Seçmeli Ara Sınav - Accountıng I

Soru 1:

Which of the followings refers to the decline in usefulness of a plant asset?

A) Useful life B) Residual Value C) Depreciation Expense D) Accrued Expense E) Deferred Expense

Soru 2:

Which of the following is NOT one of the features of corporations?

A) A corporation is a large company or group of companies authorized to act as a single entity. B) Shareholders can sell part or all of their stocks to other investors at any time. C) The business with corporate structure is fully separate and distinct from its owners. D) Owners of corporation are not personally liable for the debts of the entity. E) Usually a small amount of capital is needed and the owner is entitled to all profits.

Soru 3:

You see the closing entry of Company A. If the service revenue is 9,500,49, which of the following figures should go in the Income Statement Debit Column?

A) 9,500,49 B) 1,538 C) 2,000 D) 7,538,25 E) 3,930

Soru 4:

Which of the following refers to the advance payments of future expenses?

A) Accrued revenues B) Accrued expenses C) Deferred revenues D) Depreciation E) Deferred expenses

Soru 5:

Which of the following is an example for asset accounts?

A) Accounts receivable B) Acounts payable C) Notes payable D) Unearned revenue E) Accrued liabilities

Soru 6:

Which of the following refers to the act of making an entry on the left side of an account?

A) Debiting B) Crediting C) T-Account D) Double entry accounting E) The ledger

Soru 7:

Which of the following expresses the accounting equation?

A) Assets = Owner’s Equity B) Assets = Liabilities C) Assets + Buildings = Liabilities D) Assets = Liabilities + Owner’s Equity E) Assets = Liabilities + Owner’s Equity + Profit

Soru 8:

Which of the following assumes that unlimited economic life of a company will be divided into regular intervals and that financial statements will be prepared for specific periods such as a month, quarter, or year?

A) Time period concept B) Lİquidity C) Accrual basis accounting D) Cash basis accounting E) The revenue recognition principle

Soru 9:

After closing of revenue accounts,expense accounts and Income Summary account, whihc of the following is to be prepared?

A) Financial statements B) Accounting entries C) Posting daily transactions to accounts D) Post-closing trial balance E) Closing entries

Soru 10:

According to which principle of the following, the expense is recognized before the cash is paid?

A) Accrued expense B) Deferred expense C) Accrued revenue D) Deferred revenue E) Time-period concept

Soru 11:

Which of the following is a listing of the accounts and the account numbers which identify their location in the ledger?

A) Chart of accounts B) Trial balance C) Ledger D) The T-Account E) Accounting equation

Soru 12:

What items appear on the income statement?

A) The income statementshows us sales revenue, cost of goods sold,total or specific general expenses , depreciation expense,ınterest expense,tax expense. B) The income statementshows us only sales of company. C) The income statementshows us only taxes expense of company. D) The income statementreports each asset, liability and owner’s equity in specific sections. E) The income statementis the measure of how quickly and easily an account can be converted into cash.

Soru 13:

Which of the following has an indefinite useful life?

A) Plant B) Office equipments C) Cars D) Land E) Factories

Soru 14:

................ are a set of principles companies follow when they prepare and publish their financial statements, providing a consistent way of describing the company’s financial performance. Which of the following is identified above?

A) Ethics B) Accounting Standards C) Measurement Principles D) Faithful representation E) Basic assumptions

Soru 15:

Which one is not correct according to rules of accounting?

A) Assets increase on left side by debiting while decrease on right side bycrediting and normally show debit balance B) Liabilities increase on right side by crediting while decrease on left sideby debiting and normally show credit balance C) Contributions increase on right side by creditingwhile decrease on left side by debiting and normally show credit balance. D) Distributions increase on left side by debiting while decrease on right side by crediting and normally show debit balance E) It shoul be increase on left side because ,Revenues increase on left side by crediting while decrease on left side bydebiting and normally show credit balance

Soru 16:

Which account includes the amounts the company must pay because the company signed a written promise to pay a debt amount in the future?

A) Notes Receivable B) Prepaid Expenses C) Accounts Payable D) Accrued Liabilities E) Notes Payable

Soru 17:

A company pays the rent in cash on the 15th of each month but records it at the beginning of the same month. Which of the following explains the situation for this company?

A) matching principle B) deferred expense C) prepaid expense D) deferred revenue E) accrued expense

Soru 18:

Which of the following is a list of all the accounts with their adjusted balances?

A) Balance sheet B) Adjusted trial balance C) Income statement D) Cash flow statement E) General ledger

Soru 19:

Which of the following refers to any 12-month accounting period?

A) interim period B) quaterly period C) semiannual period D) fiscal year E) monthly period

Soru 20:

Which of the following is an internal user of accounting information?

A) Investors B) Creditors C) Managers D) Customers E) Suppliers