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. Common Stock






2. Relevance






3. Accounting Equation






4. Monetary Unit






5. 4th step of Accounting Cycle






6. Understandability






7. Consistency






8. Profit Margin %






9. Goodwill






10. Balance Sheet Liabilities






11. 2nd step of Accounting Cycle






12. Reliability






13. Accts on Statement of Retained Earnings






14. Accumlated depreciation






15. Inventory






16. Cash Principle






17. Dividends






18. Income Satement Expenses






19. NonCurrent Assets






20. Economic Equity






21. Income Statement Revenues






22. Conservatism






23. 3rd step of Accounting Cycle






24. 9th step of Accounting Cycle






25. Going Concern






26. Accounts on Income Statement






27. Dividends






28. Interest Expense






29. NonCurrent Liabilities






30. Utilities expense






31. Customer deposits






32. 7th step of Accounting Cycle






33. Interest Revenue






34. 1st Step of Analying Transactions






35. Balance sheet Equity






36. Closing Entries






37. 8th step of Accounting Cycle






38. Calculating Cost depreciation






39. Multistep Income Statement






40. Accumulated depriciation






41. 5th step of Accounting Cycle






42. 6th step of Accounting Cycle






43. Unearned revenue






44. 3rd step of analyzing transactions






45. Current Ratio






46. Cost of Goods Sold






47. 1st step of Accounting Cycle






48. Balance Sheet Assets






49. Calculating Net Income






50. Retained Earnings