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. 7th step of Accounting Cycle






2. 2nd step of analyzing transactions






3. 10th step of Accounting Cycle






4. Economic Equity






5. Consistency






6. Accounts on Income Statement






7. 3rd step of analyzing transactions






8. Understandability






9. Materiality


10. Note Payable






11. Income Statement Revenues






12. 4th step of Accounting Cycle






13. Conservatism






14. Accts on balance sheet






15. Going Concern






16. Building






17. Balance Sheet Assets






18. Calculating Net Income






19. Cash Principle






20. Cost of Goods Sold






21. Accts on Statement of Retained Earnings






22. 1st Step of Analying Transactions






23. Accounting Equation






24. NonCurrent Assets






25. Customer deposits






26. Calculating Interest Formula






27. 3rd step of Accounting Cycle






28. Monetary Unit






29. Calculating Cost depreciation






30. Balance sheet Equity






31. Dividends






32. Dividends






33. NonCurrent Liabilities






34. Reliability






35. 1st step of Accounting Cycle






36. Relevance






37. 9th step of Accounting Cycle






38. Prepaid insurance






39. Current Assets






40. Common Stock






41. Balance Sheet Liabilities






42. 4th step of analyzing transactions






43. Current Ratio






44. 6th step of Accounting Cycle






45. Income Satement Expenses






46. Unearned revenue






47. Closing Entries






48. Multistep Income Statement






49. 5th step of Accounting Cycle






50. 2nd step of Accounting Cycle