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. 7th step of Accounting Cycle

2. 3rd step of Accounting Cycle

3. Accts on balance sheet

4. Cash Principle

5. 1st step of Accounting Cycle

6. 8th step of Accounting Cycle

7. Current Ratio

8. Dividends

9. 1st Step of Analying Transactions

10. Cost of Goods Sold

11. Goodwill

12. Income Statement Revenues

13. 10th step of Accounting Cycle

14. Inventory

15. Building

16. Interest Revenue

17. Accts on Statement of Retained Earnings

18. 9th step of Accounting Cycle

19. Sales revenue

20. Current Assets

21. Reliability

22. Calculating Cost depreciation

23. Accounting Equation

24. Understandability

25. Going Concern

26. 2nd step of analyzing transactions

27. 4th step of Accounting Cycle

28. Balance Sheet Assets

29. Accumlated depreciation

30. Accounts Recievable

31. Unearned revenue

32. Note Payable

33. NonCurrent Liabilities

34. Dividends

35. Relevance

36. 3rd step of analyzing transactions

37. NonCurrent Assets

38. Closing Entries

39. Common Stock

40. 2nd step of Accounting Cycle

41. Economic Equity

42. Calculating Net Income

43. Monetary Unit

44. 4th step of analyzing transactions

45. Accumulated depriciation

46. 6th step of Accounting Cycle

47. Conservatism

48. Materiality

49. Multistep Income Statement

50. Interest Expense