Seçmeli Ara Sınav - Accountıng I

Soru 1:

Which of the following is an example of non current assets?

A) Cash B) Account Receivables C) Equipment D) Salary Payable E) Capital

Soru 2:

Identify business activities Record the business transactions and Recording includes recording, classifying, and summarizing Communicates the results to decision makers Which of the information above can be said about accounting information system?

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

Soru 3:

Cash, buildings, furniture and merchandise inventory are the examples of .......... .

A) assets B) liabilities C) owner's equity D) distributions to owners E) revenues

Soru 4:

A ............... is a listing of the accounts and the account numbers which identify their location in the ledger.

A) Chart of accounts B) The Ledger C) The T-Account D) Debits and Credits E) Journal entries

Soru 5:

For the preparation of financial statements, which of the following is the starting point?

A) Closing entries B) post-closing trial balance C) Opening entries based on opening balance sheet D) the adjusted trial balance E) Posting daily transactions to accounts

Soru 6:

Which of the following is NOT an example of financial statement?

A) Dual effect B) Income statement C) Owner’s equity statement D) Balance sheet E) Statement of cash flows

Soru 7:

................ refers to the act of making an entry on the left side of an account and when debit amount exceeds credits,............. occurs.

A) Credits-debit balance B) Debiting-credit balance C) Debiting-debit balance D) Credits-credit balance E) Debiting-credits

Soru 8:

Which of the following is the first step of the accounting process?

A) Identifying financial transactions B) Recording financial transactions C) Connecting financial transactions D) Communicating financial transactions E) Summarizing financial transactions

Soru 9:

Which of the given is TRUE about monetary unit assumption?

A) It is an organization that stands apart as a separate economic unit. B) It assumes that the business entity will remain in operation forever. C) Financial transactions can only be recorded if the transaction data can be expressed in terms of money. D) The monetary unit assumption causes any decrease in the quality of financial information. E) It requires that the financial transactions of the entity should be recorded separately from the economic activities of its owner and all other economic entities.

Soru 10:

..................... reports each asset, liability and owner’s equity in five specific sections.

A) Adjusted trial balance B) Liquidity C) Balance sheet D) Income statement E) Classified Balance Sheet

Soru 11:

Which of the following dictates that revenue is recognized when it is earned not the cash is received?

A) Revenue recognition principle B) Time period concept C) Matching principle D) Social responsibility principle E) Prudence principle

Soru 12:

________ is the procedure of transferring journal entries to the ledger accounts. Which of the following completes the statement above?

A) The ledger B) Trial balance C) Journalising D) Posting E) Analyzing

Soru 13:

Which of the following is true for accounting equation?

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

Soru 14:

A company purchases a land for 200,000 TL. In initial accounting, the company records the land at 200,000 TL. The value of the land increases to 250,000 TL. If the company chooses to apply fair value principle, which of the following will be the reporting value of the land?

A) 200.000 B) 220.000 C) 225.000 D) 240.000 E) 250.000

Soru 15:

Which of the following is the systematic allocation of the depreciable amount of an asset over its useful life?

A) Depreciation B) Valuation C) Registration D) Measurement E) Elimination

Soru 16:

Which one of the following is the first step of the accounting cycle?

A) Posting opening entries to ledger accounts B) Opening entries based on opening balance sheet C) Analyzing and journalizing daily transactions D) Adjusting entries E) Posting daily transactions to accounts

Soru 17:

.......................... are withdrawals of cash or other assets by the owner for personal use.

A) Revenues B) Expenses C) Contributions by owner(s) D) Residual equity E) Distributions to owner(s)

Soru 18:

AR Company paid salaries of 3,100 TL. Make the journal entry.

A) Cash / Owner’s Drawings B) Equipment / Cash C) Salaries and Wages Expense / Cash D) Cash / Service Revenue E) Advertisement Expense / Accounts Payable

Soru 19:

There are four basic financial statements prepared by using summarized accounting data. Which is not one of these statements?

A) Income statement B) Owner’s equity statement C) Balance sheet D) Statement of cash flows E) Transaction statement

Soru 20:

What shows the owners’ investments, profit and loss of the period?

A) Current assets B) Non-current assets C) Current liabilities D) Non-current liabilities E) Owner's equity