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. Accumulated depriciation






2. Common Stock






3. Multistep Income Statement






4. Income Statement Revenues






5. NonCurrent Liabilities






6. 3rd step of analyzing transactions






7. 4th step of analyzing transactions






8. 10th step of Accounting Cycle






9. Relevance






10. Dividends






11. Prepaid insurance






12. Accounts on Income Statement






13. Accts on balance sheet






14. Reliability






15. 2nd step of Accounting Cycle






16. Calculating Cost depreciation






17. Profit Margin %






18. Calculating Interest Formula






19. Income Satement Expenses






20. Accumlated depreciation






21. Unearned revenue






22. Economic Equity






23. Building






24. Monetary Unit






25. Cash Principle






26. 8th step of Accounting Cycle






27. Accounting Equation






28. Customer deposits






29. Interest Revenue






30. 7th step of Accounting Cycle






31. NonCurrent Assets






32. Balance sheet Equity






33. Balance Sheet Liabilities






34. 1st step of Accounting Cycle






35. Utilities expense






36. Inventory






37. Accounts Recievable






38. Consistency






39. 1st Step of Analying Transactions






40. Goodwill






41. Calculating Net Income






42. 9th step of Accounting Cycle






43. Sales revenue






44. Current Ratio






45. 3rd step of Accounting Cycle






46. Cost of Goods Sold






47. 2nd step of analyzing transactions






48. Interest Expense






49. 5th step of Accounting Cycle






50. Current Assets