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Pratiksha's accounting adventure

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Pratiksha's accounting adventure

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About this activity

This quiz tests basic accounting concepts like depreciation, goodwill, and capital.

Created by

Pratyasha Kalyan dey
Pratyasha Kalyan dey
India

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Pratiksha's accounting adventure
 

Pratiksha's accounting adventureOnline version

This quiz tests basic accounting concepts like depreciation, goodwill, and capital.

by Pratyasha Kalyan dey
1

Depreciation is best described as:

2

What is goodwill in accounting?

3

Capital in accounting refers to:

4

Which statement best defines an asset?

5

Liability is:

6

Which is a current asset?

7

Which is a non-current (long-term) asset?

8

Capital expenditure usually:

9

Which statement describes capital in a business context?

10

Which item is not a liability?

11

What is the primary purpose of a case-based question in this quiz?

12

Which step best improves decision-making in a case study?

13

In a hypothetical data-privacy case, which principle is most important?

14

Case question: A team misses a deadline due to unclear roles. What is the first corrective action?

15

Which metric is most useful to evaluate project success in a case scenario?

16

Case: A student struggles with information overload. What strategy helps?

17

What is an essential element when presenting a case-based answer?

18

Case-based question: A company considers outsourcing IT support. Which factor should be evaluated first?

19

What is a common pitfall in case-based problem solving?

20

Case-based scenario: You must decide between a quick fix vs. long-term solution. Which approach is best?

Feedback

Depreciation spreads cost over the asset's use, not its market value or sale loss.

Goodwill arises when purchase price exceeds fair value of identifiable net assets.

Capital represents owner investments or equity in the business.

Assets are resources with future economic benefits, not obligations or revenues.

Liabilities require future outflows of resources to settle obligations.

Current assets are expected to be converted into cash or used within a year, e.g., inventory.

Buildings are long-term assets used over several years.

Capital expenditure adds or enhances assets, not immediately expense them.

Capital is owner-provided funds or equity, not expenses or profits.

Accounts receivable represent assets, not obligations.

Correct: case-based questions assess application, not recall.

Correct: structured problem solving leads to better decisions.

Correct: data minimization reduces risk and respects privacy.

Correct: role clarity prevents repetition of delays.

Correct: timeliness is a key success metric.

Correct: prioritization and summarization aid comprehension.

Correct: logical justification strengthens arguments.

Correct: financial and risk factors drive outsourcing decisions.

Correct: balanced analysis and action are needed.

Correct: sustainable solutions reduce repeated issues.

 
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