Exit Exam for Accounting

and Finance Pdf |2023

15 Comments / Exit Exam / By @emebet
Exit Exam for Accounting and Finance Pdf

 Exit Exam for Accounting and Finance Pdf

 Exit Exam for Accounting and Finance Pdf part 2
 Exit Exam for Accounting and Finance Pdf part 3
1. Which of the following is not an example of a current asset?
A) Accounts payable
B) Cash
C) Inventory
D) Marketable securities
2. Which of the following is not a characteristic of a partnership?
A) Limited liability
B) Shared control
C) Division of profits and losses
D) Joint and several liability
3. Which of the following is not a type of financial statement?
A) Income statement
B) Balance sheet
C) Statement of cash flows
D) Statement of stockholders’ equity
4. Which of the following is not a type of budget?
A) Operating budget
B) Capital budget
 C) Investment budget
D) Cash budget
5. Which of the following is not a type of cost?
A) Direct cost
B) Indirect cost
C) Variable cost
D) Fixed cost
6. Which of the following is not a type of financial ratio?
A) Profitability ratio
B) Liquidity ratio
C) Activity ratio
D) Sales ratio
7. Which of the following is not a type of financial market?
A) Stock market
B) Bond market
C) Commodity market
D) Housing market
8. Which of the following is not a type of financial institution?
A) Commercial bank
B) Investment bank
C) Credit union
D) Law firm
9. Which of the following is not a type of financial risk?
A) Market risk
B) Credit risk
C) Operational risk
D) Legal risk
10. Which of the following is not a type of financial instrument?
A) Stock
B) Bond
C) Option
D) Patent
11. The accounting equation is:
A) Assets = Liabilities + Equity
B) Assets – Liabilities = Equity
C) Assets + Liabilities = Equity
D) Assets x Liabilities = Equity
12. Which of the following is not a source of financing for a company?
A) Debt
B) Equity
C) Revenue
D) Retained earnings
13. Which of the following is not a type of financial statement analysis?
A) Horizontal analysis
B) Vertical analysis
C) Ratio analysis
D) Linear analysis
14. Which of the following is not a type of account?
A) Asset account
B) Liability account
C) Revenue account
D) Expense account
15. Which of the following is not a type of audit?
A) Financial statement audit
B) Internal audit
C) Operational audit
D) Marketing audit
16. Which of the following is not a type of financial reporting standard?
A) GAAP
B) IFRS
C) SOX
D) SEC
17. Which of the following is not a type of financial fraud?
A) Embezzlement
B) Money laundering
C) Insider trading
D) Whistleblowing
18. Which of the following is not a type of financial decision?
A) Investment decision
B) Financing decision
C) Dividend decision
D) Marketing decision
19. Which of the following is not a type of financial statement ratio?
A) Debt-to-equity ratio
B) Return on investment ratio
C) Gross profit margin ratio
D) Employee turnover ratio
20. Which of the following is not a type of financial market efficiency?
A) Weak form efficiency
B) Semi-strong form efficiency
C) Strong form efficiency
D) Perfect form efficiency
21. Which of the following is not a type of financial statement error?
A) Fictitious revenue
B) Overstated expenses
C) Understated assets
D) Accrued liabilities
22. Which of the following is not a type of financial statement adjustment?
A) Depreciation expense
B) Accrued revenue
C) Prepaid expense
D) Deferred revenue
23. Which of the following is not a type of financial statement disclosure?
A) Footnotes
B) Management discussion and analysis
C) Auditor’s opinion
D) Press release
24. Which of the following is not a type of financial analysis tool?
A) Spreadsheet software
B) Accounting software
C) Statistical software
D) Graphic design software
25. Which of the following is not a type of financial statement item?
A) Accounts receivable
B) Accounts payable
 C) Common stock
D) Property, plant, and equipment
26. Which of the following is not a type of financial statement user?
A) Investors
B) Creditors
C) Regulators
D) Employees
27. Which of the following is not a type of financial statement assertion?
A) Existence
B) Completeness
C) Valuation
D) Accuracy
28. Which of the following is not a type of financial statement objective?
A) Relevance
B) Reliability
C) Comparability
D) Profitability

