Test your basic knowledge |

Business Accounting Basics

Subject : business-skills
  • 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