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. Goodwill






2. Calculating Cost depreciation






3. Relevance






4. 4th step of Accounting Cycle






5. 4th step of analyzing transactions






6. Income Statement Revenues






7. Current Assets






8. 1st step of Accounting Cycle






9. 3rd step of analyzing transactions






10. Sales revenue






11. Multistep Income Statement






12. Consistency






13. Closing Entries






14. Profit Margin %






15. Accounting Equation






16. Intangibles






17. 1st Step of Analying Transactions






18. Balance sheet Equity






19. 9th step of Accounting Cycle






20. Calculating Interest Formula






21. Prepaid insurance






22. Calculating Net Income






23. Going Concern






24. Understandability






25. Note Payable






26. Monetary Unit






27. Reliability






28. Cash Principle






29. Dividends






30. Utilities expense






31. Dividends






32. NonCurrent Liabilities






33. Accts on balance sheet






34. Economic Equity






35. 6th step of Accounting Cycle






36. Unearned revenue






37. Common Stock






38. Retained Earnings






39. Balance Sheet Liabilities






40. Balance Sheet Assets






41. Accounts Recievable






42. Accounts on Income Statement






43. 5th step of Accounting Cycle






44. Interest Revenue






45. Accts on Statement of Retained Earnings






46. 2nd step of analyzing transactions






47. Customer deposits






48. Inventory






49. Conservatism






50. 3rd step of Accounting Cycle