Final Sınavı - Accountıng I - sinavahazirlan.com

Soru 1:

I- Operations objectives II- Reporting objectives III- Compliance objectives Which of the above are among internal control objects?

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

Soru 2:

Which of the following is a document that shows the expected amount of cash receipt and payments for a period in the future?

A) Cash flow B) Cash budget C) Fraud D) Bank Reconciliation E) Bank statement

Soru 3:

In which of the following requires that companies record revenues when they receive the cash and they record expenses when the cash is paid?

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

Soru 4:

If sales revenue is 4.000 TL, Sales returns and allowances are 450 TL and sales discounts are 600 TL, which one should be the net sales revenue?

A) 4.450 TL B) 2.950 TL C) 4.600 TL D) 5.050 TL E) 4.000 TL

Soru 5:

Which of the following shows the calculation for inventory turnover ratio?

A) Cost of Goods Sold divided by Average Merchandise Inventory B) Cost of Goods Bought divided by Average Merchandise Inventory C) Cost of Goods Sold divided by Days' Sales Inventory D) Cost of Goods Sold multiplied by Average Merchandise Inventory E) Cost of Goods Sold added to Average Merchandise Inventory

Soru 6:

Which of the following is one of the components which is based on the effects of the stress factor on the management and other employees?

A) Pressure B) Opportunity C) Rationalization D) Information Technology E) Documentation

Soru 7:

Which of the followings is the amount owed to a company by customers as a result of delivering goods or services?

A) Accounts receivable B) Cash (net) realizable value C) Bad debt expense D) Percent-of-Sales E) Payee

Soru 8:

Which of the following will be the starting point for the preparation of financial statements?

A) Adjusted Trial Balance B) Income Statement C) General Ledger D) Assets Amount E) Closing entries

Soru 9:

I.Customers have to pay the price to the credit card company at the time of shopping. II.The businesses are not getting 100% of the face value of their sale III.Credit card companies are providing these benefits for free. Which one/ones is not /are not correct about credit card sales?

A) Only I B) I-II C) I-III D) II-III E) I-II-III

Soru 10:

Which of the following is a process to identify and determine risks to the achievement of objectives?

A) Control Activities B) Monitoring Activities C) Risk Assessment D) Information and Communication E) Control Environment

Soru 11:

If internal control is well designed, two tasks that should be performed by different persons are

A) Approval of bad debt write-offs, and reconciliation of the accounts payable subsidiary ledger and controlling account. B) Posting of amounts from both the cash receipts journal and cash payments journal to the general ledger. C) Access to the safe-deposit box requires two officers. D) Recording of cash receipts and preparation of bank reconciliations. E) Distribution of payroll checks and approval of sales returns for credit.

Soru 12:

Which of the following is the correct definition of the accounting cycle?

A) The process by which companies produce their financial statements for a specific period of time B) The process by which companies produce their financial statements for the beginning of the period activities C) The process by which companies produce their financial statements for during the period activities D) The process by which companies produce their financial statements for the end of the period activities E) The process by which companies produce their financial statements after closing of revenue accounts

Soru 13:

Which of the following is true for the "consistency principle" of accounting?

A) It is that businesses should report the least favorable figures in the financial statements when two or more possible options are presented B) It requires strictly proper accounting only for items that are significant to the business’s financial situation according to the materiality concept requirements. C) It is that enough information for outsiders to make knowledgeable decisions about the company is not compulsory D) It rests on a conceptual framework that identifies the objectives, characteristics, elements, and implementation of financial statements E) It holds that companies should use the same accounting methods and procedures in each accounting period

Soru 14:

In which inventory cost flow method, ending inventory is based on the costs of the most recent purchases.

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

Soru 15:

A fund that contains small cash amounts to use for small expenditures is called as _________

A) A petty cash fund B) Cash ratio fund C) management fund D) Accountant fund E) Cash fund

Soru 16:

Which of the followings is not true about the periodic inventory system?

A) It records the inventory and costs of goods sold on a continual basis. B) It relies upon physical count of the inventory. C) It aims to determine the ending inventory balance and cost of goods sold. D) Counting is done is at specific intervals. E) It is normally used for relatively inexpensive goods.

Soru 17:

Which of the following shows the calculation of cash ratio?

A) Cash Ratio = (Cash + Cash Equivalents) / Total Current Liabilities B) Cash Ratio = (Cash - Cash Equivalents) / Total Current Liabilities C) Cash Ratio = (Cash + Cash Equivalents) x Total Current Liabilities D) Cash Ratio = (Cash + Cash Equivalents) + Total Current Liabilities E) Cash Ratio = (Cash x Cash Equivalents) / Total Current Liabilities

Soru 18:

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

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

Soru 19:

On which year ACFE developed a "Fraud Tree"?

A) 1996 B) 1998 C) 2000 D) 2002 E) 2004

Soru 20:

A sales person who may have some premium from total sales should not approve or journalize the sales transactions. Which of the following term express this situation?

A) Seperation of duties B) Hiring competent, reliable, and ethical personnel C) Monitoring and audits D) Assignment of responsibilities E) Documentation