Test your basic knowledge |

Business Accounting Basics

Subject : business-skills
  • 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. NonCurrent Liabilities

2. Income Statement Revenues

3. Dividends

4. Consistency

5. Retained Earnings

6. Cash Principle

7. Closing Entries

8. Accts on Statement of Retained Earnings

9. Note Payable

10. Accts on balance sheet

11. Balance Sheet Liabilities

12. Current Assets

13. Accumlated depreciation

14. NonCurrent Assets

15. 4th step of analyzing transactions

16. 8th step of Accounting Cycle

17. Calculating Interest Formula

18. 3rd step of analyzing transactions

19. Balance sheet Equity

20. Calculating Cost depreciation

21. 2nd step of Accounting Cycle

22. Reliability

23. Monetary Unit

24. Current Ratio

25. 10th step of Accounting Cycle

26. Accounts Recievable

27. Interest Revenue

28. 1st step of Accounting Cycle

29. Economic Equity

30. Unearned revenue

31. Intangibles

32. Balance Sheet Assets

33. Customer deposits

34. Utilities expense

35. 6th step of Accounting Cycle

36. Accumulated depriciation

37. Relevance

38. 4th step of Accounting Cycle

39. 2nd step of analyzing transactions

40. 5th step of Accounting Cycle

41. Multistep Income Statement

42. Goodwill

43. 1st Step of Analying Transactions

44. Accounts on Income Statement

45. Materiality

46. Accounting Equation

47. 7th step of Accounting Cycle

48. 9th step of Accounting Cycle

49. Cost of Goods Sold

50. Interest Expense