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. Consistency






2. Prepaid insurance






3. Accounts Recievable






4. Monetary Unit






5. 4th step of Accounting Cycle






6. Economic Equity






7. Profit Margin %






8. 4th step of analyzing transactions






9. Reliability






10. 6th step of Accounting Cycle






11. Accounts on Income Statement






12. Calculating Net Income






13. 10th step of Accounting Cycle






14. Accts on Statement of Retained Earnings






15. 1st step of Accounting Cycle






16. Closing Entries






17. Income Satement Expenses






18. 9th step of Accounting Cycle






19. Building






20. Income Statement Revenues






21. 5th step of Accounting Cycle






22. Utilities expense






23. Unearned revenue






24. Current Assets






25. Going Concern






26. Calculating Interest Formula






27. Balance sheet Equity






28. Balance Sheet Assets






29. Accts on balance sheet






30. NonCurrent Assets






31. Accumlated depreciation






32. Materiality






33. Sales revenue






34. Interest Expense






35. Relevance






36. Cash Principle






37. Cost of Goods Sold






38. Inventory






39. 3rd step of analyzing transactions






40. Multistep Income Statement






41. Current Ratio






42. Accounting Equation






43. Balance Sheet Liabilities






44. Goodwill






45. 3rd step of Accounting Cycle






46. Common Stock






47. NonCurrent Liabilities






48. Understandability






49. Conservatism






50. Dividends