Accounting LinkedIn Skill Assessment Answer (2022)

Table of Contents
Wikipedia – Accounting Accounting LinkedIn Skill Assessment :- Q1. Which statement is not an advantage of robotic process automation (RPA)? Q2. What effect does a contra asset account have on a balance sheet? Q3. Internal controls may be preventative, detective, corrective, or directive. Which is a detective control? Q4. On March 15, a business receives an invoice from the power company for utilities used in February. The retailer pays the invoice on April. The business uses accrual-based accounting. Which month should the business recognize the expense? Q5. Which choice is a general guideline for adequate separation of duties to prevent both fraud and error? Q6. What does the cost of a unit of product under absorption costing method consist of? Q7. Which answer best describes accruals and deferrals? Q8. What do you call a situation where more than one person collaborates to circumvent existing internal controls? Q9. Which is not an example of an internal control activity? Q10. Which budgeting approach request justification of all expenditures? Q11. What does the discontinued operations section of the income statement refer to? Q12. How are the three financial statements (income, statement, balance sheet, and cash flow statement) linked? Q13. Which is not one of the four perspectives of the balanced scorecard? Q14. What would be deducted from the balance per books when doing a bank reconciliation? Q15. What situation could be the results of the three retails store employees sharing the same cash register? Q16. A firm has $1,000 in debt and $3,000 in assets. What is the firm’s debt-to-equity ratio? Q17. An external auditor is required to be independent when performing Q18. Proper segregation of functional responsibilities calls for separation of Q19. What does the degree of operating leverage represent? Q20. Which characteristic would concern an auditor about the risk of material misstatements arising from fraudulent financial reporting? Q21. An employee who makes a sale, ships the goods, and bills the customer violates which control activity? Q22. What trait distinguishes auditors from accountants? Q23. What is the purpose of an operational audit? Q24. Which statement is false? Q25. Which choice is not a component of internal control? FAQs Videos

Here, We see Accounting LinkedIn Skill Assessment Answer. This assessment test consists 15-20 MCQs to demonstrate your knowledge in your selected skills. MCQs comes from different topics – Ethics and Governance, Financial Accounting, Information Systems/Technology/Audit/Taxation, Managerial Accounting, Performance Management.

Wikipedia – Accounting

List of Business Skills Assessment Answer

Accounting LinkedIn Skill Assessment Answer (1)

Accounting LinkedIn Skill Assessment :-

Q1. Which statement is not an advantage of robotic process automation (RPA)?

  1. Bots are more creative than humans✔️
  2. Bots do no need to take time off
  3. Bots improve efficiency
  4. Bots can eliminate human errors

Q2. What effect does a contra asset account have on a balance sheet?

  1. A contra asset is not an accounting term
  2. A contra asset has a credit balance and therefore a negative effect on total assets✔️
  3. A contra asset with a positive balance will increase overall liabilities
  4. A contra asset has a debit balance and therefore a positive effect on total assets

Q3. Internal controls may be preventative, detective, corrective, or directive. Which is a detective control?

  1. data backups
  2. physical inventory check✔️
  3. employee background checks
  4. physical locks on inventory warehouse

Q4. On March 15, a business receives an invoice from the power company for utilities used in February. The retailer pays the invoice on April. The business uses accrual-based accounting. Which month should the business recognize the expense?

  1. April
  2. March
  3. no record required
  4. February✔️

Q5. Which choice is a general guideline for adequate separation of duties to prevent both fraud and error?

  1. A person who has control over an asset should not safeguard that asset.
  2. A person who has temporary or permanent custody of an asset should not account for that asset.
  3. A person who has record-keeping responsibility should not make journal entries.✔️
  4. A person who has operational responsibility should not authorize transactions for the area.

Q6. What does the cost of a unit of product under absorption costing method consist of?

  1. direct materials, direct and indirect labor, and fixed overhead
  2. direct materials, indirect labor, and variable and fixed overhead
  3. direct materials, direct labor, and both variable and fixed overhead✔️
  4. direct materials, direct and indirect labor, and variable overhead

Q7. Which answer best describes accruals and deferrals?

  1. Accruals are past cash receipts and payments, while deferrals are expected future cash receipts and payments.
  2. Both accruals and deferrals are both expected future cash receipts and payments.
  3. Accruals are expected future cash receipts and payments, while deferrals are past cash receipts and payments.✔️
  4. Both accruals and deferrals are not expected past cash receipts and payments.
(Video) LinkedIn Accounting Assessment | Quiz Answers | July 2022

Q8. What do you call a situation where more than one person collaborates to circumvent existing internal controls?

