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Original practice bank · All explanations and revision guides free
Practise entries, statements, accruals, depreciation and working capital with 24 original tasks. Free answers and six full guides. No certification.
24 questions · about 12 minutes · no signup
Choose one answer for every original task using its stated amounts, period, model and exclusions. CU means fictional currency units. Six groups have four items each. Complete all 24 to see your choices, keys, explanations and six full guides. There is no timer; the 12-minute label is a rough planning estimate, not measured performance. For unaided practice, save calculators and references until afterwards. Do not enter or change real financial records for this test.
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All questions and full results are free, with no signup. Saving is optional; only saved attempts can be resumed after a refresh or language change. Tab drafts expire after 24 hours and clear on completion or retake.
Work through 24 independently written bookkeeping and calculation tasks: debits and credits, income statement, balance sheet, accrual timing, depreciation and working capital, four each. The original contexts use fictional amounts and explicit simplified assumptions. Selected OpenStax accounting facts and formulae support author review; no textbook exercises, figures, answer bank or copied definitions supply the questions. Every count opens every explanation and all six complete guides. This fixed practice bank is not a CPA qualification, hiring screen, population comparison, financial advice or GAAP/IFRS/tax compliance assessment.
Each matching key counts one and each incorrect choice zero. Six groups of four add to a count out of 24. There is no weighting, reverse scoring or speed bonus. Every item needs a valid choice before a result appears; missing answers are not filled in or silently marked wrong.
A count of 3/4 means three matching choices on four selected tasks under their stated assumptions. Zero, partial and perfect counts open the same 24 explanations and six complete guides. Public guides do not display a visitor’s answers or private count. Use invented sample data for the suggested exercises.
This edition has no population norms, hiring cutoff, validated ability tier or exam conversion. It does not perform real bookkeeping, audit records, assess a company’s financial health or establish GAAP, IFRS or tax compliance. Real contracts, classifications, estimates and reporting rules can require more information. English and Chinese counts have no established measurement equivalence.
Every section has a public revision guide. Completing the practice shows every guide and item explanation without assigning a type by score. Public guides contain no personal responses or counts; studying before practice is welcome. This is not a secure exam.
Practise original capital, loan, payable-settlement and inventory entries while keeping the accounting equation in view.
Review gross profit, net income, owner contributions and one omitted expense using small complete fictional statements.
Practise equity, asset totals, cash-for-equipment exchanges and the evidence limit of an unbalanced draft.
Review an earned advance, used prepaid cover, an unpaid current expense and collection of an earlier receivable.
Practise straight-line expense, accumulated depreciation, carrying amount and the cash effect of a depreciation entry.
Review working capital, current ratio and two current-asset/current-liability changes without making a solvency claim.
No. It reports correct counts for 24 original simplified tasks, all worked answers and six full guides. It is not a CPA or chartered qualification, hiring certificate, validated ability tier or population benchmark.
No. CU amounts, periods, classifications and model assumptions are fictional and supplied for practice. The site does not inspect a business’s records or determine treatment of a real transaction, contract, valuation or tax position.
They fix the particular case being scored, such as a full year of unchanged straight-line depreciation or a previously recorded receivable. Adding an unstated fee, tax, impairment or contract condition changes the task. The assumptions are not universal reporting rules.
The author reviewed selected primary accounting facts and the bilingual wording. Exact rational calculations check amounts, fractions, ratios and stated changes; journal choices are checked against their declared account encodings. This is not independent accountant review, live-ledger testing or validation for a job.
All 24 keys and explanations and six complete guides are free without an account, email or payment. There is no timer; 12 minutes is only a rough planning estimate. Retake uses the same fixed original bank, so a higher count after viewing answers can reflect memory.
Answers stay in the browser. Optional tab drafts expire after 24 hours and clear on completion, exit-and-clear or retake. Without a draft, refresh loses progress. Sharing copies a public test link without answers, correctness counts or private identifiers.
FermatMind wrote the contexts, amounts, alternatives, explanations, examples and guides. Selected OpenStax facts and formulae provide background; textbook prose, figures, exercises and answer banks are not reproduced or adapted. Exact rational arithmetic checks numerical consequences and declared journal encodings. The author reviewed language-to-model alignment and accounting meanings; these checks are not independent accountant review, an audit or psychometric validation. Referenced publishers do not endorse the test.
These sources provide background, not validation of this questionnaire or an individual diagnosis.
Website content edition 1.0.0 ·
Source question / scoring / report versions: fm_financial_accounting_practice_24_v1 / practice_equal_correct_counts_v1 / fm_financial_six_review_guides_v1