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. 7th step of Accounting Cycle

2. 2nd step of analyzing transactions

3. 10th step of Accounting Cycle

4. Economic Equity

5. Consistency

6. Accounts on Income Statement

7. 3rd step of analyzing transactions

8. Understandability

9. Materiality

10. Note Payable

11. Income Statement Revenues

12. 4th step of Accounting Cycle

13. Conservatism

14. Accts on balance sheet

15. Going Concern

16. Building

17. Balance Sheet Assets

18. Calculating Net Income

19. Cash Principle

20. Cost of Goods Sold

21. Accts on Statement of Retained Earnings

22. 1st Step of Analying Transactions

23. Accounting Equation

24. NonCurrent Assets

25. Customer deposits

26. Calculating Interest Formula

27. 3rd step of Accounting Cycle

28. Monetary Unit

29. Calculating Cost depreciation

30. Balance sheet Equity

31. Dividends

32. Dividends

33. NonCurrent Liabilities

34. Reliability

35. 1st step of Accounting Cycle

36. Relevance

37. 9th step of Accounting Cycle

38. Prepaid insurance

39. Current Assets

40. Common Stock

41. Balance Sheet Liabilities

42. 4th step of analyzing transactions

43. Current Ratio

44. 6th step of Accounting Cycle

45. Income Satement Expenses

46. Unearned revenue

47. Closing Entries

48. Multistep Income Statement

49. 5th step of Accounting Cycle

50. 2nd step of Accounting Cycle