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. Current Assets






2. Monetary Unit






3. Closing Entries






4. Balance sheet Equity






5. 10th step of Accounting Cycle






6. Economic Equity






7. Income Statement Revenues






8. Unearned revenue






9. Inventory






10. Calculating Net Income






11. Accounting Equation






12. Conservatism






13. Cost of Goods Sold






14. Consistency






15. Intangibles






16. Common Stock






17. Accumulated depriciation






18. Accounts on Income Statement






19. Materiality






20. 6th step of Accounting Cycle






21. Current Ratio






22. Accts on Statement of Retained Earnings






23. Income Satement Expenses






24. Utilities expense






25. 7th step of Accounting Cycle






26. 1st step of Accounting Cycle






27. 9th step of Accounting Cycle






28. Relevance






29. Retained Earnings






30. Going Concern






31. Customer deposits






32. Multistep Income Statement






33. Calculating Cost depreciation






34. Calculating Interest Formula






35. Profit Margin %






36. Dividends






37. Note Payable






38. Understandability






39. Accumlated depreciation






40. 4th step of Accounting Cycle






41. Goodwill






42. Dividends






43. Prepaid insurance






44. 1st Step of Analying Transactions






45. Building






46. NonCurrent Assets






47. Accts on balance sheet






48. Sales revenue






49. Interest Expense






50. Balance Sheet Assets