A hiring manager may ask you to explain an entry before asking you to calculate anything. Start with the event: what did the business receive, provide, owe, or use? Then connect the entry to the statements. A correct number with the wrong account can still give a manager the wrong picture.
These 18 original questions move through six easy, six medium, and six hard scenarios. You will distinguish collections from revenue, work through contra accounts and estimates, and trace noncash adjustments across the statements. For numerical questions, use the stated assumptions and enter a gain as positive or a loss as negative when asked. The companies are fictional. Use the explanations after each answer to practice giving a short reason out loud.