Assess your Month-End Close proficiency: Test your skill abilities

Empower your organization with Month-End Close by taking our free Month-End Close Assessment Test. Identify your team's areas of expertise and potential areas for improvement to pave the way for success.

Test Duration: 30 mins |
No of questions: 40 |
Level of experience: Beginner/Intermediate/Expert

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Month-End Close Online Test Summary

Month-End Close tests by Elite Learning is a scientifically designed assessment by our subject experts. This test evaluates an individual's skills and knowledge in Month-End Close . Employers can use the results to evaluate candidates proficiency in Month-End Close and make informed hiring decisions. Additionally individuals can use their test results to identify areas where they need to improve their skills and knowledge in Month-End Close .

Topics Covered In Month-End Close

General Ledger and Other Ledgers

Trial Balance

The Public Company Close

Controls for Closing the books

Closing Inventory

Closing Fixed Assets

Closing Cash

Journal Entries

Closing process

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Sample Questions for Month-End Close are:

Q. Which of the following is an example of a common timing difference that may require a reversing entry during the month-end close process?

A. Prepaid expenses

B. Accrued expenses

C. Depreciation expense

D. Unearned revenue

Q. What is the purpose of performing a detailed review of the general ledger during the month-end close process?

A. To identify errors or omissions in the financial statements.

B. To calculate depreciation expense.

C. To reconcile intercompany transactions.

D. To prepare the statement of cash flows.

Q. Which of the following is a purpose of the financial statement analysis performed during the month-end close process?

A. To reconcile bank statements.

B. To calculate depreciation expense.

C. To evaluate the financial performance and position of the company.

D. To record adjusting entries.

Q. What is the purpose of performing a bank reconciliation during the month-end close process?

A. To verify the accuracy of cash balances.

B. To reconcile intercompany transactions.

C. To calculate depreciation expense.

D. To record adjusting entries.

Q. Which of the following is a key objective of the month-end close process?

A. To identify errors in the financial statements.

B. To calculate depreciation expense.

C. To reconcile intercompany transactions.

D. To record adjusting entries.

Top Job Roles that need Month-End Close are:

Accounting Supervisor

Assistant Controller

Cost Accountant

Financial Accountant

General Ledger Accountant

Management Accountant

Senior Accountant

Assistant Accountant

Accounting Manager

Become an expert in Month-End Close

Did not score well? Do not worry! Elite Learning does not only heilp you with Month-End Close skill assessment but also helps with bridging the gaps across the different knowledge areas. Elite Learning is a one-stop 360 upskilling solution for the workplace! Get access to the best-curated learning content for Data Analytics and become an expert.

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Top Related Skills to Month-End Close are:

internal audit

general ledger accounting

financial reporting

tax preparation

financial accounting

accounts receivable

financial analysis

accounting - india

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Frequently Asked Questions(FAQ)

The questions in the Month-End Close online test will be multiple choice and may cover topics such as General Ledger and Other Ledgers,Trial Balance,The Public Company Close,Controls for Closing the books,Closing Inventory,Closing Fixed Assets,Closing Cash,Journal Entries,Closing process

You can use the 7 hrs of learning content including 35 videos available on the EliteLearning platform to prepare for the Month-End Close online test.

Month-End Close test on the EliteLearning platform is an online proctored assessment and requires you to complete the test without any external help.

This test evaluates an individual's skills and knowledge of Month-End Close. It can also be useful for identifying areas that you need to improve upon, as well as for preparing for job interviews or certification exams in Month-End Close.

Yes, these tests can be used to demonstrate your knowledge and skills in Month-End Close for certification or job interviews. Job roles such as Accounting Supervisor,Assistant Controller,Cost Accountant,Financial Accountant require Month-End Close as a primary skill set

Yes. You can take the Month-End Close online test for free as part of the EliteLearning free plan.