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. 1st Step of Analying Transactions






2. 4th step of analyzing transactions






3. Accounts Recievable






4. Materiality






5. Interest Expense






6. 6th step of Accounting Cycle






7. Utilities expense






8. Accts on balance sheet






9. Calculating Cost depreciation






10. Inventory






11. Dividends






12. Customer deposits






13. Prepaid insurance






14. 9th step of Accounting Cycle






15. Multistep Income Statement






16. 2nd step of Accounting Cycle






17. 1st step of Accounting Cycle






18. Understandability






19. Consistency






20. NonCurrent Assets






21. Balance sheet Equity






22. Conservatism






23. Income Satement Expenses






24. Accounts on Income Statement






25. Relevance






26. 10th step of Accounting Cycle






27. Dividends






28. NonCurrent Liabilities






29. Building






30. Income Statement Revenues






31. Closing Entries






32. 4th step of Accounting Cycle






33. Common Stock






34. Cash Principle






35. Retained Earnings






36. Interest Revenue






37. Balance Sheet Assets






38. Balance Sheet Liabilities






39. 7th step of Accounting Cycle






40. Accts on Statement of Retained Earnings






41. 2nd step of analyzing transactions






42. Going Concern






43. Reliability






44. Accumlated depreciation






45. Sales revenue






46. Note Payable






47. Accounting Equation






48. 8th step of Accounting Cycle






49. Current Ratio






50. 3rd step of Accounting Cycle