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. Conservatism






2. Balance Sheet Assets






3. Calculating Cost depreciation






4. Dividends






5. Cash Principle






6. 7th step of Accounting Cycle






7. 3rd step of analyzing transactions






8. Calculating Interest Formula






9. Goodwill






10. Closing Entries






11. Customer deposits






12. Note Payable






13. Common Stock






14. 2nd step of analyzing transactions






15. Profit Margin %






16. 5th step of Accounting Cycle






17. Income Satement Expenses






18. Inventory






19. Calculating Net Income






20. Balance sheet Equity






21. Interest Expense






22. Building






23. Accounting Equation






24. Accts on Statement of Retained Earnings






25. 3rd step of Accounting Cycle






26. NonCurrent Liabilities






27. Prepaid insurance






28. 2nd step of Accounting Cycle






29. Dividends






30. 1st step of Accounting Cycle






31. 4th step of Accounting Cycle






32. Accounts Recievable






33. Materiality


34. Retained Earnings






35. Current Assets






36. Understandability






37. Interest Revenue






38. Income Statement Revenues






39. 8th step of Accounting Cycle






40. Economic Equity






41. Accounts on Income Statement






42. Going Concern






43. Sales revenue






44. NonCurrent Assets






45. 1st Step of Analying Transactions






46. Intangibles






47. Balance Sheet Liabilities






48. Multistep Income Statement






49. 9th step of Accounting Cycle






50. 10th step of Accounting Cycle