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. 4th step of Accounting Cycle






2. Monetary Unit






3. Cost of Goods Sold






4. 9th step of Accounting Cycle






5. 2nd step of analyzing transactions






6. NonCurrent Liabilities






7. Materiality

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8. Conservatism






9. Income Statement Revenues






10. Intangibles






11. Closing Entries






12. Goodwill






13. Prepaid insurance






14. Current Assets






15. Balance Sheet Assets






16. Profit Margin %






17. Accumlated depreciation






18. Multistep Income Statement






19. Dividends






20. Interest Revenue






21. Sales revenue






22. Accounts on Income Statement






23. Income Satement Expenses






24. Going Concern






25. Calculating Cost depreciation






26. 8th step of Accounting Cycle






27. Calculating Net Income






28. Retained Earnings






29. 1st step of Accounting Cycle






30. Note Payable






31. Balance Sheet Liabilities






32. Customer deposits






33. NonCurrent Assets






34. Common Stock






35. Accts on Statement of Retained Earnings






36. 1st Step of Analying Transactions






37. 5th step of Accounting Cycle






38. Understandability






39. Calculating Interest Formula






40. 3rd step of analyzing transactions






41. Dividends






42. 6th step of Accounting Cycle






43. Building






44. 7th step of Accounting Cycle






45. Economic Equity






46. Unearned revenue






47. 2nd step of Accounting Cycle






48. Accts on balance sheet






49. Consistency






50. Relevance