## Test your basic knowledge |

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. NonCurrent Liabilities

2. Income Satement Expenses

3. Relevance

4. Prepaid insurance

5. Goodwill

6. 1st Step of Analying Transactions

7. Current Ratio

8. Multistep Income Statement

9. Income Statement Revenues

10. 1st step of Accounting Cycle

11. 2nd step of analyzing transactions

12. Accts on Statement of Retained Earnings

13. Monetary Unit

14. 7th step of Accounting Cycle

15. 2nd step of Accounting Cycle

16. 3rd step of Accounting Cycle

17. Sales revenue

18. Cash Principle

19. Accts on balance sheet

20. 8th step of Accounting Cycle

21. Calculating Cost depreciation

22. Cost of Goods Sold

23. Accumlated depreciation

24. Balance sheet Equity

25. Balance Sheet Liabilities

26. Building

27. NonCurrent Assets

28. 4th step of Accounting Cycle

29. Dividends

30. 5th step of Accounting Cycle

31. Materiality

32. Note Payable

33. Current Assets

34. 3rd step of analyzing transactions

35. Profit Margin %

36. Unearned revenue

37. Interest Expense

38. Calculating Net Income

39. 10th step of Accounting Cycle

40. Economic Equity

41. Dividends

42. Accounts Recievable

43. Reliability

44. Interest Revenue

45. Going Concern

46. Understandability

47. Intangibles

48. Inventory

49. Accumulated depriciation

50. Retained Earnings