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. 2nd step of Accounting Cycle






2. Dividends






3. Balance sheet Equity






4. Dividends






5. Retained Earnings






6. Cost of Goods Sold






7. Materiality






8. Balance Sheet Liabilities






9. Accumlated depreciation






10. Sales revenue






11. 8th step of Accounting Cycle






12. 3rd step of analyzing transactions






13. Utilities expense






14. Current Ratio






15. Income Statement Revenues






16. Common Stock






17. 6th step of Accounting Cycle






18. Interest Expense






19. Reliability






20. Multistep Income Statement






21. 7th step of Accounting Cycle






22. 2nd step of analyzing transactions






23. 5th step of Accounting Cycle






24. Calculating Cost depreciation






25. 1st step of Accounting Cycle






26. NonCurrent Assets






27. Prepaid insurance






28. Going Concern






29. Balance Sheet Assets






30. Monetary Unit






31. Accumulated depriciation






32. Accounting Equation






33. Conservatism






34. Closing Entries






35. Accts on Statement of Retained Earnings






36. Consistency






37. Current Assets






38. Relevance






39. Calculating Net Income






40. Intangibles






41. Economic Equity






42. Note Payable






43. Income Satement Expenses






44. 9th step of Accounting Cycle






45. Cash Principle






46. 3rd step of Accounting Cycle






47. Understandability






48. 4th step of Accounting Cycle






49. 4th step of analyzing transactions






50. Accounts on Income Statement