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 Accounting Cycle






2. Dividends






3. Unearned revenue






4. Goodwill






5. 2nd step of Accounting Cycle






6. 9th step of Accounting Cycle






7. Inventory






8. Building






9. Understandability






10. Common Stock






11. Going Concern






12. Interest Revenue






13. NonCurrent Liabilities






14. 5th step of Accounting Cycle






15. Accounts Recievable






16. Balance Sheet Liabilities






17. Dividends






18. 1st Step of Analying Transactions






19. Accts on balance sheet






20. 6th step of Accounting Cycle






21. Income Satement Expenses






22. Sales revenue






23. Prepaid insurance






24. NonCurrent Assets






25. Balance sheet Equity






26. Consistency






27. 3rd step of Accounting Cycle






28. Note Payable






29. Multistep Income Statement






30. Reliability






31. Intangibles






32. Closing Entries






33. Utilities expense






34. Customer deposits






35. Current Ratio






36. Materiality






37. Calculating Interest Formula






38. Income Statement Revenues






39. 8th step of Accounting Cycle






40. Calculating Cost depreciation






41. Relevance






42. Accts on Statement of Retained Earnings






43. Economic Equity






44. Accumlated depreciation






45. Balance Sheet Assets






46. Calculating Net Income






47. Accounting Equation






48. Interest Expense






49. Cost of Goods Sold






50. Current Assets