Final Sınavı - Accountıng I - sinavahazirlan.com

Soru 1:

Which of the following is true for "bad debt expenses"?

A) Bad debt expense is treated under the allowance method or the direct write-off method. B) Bad debt expense is an income statement account that shows the lossesincurred due to uncollectible receivables. C) Bad dept expenses are not overstated on the balance sheet D) Bad debt expense is not a good indicator of a company’s credit policy. E) Bad dept expenses are not considered in account management of companies

Soru 2:

I. Sales II. Cost of goods sold III. Operating expenses Which of the items is/are recorded in the income statement?

A) Only I B) I and II C) II and III D) I and III E) I, II and III

Soru 3:

I. Service companies II. Manufacturing companies III. Merchandising companies Based on their operations, companies are classified into three categories, so which of the classification items above is/are among this classification?

A) Only I B) I and II C) II and III D) I and III E) I, II and III

Soru 4:

Which of the followings is a written agreement or a commitment to pay a particular amount of promised money at a particular period of time?

A) Payee B) Maker C) Promissory note D) Dishonored Note E) Factor

Soru 5:

In which year is Internal Control-Integrated Framework revised and republished?

A) 2010 B) 2011 C) 2012 D) 2013 E) 2014

Soru 6:

A business’s financial statements must report enough information for outsiders to make knowledgeable decisions about the company because of the......................................................rules. Which should come to the dotted place according to the continuation of the sentence?

A) Consistency Principle B) Disclosure Principle C) Materiality Concept Principle D) Conservatism concept Principle E) Perpetual Inventory Principle

Soru 7:

Which of the followings is an inventory costing method based on the specific cost of particular units of inventory?

A) Perpetual Inventory System B) Specific Identification Method C) Average Cost Method D) First-In, First-Out (FIFO) Method E) Last-In, First-Out (LIFO) Method

Soru 8:

Which of the following shows the credit sales price adjusted for returns, discounts, and allowances expected to be collected from customers?

A) Current value B) Book value C) Market value D) Fair value E) Cash realizable value

Soru 9:

When this merchandise inventory is sold, the revenue is reported as sales revenue, and its cost is recognized as an expense. Which of the following term defines this expense?

A) Cost of merchandise sold B) Merchandise Inventory Asset C) Ending Inventory D) Inventory Available for Sale E) Beginning Inventory

Soru 10:

When a company sells its goods or services on cash basis, how does the company record this transaction?

A) Account receivables account is debited; sales revenue account is credited. B) Account receivables account is credited; sales revenue account is debited. C) Cash account is credited; the sales revenue account is debited. D) Cash account is debited; the sales revenue account is credited. E) Account receivables account is debited; the sales revenue account is credited.

Soru 11:

Which of the followings states that businesses should use the same accounting methods and procedures from period to period?

A) Disclosure Principle B) Consistency Principle C) Materiality Concept D) Conservatism E) Perpetual Inventory System

Soru 12:

It should be verified. It should be approved. It should be recorded. To achieve effective control on cash payment which of the actions above should be taken?

A) Only I B) Only II C) I and II D) II and III E) I, II and III

Soru 13:

Which one of the following buys merchandise inventory from producer and sells it to costumers?

A) Retailer company B) Whole seller company C) Manufacturing company D) Service company E) Finished goods company

Soru 14:

Which of the following reports the cost of goods, materials and other components of manufacturing process used for the inventory which are still in production process, in other words unfinished at the time financial statements are prepared.

A) Raw materials inventory B) Work in process inventory C) Finished goods inventory D) Service inventory E) Operational inventoy

Soru 15:

Which of the following shows the calculation for average collection period?

A) 365 days divided by receivable turnover ratio B) 365 days multiplied by receivable turnover ratio C) Net credit sales divided by net accounts receivable D) Net credit sales multiplied by 365 days E) Receivable turnover ratio divided by net accounts receivable

Soru 16:

Which of the following states that a company must perform strictly proper accounting only for significant items.

A) Disclosure Principle B) Consistency Principle C) Materiality Concept D) Conservatism Concept E) Current Value Principle

Soru 17:

Which one of the following is not a service company?

A) Barber shop B) Hospital C) Hotel D) Cargo company E) Grocery market

Soru 18:

In which option the three components of "Fraud Triangle" are given correctly?

A) pressure,flexibility,risks B) flexibility, risks, opportunity C) pressure, risks, rationalization D) flexibility, risks, rationalization E) pressure, opportunity,rationalization

Soru 19:

I. Accounts receivables II. Notes receivables III. Other receivables Which of the above is/are takes place in the main categories of receivables?

A) Only I B) Only II C) I and III D) II and III E) I, II and III

Soru 20:

Why the basic form of account generally is called as T-account?

A) Because the shape of the account resembles the letter T B) Because the last letter of account is T C) Because the T-account is a good place to begin the study of the double-entry system D) Because the Title of Account is at the top E) Because the shape of T letter has a basic form