Test your basic knowledge |

Business Accounting Basics

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Interest Revenue






2. Profit Margin %






3. Accumulated depriciation






4. Interest Expense






5. Common Stock






6. Inventory






7. Income Statement Revenues






8. Conservatism






9. Dividends






10. Cash Principle






11. Accumlated depreciation






12. Current Assets






13. Accts on Statement of Retained Earnings






14. Going Concern






15. 1st Step of Analying Transactions






16. Cost of Goods Sold






17. Utilities expense






18. Building






19. 9th step of Accounting Cycle






20. Unearned revenue






21. Customer deposits






22. Dividends






23. Intangibles






24. NonCurrent Assets






25. Retained Earnings






26. Balance Sheet Assets






27. Closing Entries






28. Sales revenue






29. Prepaid insurance






30. Calculating Net Income






31. 7th step of Accounting Cycle






32. 4th step of Accounting Cycle






33. NonCurrent Liabilities






34. 3rd step of Accounting Cycle






35. 4th step of analyzing transactions






36. Current Ratio






37. 1st step of Accounting Cycle






38. Monetary Unit






39. 8th step of Accounting Cycle






40. Balance sheet Equity






41. 6th step of Accounting Cycle






42. Calculating Interest Formula






43. 10th step of Accounting Cycle






44. Note Payable






45. Multistep Income Statement






46. Calculating Cost depreciation






47. Accounts Recievable






48. Materiality






49. Economic Equity






50. 5th step of Accounting Cycle