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. 3rd step of analyzing transactions






2. Dividends






3. Accts on Statement of Retained Earnings






4. Current Ratio






5. Consistency






6. NonCurrent Liabilities






7. 3rd step of Accounting Cycle






8. 1st step of Accounting Cycle






9. Income Statement Revenues






10. 9th step of Accounting Cycle






11. Intangibles






12. Calculating Net Income






13. Interest Revenue






14. Calculating Cost depreciation






15. Profit Margin %






16. 2nd step of analyzing transactions






17. Going Concern






18. Accounting Equation






19. Cash Principle






20. 10th step of Accounting Cycle






21. Retained Earnings






22. Closing Entries






23. Conservatism






24. 7th step of Accounting Cycle






25. Current Assets






26. 8th step of Accounting Cycle






27. 6th step of Accounting Cycle






28. Multistep Income Statement






29. Reliability






30. Cost of Goods Sold






31. Understandability






32. Accumlated depreciation






33. 4th step of Accounting Cycle






34. Customer deposits






35. 4th step of analyzing transactions






36. Inventory






37. Accts on balance sheet






38. 5th step of Accounting Cycle






39. Calculating Interest Formula






40. Interest Expense






41. Unearned revenue






42. Balance Sheet Liabilities






43. Economic Equity






44. Materiality






45. Accumulated depriciation






46. Income Satement Expenses






47. NonCurrent Assets






48. Prepaid insurance






49. Building






50. Note Payable