Test your basic knowledge |

Business Accounting Basics

Subject : business-skills
  • 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. Multistep Income Statement

2. 10th step of Accounting Cycle

3. 3rd step of Accounting Cycle

4. 9th step of Accounting Cycle

5. Income Statement Revenues

6. 8th step of Accounting Cycle

7. Current Ratio

8. Accounting Equation

9. Closing Entries

10. Going Concern

11. 5th step of Accounting Cycle

12. Goodwill

13. Utilities expense

14. 3rd step of analyzing transactions

15. 4th step of Accounting Cycle

16. Calculating Cost depreciation

17. Materiality

18. Reliability

19. Current Assets

20. 2nd step of Accounting Cycle

21. Note Payable

22. Balance Sheet Liabilities

23. Unearned revenue

24. NonCurrent Assets

25. Balance Sheet Assets

26. 7th step of Accounting Cycle

27. Relevance

28. Accumlated depreciation

29. Cost of Goods Sold

30. Accounts on Income Statement

31. Retained Earnings

32. Income Satement Expenses

33. Common Stock

34. Balance sheet Equity

35. Accounts Recievable

36. 1st Step of Analying Transactions

37. Understandability

38. Interest Revenue

39. Accts on Statement of Retained Earnings

40. Inventory

41. Prepaid insurance

42. Sales revenue

43. Accumulated depriciation

44. Dividends

45. Calculating Net Income

46. Consistency

47. 2nd step of analyzing transactions

48. NonCurrent Liabilities

49. 4th step of analyzing transactions

50. Economic Equity