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. 2nd step of Accounting Cycle






2. Accounting Equation






3. 7th step of Accounting Cycle






4. Common Stock






5. Income Statement Revenues






6. Goodwill






7. Dividends






8. Understandability






9. Calculating Net Income






10. Multistep Income Statement






11. Inventory






12. 1st Step of Analying Transactions






13. Intangibles






14. Accounts on Income Statement






15. Income Satement Expenses






16. 3rd step of analyzing transactions






17. Accumulated depriciation






18. Closing Entries






19. Economic Equity






20. Customer deposits






21. Balance Sheet Assets






22. 2nd step of analyzing transactions






23. Reliability






24. Accumlated depreciation






25. 4th step of analyzing transactions






26. Balance Sheet Liabilities






27. Cost of Goods Sold






28. Conservatism






29. 4th step of Accounting Cycle






30. Materiality






31. Utilities expense






32. Current Ratio






33. 9th step of Accounting Cycle






34. NonCurrent Assets






35. Retained Earnings






36. Profit Margin %






37. 8th step of Accounting Cycle






38. Accts on Statement of Retained Earnings






39. Unearned revenue






40. Consistency






41. 6th step of Accounting Cycle






42. 5th step of Accounting Cycle






43. Cash Principle






44. NonCurrent Liabilities






45. Accounts Recievable






46. Interest Revenue






47. Calculating Interest Formula






48. Current Assets






49. Accts on balance sheet






50. Prepaid insurance