Exit Exam for Accounting and Finance Pdf part 2

Exit Exam for Accounting and Finance Pdf

1. Which of the following is not a type of financial statement review?

A) Compilation
B) Review
C) Audit
D) Inspection
2. Which of the following is not a type of financial statement presentation?
A) Classified balance sheet
B) Multi-step income statement
C) Statement of retained earnings
D) Statement of comprehensive income
3. Which of the following is not a type of financial statement element?
A) Assets
B) Liabilities
C) Equity
D) Revenue
4. Which of the following is not a type of financial statement framework?
A) COSO
B) COBIT
C) ISO
D) NIST
5. Which of the following is not a type of financial statement issue?
A) Materiality
B) Consistency
C) Conservatism
D) Timeliness
6. Which of the following is not a type of financial statement regulation?
A) SEC
B) FASB
C) IASB
D) NASDAQ
7. Which of the following is not a type of financial statement preparation method?
A) Manual
B) Electronic
C) Automated
D) Oral
8. Which of the following is not a type of financial statement disclosure requirement?
A) Related-party transactions
B) Segment reporting
C) Cost of goods sold
D) Contingencies
9. Which of the following is not a type of financial statement audit procedure?
A) Inquiry
B) Observation
C) Confirmation
D) Persuasion
10. Which of the following is not a type of financial statement assertion test?
A) Substantive
B) Test of controls
C) Analytical
D) Compliance
11. Which of the following is not a type of financial statement assertion error?
A) Factual
B) Judgmental
C) Timing
D) Sampling
12. Which of the following is not a type of financial statement audit opinion?
A) Unqualified
B) Qualified
C) Adverse
D) Disclaimer
13. Which of the following is not a type of financial statement reporting requirement?
A) Annual report
B) 10-K
C) 8-K
D) 1099
14. Which of the following is not a type of financial statement disclosure control?
A) Authorization
B) Segregation of duties
C) Access control
D) Encryption
15. Which of the following is not a type of financial statement error detection method?
A) Sampling
B) Reconciliation
C) Observation
D) Simulation
16. Which of the following is not a type of financial statement fraud detection method?
A) Whistleblowing
B) Data analytics
C) Forensic accounting
D) Adverse opinion
17. Which of the following is not a type of financial statement audit report element?
A) Title
B) Scope
 C) Conclusion
D) Footnotes
18. Which of the following is not a type of financial statement audit objective?
A) Existence
B) Completeness
C) Accuracy
D) Profitability
19. Which of the following is not a type of financial statement audit risk?
A) Inherent risk
B) Control risk
C) Detection risk
D) Market risk
20. Which of the following is not a type of financial statement audit evidence?
A) Documentation
B) Observation
C) Confirmation
D) Opinion
21. Which of the following is not a type of financial statement audit documentation?
A) Workpapers
B) Financial statements
C) Audit program
D) Audit report
22. Which of the following is not a type of financial statement audit sampling method?
A) Random sampling
B) Stratified sampling
C) Judgmental sampling
D) Convenience sampling
23. Which of the following is not a type of financial statement audit procedure documentation?
A) Audit plan
B) Audit program
C) Audit report
D) Audit trail
24. Which of the following is not a type of financial statement audit standard?
A) PCAOB
B) AICPA
C) ISACA
D) IIA
25. Which of the following is not a type of financial statement audit opinion modification?
A) Scope limitation
B) Material misstatement
C) Going concern
D) Fraud
26. Which of the following is not a type of financial statement audit quality control?
A) Independence
B) Competence
C) Due care
D) Profitability
27. Which of the following is not a type of financial statement audit reporting requirement?
A) Engagement letter
B) Internal control letter
C) Management letter
D) Opinion letter
28. Which of the following is not a type of financial statement audit review requirement?
A) Engagement quality review
B) Peer review
C) Inspection
D) Audit committee review

