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. Accounts Recievable






2. Relevance






3. NonCurrent Assets






4. NonCurrent Liabilities






5. Calculating Net Income






6. 7th step of Accounting Cycle






7. Accumulated depriciation






8. Multistep Income Statement






9. 2nd step of analyzing transactions






10. Interest Expense






11. 3rd step of Accounting Cycle






12. Cash Principle






13. Going Concern






14. Accts on balance sheet






15. Closing Entries






16. Current Ratio






17. Income Satement Expenses






18. Inventory






19. Retained Earnings






20. Sales revenue






21. Goodwill






22. Building






23. 4th step of analyzing transactions






24. Calculating Cost depreciation






25. Current Assets






26. Conservatism






27. Economic Equity






28. Balance Sheet Liabilities






29. Note Payable






30. 3rd step of analyzing transactions






31. 6th step of Accounting Cycle






32. Dividends






33. Profit Margin %






34. Intangibles






35. Accts on Statement of Retained Earnings






36. Consistency






37. Monetary Unit






38. 4th step of Accounting Cycle






39. Income Statement Revenues






40. Accumlated depreciation






41. 10th step of Accounting Cycle






42. 1st Step of Analying Transactions






43. Balance sheet Equity






44. Balance Sheet Assets






45. 2nd step of Accounting Cycle






46. Materiality


47. Interest Revenue






48. Utilities expense






49. Calculating Interest Formula






50. Understandability