Final Sınavı - Accountıng I - sinavahazirlan.com

Soru 1:

I The requirements of regulatory bodies II The purpose of the company III Paying less tax Which of the facstor(s) above can affect a company's choices about which cost flow method to use?

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

Soru 2:

Why is it more profitable to use 360 days while calculating the interest rate?

A) You can find annual rate of interest easier. B) You can find more equal interest rate. C) The note holder can receive more interest. D) Principal can be followed more accurately. E) The calculation time can be lessen.

Soru 3:

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

A) Accounts receivable B) Cash discounts C) Trade discounts D) Bad debts expense E) Cash (net) realizable value

Soru 4:

Which of the following published Internal Control-Integrated Framework?

A) IASB B) IFAC C) COSO D) IIA E) KGK

Soru 5:

ABC Co. on June 1st, 2018, sells goods on account to XYZ Co. worth 2,000 TL, at terms 2/10, n/30. On June 5th, goods at a value of 200 TL are returned to ABC Co. On June 11th, XYZ Co. pays its due balance.What is the amount of cash received?

A) 2000 B) 1,764 C) 1,864 D) 1,800 E) 1,724

Soru 6:

According to which inventory cost flow method, is the cost of goods sold is based on the most recent purchases?

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

Soru 7:

Which of the following internal control component defines a set of standards, processes, and structures that provide a basis to carry control consciousness across the businesses?

A) Control environment B) Risk assessment C) Control activities D) Information and communication E) Monitoring activities

Soru 8:

Which of the following is an intentional misrepresentation of facts which is made made for purpose of persuading another party to act in a way that causes injury or damage to that party?

A) Separation of Dutie B) Assignment of Responsibilities C) Documentation D) Fraud E) Internal Control

Soru 9:

Which of the followings allocates the cost of goods available for sale on the basis of the weighted average unit cost incurred?

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

Soru 10:

___________ can be defined as a plan and a system of control procedures designed and implemented by the management and the board of directors.

A) Management B) Internal control C) Operations objectives D) External Control E) Cash ratio

Soru 11:

Which principle means being careful in reporting items in the financial statements?

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

Soru 12:

Which component of internal control is intended to ensure that the actions taken for the achievement of the objectives are performed effectively?

A) Control environment B) Risk assessment C) Information and communication D) Control activities E) Monitoring activities

Soru 13:

Which of the following holds that a company should report enough information for financial statement users to understand methods and procedures used for each component of the financial statements to make wise decisions about the company by providing additional information.

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

Soru 14:

........................ is an inventory system of tracking and recording inventory and cost of goods sold on a continual basis. Which of the following should come to the space according to the sentence?

A) Perpetual Inventory System B) Conservatism concept system C) Periodic Inventory System D) Specific Identification System E) Average Cost system

Soru 15:

Which of the following shows the profit and loss of the period in balance sheet?

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

Soru 16:

Which of the following definitions is true regarding the three basic activities of accounting?

A) Identifying includes selecting financial transactions. B) Recording includes selecting financial transactions. C) Recording includes preparing financial reports. D) Communicatinginc ludes recording, classifying, and summarizing. E) Indentifyinh includes preparing financial reports.

Soru 17:

Which one of the following is not among the advantages of online banking?

A) Mobile banking B) View your transactions C) Cheaper system D) Transfer money between accounts E) Syncing with your money applications

Soru 18:

Accounting periods may be ................ .

A) monthly B) yearly C) quarterly D) semiannually E) daily

Soru 19:

Which of the following statements is not correct?

A) A merchandising company first purchases merchandise inventory to sell to its customers. B) Merchandise on hand (not sold) is called merchandise inventory asset. C) When merchandise inventory asset is sold, the revenue is reported as salesrevenue. D) The cost of merchandise sold is subtracted from sales to arrive at net profit. E) When the companies purchase merchandise inventory to resell, it is an expenditure.

Soru 20:

What happens if the merchandise inventory is sold?

A) Gross profit is calculated. Gross profit evaluates the company’s profitability in terms of selling activities. B) Multiple-step income statement is preferred. C) Cost is taken from inventory account in balance sheet and recognized as an expense (cost of goods sold) in the income statement. D) Companies use “Purchase” account to record their purchases of inventories. E) Freight cost is not included in the cost of goods.