Financial Accounting Online Test

Candidates Assessed

21846+

Organisations Served

127+

iMocha’s financial accounting assessment test enables recruiters and hiring managers to hire job-fit candidate within a short period & take unbiased hiring decision. This test is useful for hiring Financial Accountant, Assistant Financial Accountant, and Financial Reporting Accountant. Our test has helped our customers to reduce hiring cost by 40%.

About Financial Accounting Online Test

Financial accounting involves the 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. Financial accounting online test helps recruiters and hiring managers to assess financial accounting skills of the candidates.

Are you a jobseeker looking to sharpen your skills?

Test Summary

The Financial accounting assessment test helps to screen the candidates who possess traits as follows:
  • Good knowledge of accounting fundamentals
  • Experience in accounts receivable and accounts payable
  • Understanding of financial areas like balance sheet, cash flows, accounting principles, etc.
  • Hands-on experience in carrying out certain tasks like journal entries, ledger entries, valuation ratio analysis, etc.
  • Familiarity with data interpretation skills and excel skills
Using powerful reporting, you will have a detailed analysis of test results to help you make better decisions and hire right candidate. This test is designed considering EEOC guidelines, it will help you assess & hire diverse talent without any bias.

Financial accounting test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio/Video Questions, LogicBox (AI-based essay evaluation), Job-based Simulations, True or False Questions, etc.

Test Duration: 25 minutes

No. of Questions: 25

Level of Expertise: Entry/Mid/Expert

Useful for hiring

  • Financial Accountant
  • Assistant Financial Accountant
  • Financial Reporting Accountant

Topics Covered


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Accounting Principles

iMocha’s financial accounting online test helps recruiters and hiring managers to evaluate candidate’s understanding about benefits of generally accepted accounting principles

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Journal Entries

This test helps to evaluate candidate’s ability to maintain journal entries which is a record of business transactions in the accounting system of a business

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Ledgers Entries

Our test assesses candidate’s knowledge about double-entry bookkeeping method that organizes your debits and credits for an account

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Trial Balance

Trial balance report is a list of all accounts in the general ledger and their balances

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Profit & Loss Statement

Our test helps in evaluating candidate’s ability to maintain financial record about profit and loss in business which consists of revenues, costs, and expenses of a business 

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Balance Sheet

This financial accounting assessment test assesses candidate’s understanding about balance sheet record which consists assets and liabilities of a business

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Provisions Depreciation

This test gauges candidate’s knowledge about provision of depreciation term which is a declined value of an asset or entity over period of time

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Cash Flow Inventory

Our financial accounting test helps recruiters and hiring managers to evaluate candidate’s understanding about cash flow statement report which maintains sources and uses of cash by operating activities, investing activities, financing activities

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Valuation Ratio Analysis

This test evaluates candidate’s knowledge about valuation ratios that shows the relationship between the market value of a company and fundamental financial metrics

Sample Questions

Choose from our 100,000+ question library or add your own questions to make powerful custom tests

Question types:

Multiple Option

Topic:

Types of Companies

Difficulty:

Easy


Q 1. Sole traders differ from the 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 the management of the business, and therefore, no audit is needed.

Question types:

Multiple Option

Topic:

Principles of Accounting

Difficulty:

Hard


Q 2. A business has prepared its accounts for a financial year, which shows 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.

With regard to the fundamental accounting concepts, which of the following revised profit figures is correct when the aforementioned factors are taken into account?
$480,000
$460,000
$510,000
$475,000

Sample Report

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