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. Calculating Cost depreciation






2. 3rd step of analyzing transactions






3. Retained Earnings






4. Profit Margin %






5. 8th step of Accounting Cycle






6. Common Stock






7. Building






8. Utilities expense






9. 4th step of analyzing transactions






10. Dividends






11. Note Payable






12. 10th step of Accounting Cycle






13. Calculating Net Income






14. Unearned revenue






15. 7th step of Accounting Cycle






16. Economic Equity






17. 5th step of Accounting Cycle






18. Accts on Statement of Retained Earnings






19. Accounts Recievable






20. Inventory






21. Reliability






22. Monetary Unit






23. Cost of Goods Sold






24. Customer deposits






25. Current Assets






26. 4th step of Accounting Cycle






27. Understandability






28. 1st Step of Analying Transactions






29. Accumlated depreciation






30. 2nd step of Accounting Cycle






31. Cash Principle






32. Intangibles






33. Interest Expense






34. Multistep Income Statement






35. Calculating Interest Formula






36. Consistency






37. Accounting Equation






38. Current Ratio






39. Accounts on Income Statement






40. Income Statement Revenues






41. Relevance






42. NonCurrent Liabilities






43. Balance Sheet Liabilities






44. Prepaid insurance






45. Sales revenue






46. 9th step of Accounting Cycle






47. 2nd step of analyzing transactions






48. Materiality






49. Conservatism






50. Closing Entries