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. Cash Principle






2. Profit Margin %






3. Income Satement Expenses






4. 4th step of analyzing transactions






5. Understandability






6. Accounting Equation






7. Interest Revenue






8. Calculating Interest Formula






9. 3rd step of Accounting Cycle






10. 5th step of Accounting Cycle






11. Accts on Statement of Retained Earnings






12. Dividends






13. 10th step of Accounting Cycle






14. 2nd step of analyzing transactions






15. Economic Equity






16. Unearned revenue






17. NonCurrent Liabilities






18. Relevance






19. Materiality






20. Sales revenue






21. 8th step of Accounting Cycle






22. Accumlated depreciation






23. Going Concern






24. Balance sheet Equity






25. Dividends






26. Customer deposits






27. Building






28. Balance Sheet Assets






29. Reliability






30. Calculating Cost depreciation






31. Common Stock






32. Inventory






33. 1st step of Accounting Cycle






34. Current Assets






35. Multistep Income Statement






36. 3rd step of analyzing transactions






37. 1st Step of Analying Transactions






38. Current Ratio






39. Goodwill






40. 6th step of Accounting Cycle






41. Closing Entries






42. 7th step of Accounting Cycle






43. Cost of Goods Sold






44. Intangibles






45. Consistency






46. NonCurrent Assets






47. Accounts on Income Statement






48. 2nd step of Accounting Cycle






49. Note Payable






50. Retained Earnings