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. Goodwill






2. 2nd step of analyzing transactions






3. Interest Expense






4. Intangibles






5. 9th step of Accounting Cycle






6. Relevance






7. Common Stock






8. Consistency






9. 3rd step of analyzing transactions






10. Balance Sheet Liabilities






11. 6th step of Accounting Cycle






12. 8th step of Accounting Cycle






13. Income Satement Expenses






14. Inventory






15. Note Payable






16. Building






17. Calculating Net Income






18. Reliability






19. Accounts Recievable






20. 3rd step of Accounting Cycle






21. Accts on Statement of Retained Earnings






22. 1st Step of Analying Transactions






23. 7th step of Accounting Cycle






24. Closing Entries






25. Cost of Goods Sold






26. Accounts on Income Statement






27. 1st step of Accounting Cycle






28. Profit Margin %






29. Balance sheet Equity






30. Cash Principle






31. Dividends






32. Economic Equity






33. Accumlated depreciation






34. Sales revenue






35. Accts on balance sheet






36. Monetary Unit






37. Income Statement Revenues






38. Conservatism






39. 4th step of analyzing transactions






40. 2nd step of Accounting Cycle






41. Customer deposits






42. Accumulated depriciation






43. Calculating Cost depreciation






44. Accounting Equation






45. Current Assets






46. 10th step of Accounting Cycle






47. Utilities expense






48. Current Ratio






49. Balance Sheet Assets






50. Materiality