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. Going Concern






2. NonCurrent Liabilities






3. Balance Sheet Liabilities






4. 3rd step of analyzing transactions






5. 8th step of Accounting Cycle






6. Sales revenue






7. Accounting Equation






8. Consistency






9. Income Statement Revenues






10. Interest Revenue






11. 3rd step of Accounting Cycle






12. Prepaid insurance






13. Unearned revenue






14. Dividends






15. Multistep Income Statement






16. Building






17. 4th step of analyzing transactions






18. Closing Entries






19. Intangibles






20. Calculating Cost depreciation






21. Reliability






22. Accts on balance sheet






23. 1st Step of Analying Transactions






24. Current Assets






25. Accounts on Income Statement






26. Customer deposits






27. 10th step of Accounting Cycle






28. Accounts Recievable






29. Materiality


30. Interest Expense






31. Common Stock






32. Retained Earnings






33. Income Satement Expenses






34. Balance sheet Equity






35. Monetary Unit






36. Cost of Goods Sold






37. Utilities expense






38. 4th step of Accounting Cycle






39. 2nd step of analyzing transactions






40. 1st step of Accounting Cycle






41. Dividends






42. Understandability






43. Accts on Statement of Retained Earnings






44. 7th step of Accounting Cycle






45. Accumlated depreciation






46. Cash Principle






47. Conservatism






48. Profit Margin %






49. Note Payable






50. Balance Sheet Assets