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. Multistep Income Statement






2. 10th step of Accounting Cycle






3. 3rd step of Accounting Cycle






4. 9th step of Accounting Cycle






5. Income Statement Revenues






6. 8th step of Accounting Cycle






7. Current Ratio






8. Accounting Equation






9. Closing Entries






10. Going Concern






11. 5th step of Accounting Cycle






12. Goodwill






13. Utilities expense






14. 3rd step of analyzing transactions






15. 4th step of Accounting Cycle






16. Calculating Cost depreciation






17. Materiality






18. Reliability






19. Current Assets






20. 2nd step of Accounting Cycle






21. Note Payable






22. Balance Sheet Liabilities






23. Unearned revenue






24. NonCurrent Assets






25. Balance Sheet Assets






26. 7th step of Accounting Cycle






27. Relevance






28. Accumlated depreciation






29. Cost of Goods Sold






30. Accounts on Income Statement






31. Retained Earnings






32. Income Satement Expenses






33. Common Stock






34. Balance sheet Equity






35. Accounts Recievable






36. 1st Step of Analying Transactions






37. Understandability






38. Interest Revenue






39. Accts on Statement of Retained Earnings






40. Inventory






41. Prepaid insurance






42. Sales revenue






43. Accumulated depriciation






44. Dividends






45. Calculating Net Income






46. Consistency






47. 2nd step of analyzing transactions






48. NonCurrent Liabilities






49. 4th step of analyzing transactions






50. Economic Equity