These are four sample questions from Bryq’s Accounting Roles assessment, a job-specific test for hiring accountants, bookkeepers, and accounting assistants. The full assessment covers four skills: budgeting, financial reporting, accounting principles, and accounting. Questions combine practical budgeting scenarios with technical accounting knowledge, and each has four options to choose from.
Budgeting
Question
While consolidating next year’s budget, you notice that one department’s forecast assumes a price increase that sales leadership hasn’t approved. What should you do?
Select your answer
Raise it with the department and sales leadership, and agree whether to revise it or model both cases.
Adjust the forecast to current prices yourself and inform the department of the change.
Include the forecast as submitted, adding a note that the price increase is unconfirmed.
Include the forecast as submitted, since departments own their budget assumptions.
WHY IS THIS THE CORECT ANSWER
A consolidated budget is only as reliable as its assumptions. Resolving the unapproved price increase with the people who own it keeps the budget accurate and accountable.
Financial Reporting
Question
Where is cash paid to buy back a company’s own shares reported in the statement of cash flows?
Select your answer
Financing activities.
It is not reported, as no asset is acquired.
Operating activities.
Investing activities.
WHY IS THIS THE CORECT ANSWER
Share buybacks are transactions with the company’s owners, so they belong in financing activities alongside share issues, dividends and borrowing.
Accounting Principles
Question
An auditor has serious doubts about whether a company can continue operating for the next 12 months. Which accounting assumption is in question?
Select your answer
Going concern.
Economic entity.
Consistency.
Matching.
WHY IS THIS THE CORECT ANSWER
The going concern assumption allows financial statements to be prepared on the basis that the business will keep operating. When that is in doubt, it must be disclosed, and assets may need to be measured on a liquidation basis instead.
Accounting
Question
A company pays $12,000 on 1 January for a 12-month insurance policy. What should its records show at 31 March?
Select your answer
A prepaid asset of $9,000 and an insurance expense of $3,000.
A prepaid asset of $12,000 until the policy expires.
An accrued liability of $9,000 for cover not yet received.
An insurance expense of $12,000 recorded in January.
