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. Reliability






3. Dividends






4. Calculating Interest Formula






5. 2nd step of Accounting Cycle






6. 4th step of analyzing transactions






7. Current Assets






8. Conservatism






9. Unearned revenue






10. Calculating Net Income






11. Common Stock






12. 3rd step of Accounting Cycle






13. Inventory






14. Understandability






15. Economic Equity






16. Note Payable






17. Closing Entries






18. Relevance






19. 5th step of Accounting Cycle






20. Intangibles






21. Accts on balance sheet






22. Accounting Equation






23. NonCurrent Liabilities






24. Balance sheet Equity






25. Prepaid insurance






26. Cash Principle






27. 1st Step of Analying Transactions






28. Sales revenue






29. Retained Earnings






30. NonCurrent Assets






31. Utilities expense






32. 8th step of Accounting Cycle






33. Accumulated depriciation






34. Accumlated depreciation






35. Income Statement Revenues






36. Balance Sheet Liabilities






37. Goodwill






38. 2nd step of analyzing transactions






39. 3rd step of analyzing transactions






40. Accounts Recievable






41. Calculating Cost depreciation






42. Interest Expense






43. Dividends






44. Materiality






45. Accts on Statement of Retained Earnings






46. 10th step of Accounting Cycle






47. Income Satement Expenses






48. Interest Revenue






49. Balance Sheet Assets






50. Building