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. 5th step of Accounting Cycle






2. 2nd step of analyzing transactions






3. NonCurrent Assets






4. Cost of Goods Sold






5. 1st step of Accounting Cycle






6. 9th step of Accounting Cycle






7. Accumulated depriciation






8. Balance Sheet Assets






9. Sales revenue






10. Profit Margin %






11. Building






12. Balance sheet Equity






13. Monetary Unit






14. Dividends






15. Relevance






16. 2nd step of Accounting Cycle






17. 1st Step of Analying Transactions






18. Customer deposits






19. 10th step of Accounting Cycle






20. Utilities expense






21. 3rd step of Accounting Cycle






22. Retained Earnings






23. Accts on Statement of Retained Earnings






24. Multistep Income Statement






25. Going Concern






26. Economic Equity






27. NonCurrent Liabilities






28. Accumlated depreciation






29. Calculating Cost depreciation






30. Current Ratio






31. Closing Entries






32. Accounting Equation






33. Accounts Recievable






34. Cash Principle






35. Intangibles






36. 3rd step of analyzing transactions






37. Calculating Interest Formula






38. 4th step of analyzing transactions






39. Note Payable






40. Current Assets






41. Interest Expense






42. Calculating Net Income






43. Accts on balance sheet






44. Prepaid insurance






45. Unearned revenue






46. Income Satement Expenses






47. Accounts on Income Statement






48. Reliability






49. Inventory






50. Balance Sheet Liabilities