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. Cash Principle

2. 4th step of Accounting Cycle

3. Accumulated depriciation

4. Income Satement Expenses

5. Current Assets

6. Conservatism

7. NonCurrent Liabilities

8. Closing Entries

9. Building

10. NonCurrent Assets

11. 8th step of Accounting Cycle

12. Reliability

13. Prepaid insurance

14. Customer deposits

15. Note Payable

16. Calculating Interest Formula

17. 2nd step of Accounting Cycle

18. 4th step of analyzing transactions

19. Cost of Goods Sold

20. 9th step of Accounting Cycle

21. Inventory

22. Multistep Income Statement

23. Balance sheet Equity

24. Relevance

25. Calculating Cost depreciation

26. Unearned revenue

27. 3rd step of analyzing transactions

28. Current Ratio

29. Accumlated depreciation

30. Interest Expense

31. Retained Earnings

32. Economic Equity

33. Utilities expense

34. 6th step of Accounting Cycle

35. 1st Step of Analying Transactions

36. Dividends

37. Going Concern

38. 5th step of Accounting Cycle

39. 3rd step of Accounting Cycle

40. 2nd step of analyzing transactions

41. Income Statement Revenues

42. 1st step of Accounting Cycle

43. Calculating Net Income

44. Monetary Unit

45. Common Stock

46. Accts on Statement of Retained Earnings

47. Dividends

48. Understandability

49. Balance Sheet Liabilities

50. Balance Sheet Assets