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 to obvious but it re-enforces your understanding as you take the test each time.
1. Retained Earnings






2. Materiality






3. Accounts on Income Statement






4. Intangibles






5. Economic Equity






6. Accounts Recievable






7. Reliability






8. Dividends






9. Accumlated depreciation






10. Consistency






11. NonCurrent Assets






12. Conservatism






13. 2nd step of analyzing transactions






14. Cash Principle






15. Calculating Net Income






16. 4th step of Accounting Cycle






17. 1st step of Accounting Cycle






18. Monetary Unit






19. Current Ratio






20. 2nd step of Accounting Cycle






21. 10th step of Accounting Cycle






22. Profit Margin %






23. Income Statement Revenues






24. Balance Sheet Assets






25. 4th step of analyzing transactions






26. Goodwill






27. Calculating Interest Formula






28. Unearned revenue






29. 3rd step of Accounting Cycle






30. 1st Step of Analying Transactions






31. 8th step of Accounting Cycle






32. Note Payable






33. Dividends






34. Building






35. Accumulated depriciation






36. Interest Revenue






37. Understandability






38. Utilities expense






39. Prepaid insurance






40. Multistep Income Statement






41. NonCurrent Liabilities






42. Accounting Equation






43. 9th step of Accounting Cycle






44. Common Stock






45. Income Satement Expenses






46. Balance Sheet Liabilities






47. 3rd step of analyzing transactions






48. Accts on Statement of Retained Earnings






49. Cost of Goods Sold






50. Inventory