  1. assigned responsibility
  2. segregation of duties
  3. fraud prevention
  4. collusion✔️

Q9. Which is not an example of an internal control activity?

  1. review of manufacturing plan
  2. segregation of duties
  3. bank reconciliations✔️
  4. approval process

Q10. Which budgeting approach request justification of all expenditures?

  1. zero-based budgeting✔️
  2. master budgeting
  3. rolling budgets
  4. bottom-up budgeting

Q11. What does the discontinued operations section of the income statement refer to?

  1. disposal of a major product line or major geographical area of operations✔️
  2. sale of unused or obsolete equipment and discontinued inventory
  3. a plant shutdown or decommissioning of a facility
  4. net income or loss for products completed and sold

Q12. How are the three financial statements (income, statement, balance sheet, and cash flow statement) linked?

  1. Only the assets are reflected in the cash flow statement, and the net income expenses correlate with the liabilities.
  2. The net income goes to retained earnings, but the cash flow remains independent.✔️
  3. The gross profit goes to retained earning, and the shareholder equity total is added to the cash flow statement
  4. The net income goes to the retained earning and to the cash flow statement

Q13. Which is not one of the four perspectives of the balanced scorecard?

  1. internal business
  2. learning and growth
  3. quantitative✔️
  4. customer

Q14. What would be deducted from the balance per books when doing a bank reconciliation?

  1. deposits in transit
  2. bank service fees
  3. outstating checks✔️
  4. electronic fund transfers/payments

Q15. What situation could be the results of the three retails store employees sharing the same cash register?

  1. a thorough internal control activity
  2. a violation of assignment of responsibility✔️
  3. a violation of segregation of duties
  4. a support process to avoid fraud

Q16. A firm has $1,000 in debt and $3,000 in assets. What is the firm’s debt-to-equity ratio?

  1. 3
  2. 2
  3. 0.5
  4. 0.33✔️

Q17. An external auditor is required to be independent when performing

  1. all attestation services
  2. all professional services
  3. all tax services
  4. all consulting engagements

Q18. Proper segregation of functional responsibilities calls for separation of

  1. custody, payment, and recording
  2. authorization, custody, and execution
  3. authorization, custody, and recording
  4. custody, execution, and payment

Q19. What does the degree of operating leverage represent?

  1. how much the value of capital assets will change in response to a change in sales
  2. how much the operating income of a company will change in response to a change in sales
  3. the valuation of assets to determine how much additional debt the company can borrow
  4. how much the sales of a company will change in response to a change in operating income

Q20. Which characteristic would concern an auditor about the risk of material misstatements arising from fraudulent financial reporting?

  1. limited employee turnover within the accounting and finance department
  2. management’s disregard of regulations and regulatory authorities
  3. regularly reported bank reconciliations, including deposits in transit
  4. capital assets sold at a loss before being depreciated fully

Q21. An employee who makes a sale, ships the goods, and bills the customer violates which control activity?

  1. assignment of responsibility
  2. audit verification
  3. segregation of duties
  4. review and reconciliation

Q22. What trait distinguishes auditors from accountants?

  1. The auditor can interpret accounting principles applicable to the country in which the client operates.
  2. The auditor has extensive education beyond what is required for an accountant
  3. The auditor can adapt to a rapidly changing profession.
  4. The auditor has expertise in the gathering and interpretation of audit evidence.

Q23. What is the purpose of an operational audit?

  1. assessing the company’s compliance with environmental laws and regulations
  2. evaluating whether the organization is meeting the metrics set by management in order to achieve the goals and objectives set forth by the board of directors
  3. assessing the organization’s control mechanisms for overall efficiency and reliability
  4. evaluating compliance with applicable laws, regulations, policies, and procedures

Q24. Which statement is false?

  1. The balanced scorecard aligns an organization’s operational activities with its mission.
  2. The balanced scorecard focuses on these four primary areas: financial, customer, internal process, and learning and growth.
  3. The balanced scorecard measures, tracks, and reports on a balance of qualitative and financial data and metrics.
  4. The balanced scorecard ensures the organization’s profitability aligns with director compensation and dividend expectations.

Q25. Which choice is not a component of internal control?

