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. Consistency






2. Accts on balance sheet






3. Current Ratio






4. Dividends






5. Conservatism






6. Economic Equity






7. Inventory






8. Understandability






9. 10th step of Accounting Cycle






10. Income Satement Expenses






11. Going Concern






12. 2nd step of analyzing transactions






13. Materiality






14. 1st Step of Analying Transactions






15. 1st step of Accounting Cycle






16. Building






17. Retained Earnings






18. Balance Sheet Assets






19. Multistep Income Statement






20. 4th step of analyzing transactions






21. Note Payable






22. Closing Entries






23. Goodwill






24. Income Statement Revenues






25. Prepaid insurance






26. 3rd step of analyzing transactions






27. NonCurrent Assets






28. Calculating Net Income






29. Utilities expense






30. Dividends






31. Cost of Goods Sold






32. Profit Margin %






33. 9th step of Accounting Cycle






34. Cash Principle






35. Current Assets






36. Accounts Recievable






37. NonCurrent Liabilities






38. Accumulated depriciation






39. 2nd step of Accounting Cycle






40. Intangibles






41. Accts on Statement of Retained Earnings






42. 5th step of Accounting Cycle






43. Balance Sheet Liabilities






44. Interest Revenue






45. Accounts on Income Statement






46. Monetary Unit






47. Interest Expense






48. Calculating Cost depreciation






49. Customer deposits






50. 3rd step of Accounting Cycle