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. Reliability






2. Inventory






3. Consistency






4. 1st Step of Analying Transactions






5. 8th step of Accounting Cycle






6. Income Statement Revenues






7. Economic Equity






8. Cash Principle






9. Unearned revenue






10. Income Satement Expenses






11. Interest Expense






12. Understandability






13. 3rd step of analyzing transactions






14. 9th step of Accounting Cycle






15. Going Concern






16. Multistep Income Statement






17. Accounts Recievable






18. Retained Earnings






19. Materiality






20. 5th step of Accounting Cycle






21. 4th step of Accounting Cycle






22. Goodwill






23. Balance Sheet Assets






24. Interest Revenue






25. Note Payable






26. Current Ratio






27. NonCurrent Liabilities






28. Current Assets






29. Calculating Net Income






30. Accounts on Income Statement






31. Utilities expense






32. 2nd step of Accounting Cycle






33. Conservatism






34. Accumlated depreciation






35. Accounting Equation






36. Cost of Goods Sold






37. Accumulated depriciation






38. 6th step of Accounting Cycle






39. Customer deposits






40. 1st step of Accounting Cycle






41. Common Stock






42. Accts on Statement of Retained Earnings






43. Balance sheet Equity






44. NonCurrent Assets






45. 10th step of Accounting Cycle






46. Accts on balance sheet






47. Dividends






48. Calculating Cost depreciation






49. Building






50. Profit Margin %