  1. information and communication
  2. risk mitigation
  3. monitoring
  4. control environment

LinkedIn Accounting Quiz Answers, LinkedIn Accounting Assessment Answers, Accounting LinkedIn Quiz Answers, Accounting Assessment LinkedIn Answers, LinkedIn Skill Quiz Answers Accounting, LinkedIn Accounting Quiz, Accounting LinkedIn Quiz, LinkedIn Quiz Answers Accounting, LinkedIn Accounting Assessment Quiz Answers, LinkedIn Skill Assessment Accounting Answers, Accounting LinkedIn Quiz, LinkedIn Accounting Assessment Test Answers, LinkedIn Accounting Test Answers, LinkedIn Accounting Skill Assessment Answers, LinkedIn Skill Assessment Answers Accounting, Accounting LinkedIn Assessment Answers, LinkedIn Accounting Assessment Answers, Accounting LinkedIn Assessment Answers, Answers to LinkedIn Quizzes, LinkedIn Skill Assessment Answers GitHub, LinkedIn Assessment Test Answers, LinkedIn Skill Assessments Answers, LinkedIn assessment answers, LinkedIn skill assessment answers, LinkedIn assessments, LinkedIn skill assessment, LinkedIn assessment answers 2021, LinkedIn assessment answers GitHub, LinkedIn assessment quiz answers, Accounting LinkedIn Skill Assessment Answer, Accounting LinkedIn Skill Assessment Answer

Microsoft Project LinkedIn Skill Assessment Answer

Here, We see Microsoft Project LinkedIn Skill Assessment Answer. This assessment test consists 15-20 MCQs…

(Video) How To Pass LinkedIn Excel Assessment Test

Read More

Microsoft PowerPoint LinkedIn Skill Assessment Answer

Here, We see Microsoft PowerPoint LinkedIn Skill Assessment Answer. This assessment test consists 15-20 MCQs…

Read More

Microsoft Power BI LinkedIn Skill Assessment Answer

(Video) How To Take Linkedin Skill Assessment Test | Linkedin Skill Assessment Test To Get Job| Best Way

Here, We see Microsoft Power BI LinkedIn Skill Assessment Answer. This assessment test consists 15-20…

Read More

Adobe Acrobat LinkedIn Skill Assessment Answer

Here, We see Adobe Acrobat LinkedIn Skill Assessment Answer. This assessment test consists 15-20 MCQs…

Read More

(Video) LinkedIn Assessment Answers (All Test from A - Z)

SharePoint LinkedIn Skill Assessment Answer

Here, We see SharePoint LinkedIn Skill Assessment Answer. This assessment test consists 15-20 MCQs to…

Read More

Google Ads LinkedIn Skill Assessment Answer

Here, We see Google Ads LinkedIn Skill Assessment Answer. This assessment test consists 15-20 MCQs…

Read More

(Video) How to get LinkedIn Skill Assessment Badge in 5 Minutes #linkedin #onlinevideotutorials

FAQs

Can you fail LinkedIn assessment? ›

So now LinkedIn has another idea: Skill Assessments. The idea is that you prove your ability by taking a quick quiz. If you pass, you get a badge for your profile, one which the company says makes you 30 per cent more likely to get hired. If you fail, well that's just between you and Microsoft.

Are LinkedIn skill tests worth it? ›

Moreover, these assessments seem to be well received: Research shows that job seekers who've completed LinkedIn Skill Assessments are approximately 30 percent more likely to get hired than those who haven't.

Which answer best describes accruals and deferrals LinkedIn? ›

Which answer best describes accruals and deferrals? Accruals are past cash receipts and payments, while deferrals are expected future cash receipts and payments.

Do recruiters care about LinkedIn assessments? ›

Recruiters can look for people who have passed assessments for specific skills as part of their search parameters and filters. Badges appear with prospect profiles in search results lists, helping recruiters prioritize profiles even if they didn't filter by skills assessments.

How many times can you retake LinkedIn skill assessments? ›

If you don't earn a skill badge for a given skill, you can retake the exam once more within six months.

Do recruiters see skills on LinkedIn? ›

Keywords. Past experience can give recruiters and hiring managers a good idea of a candidate's capabilities, but they are highly likely to search for specific skills or keywords as well, either by using LinkedIn Recruiters built-in skills filtering or by plugging all relevant terms into the search bar.

Are LinkedIn badges worth? ›

Absolutely, it is worthwhile to complete the LinkedIn assessments. According to research, job applicants who have finished their LinkedIn Skill Assessments have a 30% higher chance of being hired than those who have not.

Where do LinkedIn skill badges appear? ›

Linked skill badges appear on the skills section of your LinkedIn profile. After you're done with an assessment and you score a specific result (depending on the test) you'll get an icon next to the skill on your profile.

What are the 5 concepts of accounting? ›

: Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Duality Aspect concept, Realisation Concept, Accrual Concept and Matching Concept.

