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. Cost of Goods Sold






2. 3rd step of analyzing transactions






3. Current Assets






4. Understandability






5. NonCurrent Assets






6. Prepaid insurance






7. Dividends






8. Calculating Net Income






9. 1st step of Accounting Cycle






10. Accts on Statement of Retained Earnings






11. NonCurrent Liabilities






12. 9th step of Accounting Cycle






13. Inventory






14. Materiality






15. 6th step of Accounting Cycle






16. Relevance






17. Intangibles






18. Unearned revenue






19. Closing Entries






20. Income Statement Revenues






21. Conservatism






22. 3rd step of Accounting Cycle






23. Balance Sheet Liabilities






24. Profit Margin %






25. Calculating Cost depreciation






26. 2nd step of analyzing transactions






27. 2nd step of Accounting Cycle






28. Accounts on Income Statement






29. Accts on balance sheet






30. 4th step of Accounting Cycle






31. Note Payable






32. Interest Expense






33. 7th step of Accounting Cycle






34. 5th step of Accounting Cycle






35. Retained Earnings






36. Interest Revenue






37. Utilities expense






38. Balance sheet Equity






39. 1st Step of Analying Transactions






40. Income Satement Expenses






41. Common Stock






42. Economic Equity






43. Sales revenue






44. Balance Sheet Assets






45. Building






46. Accounts Recievable






47. Going Concern






48. Accumulated depriciation






49. Accounting Equation






50. Customer deposits