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. Relevance






2. 3rd step of Accounting Cycle






3. Calculating Cost depreciation






4. Consistency






5. Reliability






6. 3rd step of analyzing transactions






7. NonCurrent Assets






8. 1st step of Accounting Cycle






9. Calculating Interest Formula






10. Prepaid insurance






11. Accounts on Income Statement






12. Dividends






13. 5th step of Accounting Cycle






14. Accts on Statement of Retained Earnings






15. Goodwill






16. 10th step of Accounting Cycle






17. Accumulated depriciation






18. Interest Revenue






19. Balance sheet Equity






20. Cash Principle






21. Inventory






22. 9th step of Accounting Cycle






23. Going Concern






24. Dividends






25. 4th step of Accounting Cycle






26. Calculating Net Income






27. 4th step of analyzing transactions






28. Economic Equity






29. Balance Sheet Assets






30. 8th step of Accounting Cycle






31. Accts on balance sheet






32. Sales revenue






33. Balance Sheet Liabilities






34. Cost of Goods Sold






35. Closing Entries






36. Intangibles






37. Utilities expense






38. 7th step of Accounting Cycle






39. Interest Expense






40. Conservatism






41. Monetary Unit






42. Income Satement Expenses






43. Retained Earnings






44. Unearned revenue






45. 1st Step of Analying Transactions






46. Profit Margin %






47. Multistep Income Statement






48. Accounting Equation






49. Current Assets






50. Understandability