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. Cost of Goods Sold






2. Building






3. Relevance






4. 6th step of Accounting Cycle






5. 4th step of analyzing transactions






6. Retained Earnings






7. NonCurrent Liabilities






8. 9th step of Accounting Cycle






9. Accumulated depriciation






10. 5th step of Accounting Cycle






11. Income Satement Expenses






12. Cash Principle






13. Profit Margin %






14. Interest Revenue






15. 4th step of Accounting Cycle






16. 2nd step of Accounting Cycle






17. Interest Expense






18. Understandability






19. Balance Sheet Assets






20. Materiality


21. Accumlated depreciation






22. Prepaid insurance






23. Goodwill






24. Dividends






25. 1st Step of Analying Transactions






26. Utilities expense






27. Calculating Cost depreciation






28. Current Assets






29. Monetary Unit






30. Customer deposits






31. 10th step of Accounting Cycle






32. Conservatism






33. Closing Entries






34. Balance Sheet Liabilities






35. Intangibles






36. NonCurrent Assets






37. Calculating Net Income






38. Note Payable






39. Accts on balance sheet






40. Accounting Equation






41. 3rd step of analyzing transactions






42. Accounts on Income Statement






43. Income Statement Revenues






44. 8th step of Accounting Cycle






45. Current Ratio






46. Sales revenue






47. Accounts Recievable






48. 2nd step of analyzing transactions






49. Unearned revenue






50. 7th step of Accounting Cycle