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. Reliability






2. Cash Principle






3. 5th step of Accounting Cycle






4. Calculating Net Income






5. Note Payable






6. Accumulated depriciation






7. 2nd step of analyzing transactions






8. 4th step of analyzing transactions






9. Goodwill






10. Monetary Unit






11. Calculating Interest Formula






12. 3rd step of Accounting Cycle






13. Dividends






14. NonCurrent Assets






15. 7th step of Accounting Cycle






16. Current Ratio






17. Materiality






18. Prepaid insurance






19. Interest Revenue






20. 3rd step of analyzing transactions






21. Profit Margin %






22. Balance sheet Equity






23. Income Statement Revenues






24. Interest Expense






25. NonCurrent Liabilities






26. Common Stock






27. 10th step of Accounting Cycle






28. 9th step of Accounting Cycle






29. Accounting Equation






30. Dividends






31. Accumlated depreciation






32. 1st Step of Analying Transactions






33. Economic Equity






34. Accts on balance sheet






35. 6th step of Accounting Cycle






36. Closing Entries






37. Inventory






38. Consistency






39. Cost of Goods Sold






40. Utilities expense






41. Retained Earnings






42. Balance Sheet Assets






43. 1st step of Accounting Cycle






44. Multistep Income Statement






45. 2nd step of Accounting Cycle






46. Customer deposits






47. Unearned revenue






48. Sales revenue






49. Current Assets






50. Accounts Recievable