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. Profit Margin %






2. Income Statement Revenues






3. Customer deposits






4. 2nd step of Accounting Cycle






5. Current Assets






6. Monetary Unit






7. Accounts on Income Statement






8. Calculating Net Income






9. 4th step of Accounting Cycle






10. Intangibles






11. Balance Sheet Liabilities






12. Prepaid insurance






13. Inventory






14. Note Payable






15. Multistep Income Statement






16. Calculating Cost depreciation






17. 10th step of Accounting Cycle






18. Economic Equity






19. Balance Sheet Assets






20. NonCurrent Assets






21. NonCurrent Liabilities






22. Understandability






23. Interest Expense






24. Unearned revenue






25. 4th step of analyzing transactions






26. Cost of Goods Sold






27. Accounts Recievable






28. Balance sheet Equity






29. 2nd step of analyzing transactions






30. Relevance






31. Conservatism






32. Reliability






33. Dividends






34. 3rd step of Accounting Cycle






35. Accts on balance sheet






36. Accumlated depreciation






37. 6th step of Accounting Cycle






38. 9th step of Accounting Cycle






39. Materiality


40. 8th step of Accounting Cycle






41. 1st Step of Analying Transactions






42. Accumulated depriciation






43. Building






44. Dividends






45. Closing Entries






46. Going Concern






47. 1st step of Accounting Cycle






48. Income Satement Expenses






49. 5th step of Accounting Cycle






50. Retained Earnings