Final Sınavı - Accountıng I - sinavahazirlan.com

Soru 1:

What is the name of asset items that a company holds for sale in the ordinary course of business, or items that will be used or consumed in the production of goods to be sold?

A) Inventories B) Current Assets C) Retail D) Raw Materials E) Finished Goods

Soru 2:

Which of the following measures the number of times a company sells average level of merchandise inventory during a period.

A) Days’ Sales in Inventory B) Inventory Turnover Ratio C) Current Ratio D) Liquid Ratio E) Cash Ratio

Soru 3:

Which of the followings is a valuation method which requires inventory to be reported in financial statements at whichever is lower – its historical cost or its market value.

A) Lower of Cost Method(LCM) B) Specific Identification Method C) Average Cost Method D) First-In, First-Out (FIFO) Method E) Last-In, First-Out (LIFO) Method

Soru 4:

Which of the following refers to the business of purchasing receivables from companies upon a fee for the services performed to manage and collect receivables?

A) Discounting of notes receivable B) Payee C) Trade receivables D) Factoring E) Promissory note

Soru 5:

If a company sells its goods and services on credit, how should this company record this transaction?

A) Accounts receivables is debited. B) Accounts receivables is credited. C) Cash account is debited. D) Cash account is credited. E) Sales revenue account is debited.

Soru 6:

How many types of frauds are there?

A) 6 B) 5 C) 4 D) 3 E) 2

Soru 7:

Which of the following statement is true for "Direct Write-off Method"?

A) Bad debts expense is not reflected actual losses from the uncollectible receivables B) The loss amount is not charged to the uncollectible account expense C) Companies use allowance account for the expenses based on estimates D) Companies could estimate bad debts losses in this method E) It is mainly used by relatively small and private companies

Soru 8:

I. Hospital II. Hotel III. Law firm Which of the companies above is/are a kind of service company?

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

Soru 9:

Which of the following about VISA credit card sales is incorrect?

A) The collection period is short B) The collection process doesn’t include the retailer C) The credit investigation of the customer is made by the credit card issuer D) Two parties are involved E) The time to collect accounts receivables takes longer than the time to collect proceedings from the customer’s credit card

Soru 10:

Which of the following is the definition of "perpetual inventory system"?

A) It is a method of approximating the flow of inventory costs in a business that is used to determine the amount of cost of goods sold B) It is a method of calculating the Cost of Ending Inventory and Cost of Goods Sold once at the end of an accounting period C) It is an inventory system of tracking and recording inventory and cost of goods sold on a continual basis D) It is an alternative way of calculating real time balances of Inventory Account and the Cost of Goods Sold Account. E) It is a system of determining the quantity of inventory on hand only periodically.

Soru 11:

Which of the following reports the cost of goods and materials on hand which will be used in production.

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

Soru 12:

In which method does the company know exactly which item was sold and exactly what the item cost?

A) Average Cost Method B) First-In, First-Out (FIFO) Method C) Specific Identification Method D) Last-In, First-Out (LIFO) Method E) Weighted average cost

Soru 13:

Which one of the following is not among the cash types?

A) Money order B) Check C) Coin D) Currency E) Bank account

Soru 14:

Which option can not be a type of protection against cybersecurity?

A) Secure logins B) Periodic software updates C) Anti-virus programs D) QR codes E) Limited access

Soru 15:

I- Pressure II- Opportunity III- Rationalization Which of the above are among the fraud triangle?

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

Soru 16:

Why are higher percentages assigned to the older receivables?

A) The lengthier a receivable is past due, the less are the chances for collectivity. B) The older they are, the more they can pay. C) The older they are, the more properties they have. D) The older they are, the less the expenses are. E) The older they are, the more responsible they are.

Soru 17:

I. Periodic inventory system II. Perpetual inventory system. III. Systematic inventory system. Which of the statements above is/are among the inventory systems of merchandising companies?

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

Soru 18:

Which of the following is a contra revenue account?

A) Sales Revenue B) Service Revenue C) Sales Allowances D) Cash E) Sales Discounts

Soru 19:

Which of the following is an income statement account that shows the losses incurred due to uncollectible receivables?

A) Sales returns and allowances B) Cash (net) realizable value C) Cash discounts D) Bad debt expense E) Aging of accounts receivable

Soru 20:

Which one of the following is the analysis of customer balances with respect to the length of time they have not been paid?

A) Aging of accounts receivable B) Percentage of receivable basis C) Direct write-off method D) Percentage of sales approach E) Percentage of sales basis