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. 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