What is the example of accrual and deferral? ›

The examples include Short-Term Investments, Prepaid Expenses, Supplies, Land, equipment, furniture & fixtures etc. read more. . Accrual is incurring expenses and earning revenue without paying or receiving cash. Deferral is paying or receiving cash in advance without incurring the expenses or earning the revenue.

What is the difference between accruals and deferrals in accounting? ›

Accruals occur when the exchange of cash follows the delivery of goods or services (accrued expense & accounts receivable). Deferrals occur when the exchange of cash precedes the delivery of goods and services (prepaid expense & deferred revenue).

What happens if you fail LinkedIn assessment? ›

Earning a score of 70% or more gets you a badge for your profile. Scores below 70% are failing and are not displayed on your profile. If you fail a test, you have the option to delete your score permanently. Also, if you fail a test, you have to wait 3 months to retest.

Do employers look at LinkedIn badges? ›

If you pass the assessment, you're issued a badge that will be displayed on your profile in LinkedIn Recruiter and LinkedIn Jobs. This will help employers quickly identify who has the specific skills they're looking for, and help you find job postings relevant to your identified skillset.

How do you get a gold badge on LinkedIn? ›

How To Get Free 6-months LinkedIn Premium?
  1. Step 1 - Find LinkedIn Employees. ...
  2. Step 2 - Navigate to their profiles and shoot them a message. ...
  3. Step 3 - Wait and keep checking your Inbox. ...
  4. Step 4 - Woohoo - Enjoy the golden badge - Pictured below.
1 Apr 2020

How do I get my LinkedIn assessment badge? ›

Linkedin Skill Assessment Test To Get Job| Best Way - YouTube

How do I retake a LinkedIn skill test? ›

On the right side of the screen, you'll see a sidebar labeled Your Assessments that lists both the number of badges you've earned as well as the number of assessments you have to retake. Click on the To retake number to go to the skill assessments quickly.

Do employers care about LinkedIn skills? ›

Yes, employers do care about LinkedIn skills.

This is especially true if they're searching for candidates on LinkedIn. Recruiters will often use these profiles as a reference point for whether or not they want to reach out to a candidate to have them apply for a role.

How do I get noticed by recruiters on LinkedIn 2022? ›

20 steps to a better LinkedIn profile in 2022
  1. Choose the right profile picture for LinkedIn. ...
  2. Add a background photo. ...
  3. Make your headline more than just a job title. ...
  4. Turn your summary into your story. ...
  5. Declare war on buzzwords. ...
  6. Grow your network. ...
  7. List your relevant skills. ...
  8. Spotlight the services you offer.

Why am I not being recruited on LinkedIn? ›

You've got to get to at least 500 connections so that others see you as an active player on LinkedIn. Also, recruiters will typically look within their existing connections, and the people those connections are connected to, for potential candidates.

Are LinkedIn skills assessments free? ›

LinkedIn members can show off their skills

Skill Assessments are short-form, standardized assessments designed by third-party subject matter and learning experts to assess and validate skills. Regardless of whether a member passes, they are offered free, relevant LinkedIn Learning courses to improve their skills.

What is a LinkedIn skill assessment? ›

LinkedIn Skill Assessments is a feature that allows members to take assessments on various skills to test and showcase their proficiency in those skills. We offer assessments that are categorized as technical, business, and design skills. Note: Some available skills have linked descriptions and question samples.

What is skill assessment test? ›

A skills test is an assessment test used to evaluate the skills and abilities of job candidates. These tests are designed to determine if a job applicant has the necessary skills to perform the various aspects of a job. In some cases, employers may even ask their existing employees to take this test.

How do you add a badge on LinkedIn? ›

  1. How to Add Microcredentials (Badges) to LinkedIn and Other Social Media Platforms 1. ...
  2. Go to Add Profile Section. ...
  3. Then this screen will pop open. ...
  4. Click on the badge that you want to add and then click on Share. ...
  5. This is how it will appear on your LinkedIn profile.

Can you take LinkedIn skill assessment multiple times? ›

If you don't have a LinkedIn Premium account, and you fail a test, you'll need to wait for 3 months to do a test again. There is no limit on how many times you can take them, but you're time-limited, so in case you fail the first time, make sure you prepare yourself better for the next time.

How do I pass a LinkedIn assessment? ›

For getting Linkedin Badge in your profile, you need to score at least 70% and above for getting recognition of skill badges. If you “grade in the 70th percentile or above”—according to LinkedIn—you officially pass and get a LinkedIn skill badge. The social media site will display your badge on your profile.