Also read

Exit exam for Economics PDF | 2023

Management Exit Exam Questions and Answers Pdf in 2023

Exit Exam for Accounting and Finance Pdf part 3

1. Which of the following is not a type of financial statement audit analytical procedure?
A) Trend analysis
B) Ratio analysis
C) Regression analysis
D) Sampling analysis
2. Which of the following is not a type of financial statement audit report content?
A) Auditor’s responsibility
B) Basis for opinion
C) Management’s responsibility
D) Auditor’s qualifications
3. Which of the following is not a type of financial statement fraud risk factor?
A) Management override
B) Complex transactions
C) Inadequate disclosure
D) Ethical culture
4. Which of the following is not a type of financial statement audit fraud risk assessment?
A) Risk assessment
B) Fraud brainstorming
C) Fraud triangle analysis
D) Fraud detection
5. Which of the following is not a type of financial statement audit fraud detection method?
A) Data analytics
B) Whistleblowing
C) Forensic accounting
D) Sampling
6. Which of the following is not a type of financial statement audit sampling risk?
A) Sampling error
B) Nonsampling error
C) Nonresponse error
D) Sampling frame error
7. Which of the following is not a type of financial statement audit materiality threshold?
A) Performance materiality
B) Planning materiality
C) Detection materiality
D) Tolerance materiality
8. Which of the following is not a type of financial statement audit procedure risk?
A) Detection risk
B) Control risk
 C) Inherent risk
D) Sampling risk
9. Which of the following is not a type of financial statement audit evidence reliability?
A) Relevance
B) Sufficiency
C) Competence
D) Objectivity
10. Which of the following is not a type of financial statement audit documentation requirement?
A) Audit trail
B) Audit program
C) Audit report
D) Audit evidence
11. Which of the following is not a type of financial statement audit evidence source?
A) Physical observation
B) Inquiry
C) Documentation
D) Opinion
12. Which of the following is not a type of financial statement audit evidence documentation?
A) Workpapers
B) Audit report
C) Financial statements
D) Audit program
13. Which of the following is not a type of financial statement audit evidence corroboration?
A) Confirmation
B) Reconciliation
C) Analytical procedures
D) Recalculation
14. Which of the following is not a type of financial statement audit evidence testing?
A) Substantive testing
B) Test of controls
C) Compliance testing
D) Judgmental testing
15. Which of the following is not a type of financial statement audit evidence evaluation?
A) Completeness
B) Accuracy
C) Sufficiency
D) Independence
16. Which of the following is not a type of financial statement audit evidence documentation
requirement?
A) Audit trail
B) Audit program
C) Audit report
D) Audit evidence
17. Which of the following is not a type of financial statement audit evidence source?
A) Physical observation
B) Inquiry
C) Documentation
D) Opinion
18. Which of the following is not a type of financial statement audit evidence corroboration?
A) Confirmation
B) Reconciliation
C) Analytical procedures
D) Recalculation
19. Which of the following is not a type of financial statement audit evidence testing?
A) Substantive testing
B) Test of controls
C) Compliance testing
D) Judgmental testing
20. Which of the following is not a type of financial statement audit evidence evaluation?
A) Completeness
B) Accuracy
C) Sufficiency
D) Independence
21. Which of the following is not a type of financial statement audit evidence reliability factor?
A) Source
B) Nature
C) Timing
D) Purpose
22. Which of the following is not a type of financial statement audit evidence documentation
requirement?
A) Audit trail
B) Audit program
C) Audit report
D) Audit evidence
23. Which of the following is not a type of financial statement audit evidence source?
A) Physical observation
B) Inquiry
C) Documentation
D) Opinion
24. Which of the following is not a type of financial statement audit evidence corroboration?
A) Confirmation
B) Reconciliation
C) Analytical procedures
D) Recalculation
25. Which of the following is not a type of financial statement audit evidence testing?
A) Substantive testing
B) Test of controls
C) Compliance testing
D) Judgmental testing

1. Which of the following is not a type of financial statement audit evidence evaluation?
A) Completeness
B) Accuracy
C) Sufficiency
D) Independence
2. Which of the following is not a type of financial statement audit evidence reliability factor?
A) Source
B) Nature
C) Timing
D) Purpose
3. Which of the following is not a type of financial statement audit evidence documentation
requirement?
A) Audit trail
B) Audit program
 C) Audit report
D) Audit evidence
4. Which of the following is not a type of financial statement audit evidence source?
A) Physical observation
B) Inquiry
C) Documentation
D) Opinion
5. Which of the following is not a type of financial statement audit evidence corroboration?
A) Confirmation
B) Reconciliation
C) Analytical procedures
D) Recalculation
6. Which of the following is not a type of financial statement audit evidence testing?
A) Substantive testing
B) Test of controls
C) Compliance testing
D) Judgmental testing
7. Which of the following is not a type of financial statement audit evidence evaluation?
A) Completeness
B) Accuracy
C) Sufficiency
D) Independence
8. Which of the following is not a type of financial statement audit evidence reliability factor?
A) Source
B) Nature
C) Timing
D) Purpose
9. Which of the following is not a type of financial statement audit evidence documentation
requirement?
A) Audit trail
B) Audit program
C) Audit report
D) Audit evidence
10. Which of the following is not a type of financial statement audit evidence source?
A) Physical observation
B) Inquiry
C) Documentation
D) Opinion
11. Which of the following is not a type of financial statement audit evidence corroboration?
A) Confirmation
B) Reconciliation
C) Analytical procedures
D) Recalculation
12. Which of the following is not a type of financial statement audit evidence testing?
A) Substantive testing
B) Test of controls
C) Compliance testing
D) Judgmental testing
13. Which of the following is not a type of financial statement audit evidence evaluation?
A) Completeness
B) Accuracy
C) Sufficiency
D) Independence
14. Which of the following is not a type of financial statement audit evidence reliability factor?
A) Source
B) Nature
C) Timing
D) Purpose
15. Which of the following is not a type of financial statement audit evidence documentation
requirement?
A) Audit trail
B) Audit program
C) Audit report
D) Audit evidence
16. Which of the following is not a type of financial statement audit evidence source?
A) Physical observation
B) Inquiry
C) Documentation
D) Opinion
17. Which of the following is not a type of financial statement audit evidence corroboration?
A) Confirmation
B) Reconciliation
C) Analytical procedures
D) Recalculation
18. Which of the following is not a type of financial statement audit evidence testing?
A) Substantive testing
B) Test of controls
C) Compliance testing
D) Judgmental testing
19. Which of the following is not a type of financial statement audit evidence evaluation?
A) Completeness
B) Accuracy
C) Sufficiency
D) Independence