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. Inventory






2. 1st Step of Analying Transactions






3. Current Assets






4. Intangibles






5. Accounts on Income Statement






6. Dividends






7. 1st step of Accounting Cycle






8. 5th step of Accounting Cycle






9. Closing Entries






10. Monetary Unit






11. Interest Revenue






12. 6th step of Accounting Cycle






13. 4th step of Accounting Cycle






14. 3rd step of Accounting Cycle






15. Balance Sheet Liabilities






16. Balance Sheet Assets






17. Consistency






18. NonCurrent Assets






19. Cost of Goods Sold






20. 7th step of Accounting Cycle






21. Multistep Income Statement






22. 8th step of Accounting Cycle






23. Understandability






24. Balance sheet Equity






25. Income Satement Expenses






26. Economic Equity






27. Reliability






28. Goodwill






29. Utilities expense






30. Calculating Cost depreciation






31. Dividends






32. Accounting Equation






33. Retained Earnings






34. Building






35. Unearned revenue






36. Calculating Net Income






37. Profit Margin %






38. Accts on balance sheet






39. NonCurrent Liabilities






40. Prepaid insurance






41. 2nd step of Accounting Cycle






42. Interest Expense






43. Note Payable






44. Conservatism






45. Customer deposits






46. Accumlated depreciation






47. 3rd step of analyzing transactions






48. Income Statement Revenues






49. Calculating Interest Formula






50. 9th step of Accounting Cycle