Do skills matter on LinkedIn? ›

According to LinkedIn, people who list at least five skills receive up to 17x more profile views. There's also evidence that more you have, the higher you'll rank in the search results. And the more profile views you're getting, whether from a recruiter or someone in your industry, the more opportunities you'll see.

How do LinkedIn assessments work? ›

LinkedIn Skill Assessments is a feature that allows members to take assessments on various skills to test and showcase their proficiency in those skills. We offer assessments that are categorized as technical, business, and design skills. Note: Some available skills have linked descriptions and question samples.

Are LinkedIn skill assessments timed? ›

Timed quiz with 1 minute and 30 seconds per question (and a timer at the bottom of the screen) Earning a score of 70% or more gets you a badge for your profile. Scores below 70% are failing and are not displayed on your profile. If you fail a test, you have the option to delete your score permanently.

How do I see my LinkedIn assessment score? ›

LinkedIn members can start taking skill assessment quiz by directing to your LinkedIn profile and scrolling down to the skills section. After completing the quiz, you'll get a report card with your score and LinkedIn learning courses based on what you got right.

Where do LinkedIn skill badges appear? ›

Linked skill badges appear on the skills section of your LinkedIn profile. After you're done with an assessment and you score a specific result (depending on the test) you'll get an icon next to the skill on your profile.

Do LinkedIn badges mean anything? ›

If you pass the assessment, you're issued a badge that will be displayed on your profile in LinkedIn Recruiter and LinkedIn Jobs. This will help employers quickly identify who has the specific skills they're looking for, and help you find job postings relevant to your identified skillset.

What is a skills assessment test? ›

What is a skills assessment test? Skills assessment tests are often used by employers to gauge the abilities and skills of both current employees and job applicants. These tests are designed to assess whether individuals have the skills necessary to perform various and essential aspects of a job.

Which skill is most in demand in 2022? ›

Top in-demand skills
  • Creativity.
  • Time management.
  • Proactivity.
  • Project management.
  • IT automation.
  • Data analysis and statistics.

What is the best headline for LinkedIn? ›

Here's a few formulas you can use to write the best LinkedIn headline: (Title) at (Company) – Helping USP (Unique Selling Proposition) (Title) | (Company) | (USP) Title + Company + benefits of working with you | keywords related to your niche | personal touch |

How many skills should you put on LinkedIn? ›

If you want the skills section to be meaningful, you should keep the number of skills in the skills section limited to ten, and I'll tell you why. First, having any more than ten skills can look sloppy.

How do you get a gold badge on LinkedIn? ›

How To Get Free 6-months LinkedIn Premium?
  1. Step 1 - Find LinkedIn Employees. ...
  2. Step 2 - Navigate to their profiles and shoot them a message. ...
  3. Step 3 - Wait and keep checking your Inbox. ...
  4. Step 4 - Woohoo - Enjoy the golden badge - Pictured below.
1 Apr 2020

Which feature allows you to copy attributes? ›

The format painter lets you copy all of the formatting from one object and apply it to another one – think of it as copying and pasting for formatting.

What can not be created from a Word document? ›

What can you NOT create from a Word document?
  • a Word macro-enabled document.
  • a plain text file.
  • a multipage website.
  • a Word 2003 XML document.
7 Jan 2022

Videos

1. Wondering About the Skills Assessment Quiz on LinkedIn? WATCH THIS (part 1 of 2)
(BrendaMeller)
2. LinkedIn Microsoft Excel Assessment Answers 2022 - LinkedIn Excel Skill Quiz Test Answers 2022
(RBTechTips)
3. How to Pass LinkedIn Excel Job Test: Top 25 Questions and Answers
(Online Training for Everyone)
4. Do LinkedIn Skill Assessments Help You Land A Job?
(Melanie Woods - CGL Recruiting )
5. LinkedIn IT Operations Assessment Answers Passed 2022
(Aytech)
6. How to Get a LinkedIn Verified Skills Badge|Answer Key Provided
(TresorChun)

Top Articles

You might also like

Latest Posts

Article information

Author: Roderick King

Last Updated: 11/29/2022

Views: 5647

Rating: 4 / 5 (51 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Roderick King

Birthday: 1997-10-09

Address: 3782 Madge Knoll, East Dudley, MA 63913

Phone: +2521695290067

Job: Customer Sales Coordinator

Hobby: Gunsmithing, Embroidery, Parkour, Kitesurfing, Rock climbing, Sand art, Beekeeping

Introduction: My name is Roderick King, I am a cute, splendid, excited, perfect, gentle, funny, vivacious person who loves writing and wants to share my knowledge and understanding with you.