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. Common Stock






2. Prepaid insurance






3. Balance sheet Equity






4. Goodwill






5. Accumlated depreciation






6. Accounts on Income Statement






7. Income Satement Expenses






8. Materiality






9. 9th step of Accounting Cycle






10. Calculating Interest Formula






11. Income Statement Revenues






12. 7th step of Accounting Cycle






13. Sales revenue






14. Accts on Statement of Retained Earnings






15. Relevance






16. Balance Sheet Assets






17. Cash Principle






18. Understandability






19. 2nd step of Accounting Cycle






20. Current Ratio






21. 4th step of analyzing transactions






22. Retained Earnings






23. Balance Sheet Liabilities






24. Closing Entries






25. Accumulated depriciation






26. Accounting Equation






27. Dividends






28. Customer deposits






29. Interest Expense






30. Economic Equity






31. Profit Margin %






32. 3rd step of Accounting Cycle






33. Accts on balance sheet






34. Current Assets






35. Accounts Recievable






36. 6th step of Accounting Cycle






37. Unearned revenue






38. Reliability






39. Utilities expense






40. NonCurrent Liabilities






41. Intangibles






42. Multistep Income Statement






43. Dividends






44. 4th step of Accounting Cycle






45. Consistency






46. Going Concern






47. 3rd step of analyzing transactions






48. 1st Step of Analying Transactions






49. Cost of Goods Sold






50. Calculating Net Income