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. 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