Accounting Foundations: Questions

This is a book of questions and answers on the following six accounting topics:

• Accounting equation
• Statement of financial position
• Statement of profit or loss
• Debits and credits
• T-accounts
• Trial balance

The questions include a range of styles, such as multiple-choice, calculations, and preparation of T-accounts. They are perfect for revision and exam question practice.

Two case studies are also included that require students to provide journals for a range of transactions. They must then record these in T-accounts, extract a trial balance, and prepare the financial statements.

Twelve videos accompany the question bank and can be viewed here:

https://bit.ly/3qqAw1R

In order to aid student understanding, and to help cement basic principles, the questions included do not cover adjustments such as depreciation, accruals, prepayments or irrecoverable debts.