

a. Wages

b. Accounts payable

c. Inventory ✅

d. Rent expense

7. Which of the following is a liability?

a. Account receivable

b. Bank loan ✅

c. Computer

d. Cash

CHƯƠNG 2 – GHI NHẬN GIAO DỊCH

8. Which statement best defines a transaction?

a. An event that involves only one party

b. Any event recorded in a diary

c. An exchange that affects the accounting equation ✅

d. A verbal agreement

9. In double-entry bookkeeping, every transaction affects:

a. One account

b. Two accounts ✅

c. Only assets

d. Only liabilities

10. A form of settlement received is always a:

a. Credit

b. Debit ✅
 c. Liability

d. Capital

11. What is the correct double entry for purchasing a computer in cash?

a. Dr Cash, Cr Computer

b. Dr Equipment, Cr Cash ✅

c. Dr Expense, Cr Equipment

d. Dr Capital, Cr Bank

12. Which type of account usually has a debit balance?

a. Revenues

b. Liabilities

c. Expenses ✅

d. Capital

13. Which is the normal balance for the capital account?

a. Debit

b. Credit ✅

c. Both

d. None

14. Which transaction results in: Dr Cash, Cr Receivable?

a. Payment to supplier

b. Customer pays debt ✅

c. Owner invests capital

d. Bank loan received

15. The primary purpose of the trial balance is to:

a. Prepare income tax

b. Check arithmetic accuracy ✅

c. Pay employees
 d. Issue invoices

16. What is the effect of a drawing of $500 cash?

a. Dr Drawings, Cr Cash ✅

b. Dr Cash, Cr Drawings

c. Dr Capital, Cr Bank

d. Dr Expense, Cr Cash

CHƯƠNG 3 – HÀNG TỒN KHO

17. Which account is debited when goods are purchased?

a. Sales

b. Cash

c. Purchases ✅

d. Capital

18. Which account is credited when goods are sold?

a. Purchases

b. Inventory

c. Sales ✅

d. Cash

19. Return of goods by customers is recorded in:

a. Sales account

b. Return inwards account ✅

c. Return outwards account

d. Purchases account

20. Return of goods to suppliers is recorded in:

a. Sales

b. Return inwards
 c. Return outwards ✅

d. Inventory

21. Goods bought for resale are recorded as:

a. Drawings

b. Expenses

c. Purchases ✅

d. Fixed assets

22. Sales for cash are recorded as:

a. Dr Cash, Cr Sales ✅

b. Dr Sales, Cr Cash

c. Dr Bank, Cr Purchases

d. Dr Sales, Cr Capital

23. Purchases on credit are recorded as:

a. Dr Purchases, Cr Capital

b. Dr Purchases, Cr Payables ✅

c. Dr Payables, Cr Purchases

d. Dr Cash, Cr Purchases

CHƯƠNG 4 – DOANH THU, CHI PHÍ & LỢI NHUẬN

24. Profit is calculated by:

a. Revenue + Expenses

b. Revenue – Capital

c. Revenue – Expenses ✅

d. Assets – Liabilities

25. What is the correct double entry for paying rent in cash?

a. Dr Rent Expense, Cr Cash ✅

c. Dr Rent Expense, Cr Revenue

d. Dr Cash, Cr Rent Expense

26. What happens when you receive commission in cash?

a. Dr Commission income, Cr Cash

b. Dr Cash, Cr Commission received ✅

c. Dr Revenue, Cr Commission

d. Dr Revenue, Cr Capital

27. Which of the following increases capital?

a. Loss

b. Drawings

c. Revenue ✅

d. Wages

28. Drawings are:

a. Revenue

b. Expense

c. Deduction from capital ✅

d. Not part of accounting

29. If expenses > revenue, then:

a. Capital increases

b. Business breaks even

c. Profit is positive

d. Loss is incurred ✅

30. Which of the following is not an expense?

a. Wages

b. Electricity bill
 c. Rent received ✅

d. Water bill

CHƯƠNG 5 – BALANCING-OFF ACCOUNTS

31. What is the purpose of balancing-off an account?

a. To prepare a new journal

b. To match revenue with expenses

c. To find the final balance and carry it forward ✅

d. To post entries to the income statement

32. A debit balance on an account indicates:

a. The account is overdrawn

b. The entity owes money

c. The entity is owed money ✅

d. The account is closed

33. What do double lines under totals signify in a T-account?

a. Account has been closed ✅

b. Trial balance is correct

c. Account is inactive

d. Balance is missing

34. Creditors are shown in the financial statement as:

a. Assets

b. Revenue

c. Current liabilities ✅

d. Expenses

CHƯƠNG 6 – TRIAL BALANCE

a. Profit and loss are equal

b. All invoices are matched

c. Total debits = total credits ✅

d. Cash is fully recorded

36. Which of the following will not affect the agreement of a trial balance?

a. Omission of a transaction ✅

b. Entering debit and credit unequally

c. Recording one side only

d. Addition errors

37. When is the trial balance usually prepared?

a. Every day

b. Before the journal is posted

c. After preparing income statement and balance sheet

d. At the end of the accounting period ✅

38. Closing inventory appears:

a. In the ledger

b. In the trial balance

c. Below the trial balance ✅

d. In the cash book

CHƯƠNG 14 – INCOME STATEMENT

39. The formula for gross profit is:

a. Revenue – Expenses

b. Sales – Cost of goods sold ✅

c. Capital + Net income

40. Net profit is:

a. Sales – Purchases

b. Gross profit – Revenue

c. Gross profit – Expenses ✅

d. Total assets – Liabilities

41. What is the purpose of the income statement?

a. To check cash flows

b. To find assets

c. To show profit or loss ✅

d. To show liabilities

42. How does net profit affect capital?

a. No effect

b. Increases capital ✅

c. Decreases capital

d. Adds to liabilities

CHƯƠNG 15 – BALANCE SHEET (SOFP)

43. Which of the following is a non-current asset?

a. Cash

b. Accounts receivable

c. Equipment ✅

d. Inventory

44. Current assets are listed in what order?

a. Alphabetical

b. From largest value to smallest

d. Random order

45. What does the balance sheet show?

a. Financial position on a specific date ✅

b. Profits over a year

c. Cash flows over time

d. Tax obligations

46. Capital in the balance sheet is calculated as:

a. Assets – Liabilities ✅

b. Liabilities – Assets

c. Revenue – Expenses

d. Current assets – Current liabilities