Final Sınavı - Accountıng I - sinavahazirlan.com

Soru 1:

I. Perpetual Inventory System II. Pre-Sale Inventory System III. Periodic Inventory System Which of the above is/are takes place in inventory accounting systems?

A) Yalnız I B) Yalnız II C) I ve III D) II ve III E) I, II ve III

Soru 2:

According to which method, does ending inventory come from the oldest costs (beginning inventory and earliest purchases) of the period?

A) Inventory Cost Flow Method B) Specific Identification Method C) Average Cost Method D) FIFO E) LIFO

Soru 3:

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

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

Soru 4:

................................. is a system of determining the quantity of inventory on hand only periodically. Which of the following should come to the space according to the sentence?

A) Materiality Concept system B) Conservatism concept system C) Perpetual Inventory System D) Specific Identification system E) Periodic Inventory System

Soru 5:

The ..................... principle 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. Which of the following terms fills the blank correctly?

A) Consistency B) Disclosure C) Materiality D) Conservatism E) Economic Entity

Soru 6:

If the Accounts Receivable Turnover is 8.81 what is the Days to Collect Accounts Receivable?

A) 365 days B) 31.5 days C) 41.4 days D) 121 days E) 15.6 days

Soru 7:

The primary responsibility for establishing and maintaining internal control rests with

A) The external auditor B) The controller C) Salesman D) The treasurer E) Management

Soru 8:

Which of the following is calculated as net credit sales divided by net accounts receivable?

A) Accounts Receivable Turnover B) Days to Collect Accounts Receivable C) Total Assets Turnover D) Working Capital Turnover E) Inventory Turnover

Soru 9:

Which of the following statements is true?

A) The Sales account is used to record only sales on account. B) A service company purchases products from suppliers and then sells them. C) Gross profit = Net sales revenue+Cost of goods sold D) Net sales revenue = Sales Revenue – (Sales Returns and Allowances + Sales Discounts) E) The invoice is the purchaser’s request for collection from the customer.

Soru 10:

How can you find Inventory Turnover Ratio?

A) By adding Cost of Goods Sold and Average Merchandise Inventory B) By multiplying Cost of Goods Sold and Average Merchandise Inventory C) By dividing Cost of Goods Sold by Average Merchandise Inventory D) By adding Beginning Merchandise Inventory and Ending Merchandise Inventory, and dividing them by two E) By adding Beginning Merchandise Inventory and Ending Merchandise Inventory

Soru 11:

Which of the following describes the formula to calculate the cost of goods (COGS) sold during the period?

A) COGS = Beginning Inventory + Expenses – Ending Inventory B) COGS = Beginning Inventory + Purchases – Ending Inventory C) COGS = Beginning Inventory + Purchases + Ending Inventory D) COGS = Beginning Inventory + Ending Inventory - Purchases E) COGS = Beginning Inventory + Ending Inventory - Expenses

Soru 12:

What reports the cost of goods, materials and other components of manufacturing process used for the inventory produced and available for sale?

A) Accounting Principles B) Inventory Accounting Systems C) Raw Materials Inventory D) Finished Goods Inventory E) Work in Process Inventory

Soru 13:

Which one of the following is the reduction in the catalogue price or listed price of the goods?

A) Cash discounts B) Sales returns C) Sales allowances D) Accounts receivable E) Trade discounts

Soru 14:

Which of the following accounts is not closed?

A) Interest Revenue B) Accumulated Depreciation C) Depreciation Expense D) Dividends E) Prepaid expense

Soru 15:

Which of the following contains small cash amounts to use for small expenditures?

A) Payee B) Voucher C) Cash budget D) Petty cash fund E) Cash flow

Soru 16:

Which one of the following defines "managerial task and responsibility to ensure that all of the activities of a company are under the management control".

A) Cash B) Factoring C) Internal control D) Income statement E) Bank account

Soru 17:

Traditionally, the two effects of an accounting entry are known as . Accounting system is based on the principal that for every Debit entry, there will always be an equal Credit entry. This is known as the Duality Principal. According to the Double Entry system, which of the following is true?

A) Increase in assetsIncrease in expenseIncrease in liabilityDecrease in equityDecrease in income B) Increase in assetsIncrease in expenseDecrease in liabilityIncrease in equityDecrease in income C) Increase in assetsIncrease in expenseDecrease in liabilityDecrease in equityIncrease in income D) Increase in assetsIncrease in expenseDecrease in liabilityDecrease in equityDecrease in income E) Decrease in assetsIncrease in expenseDecrease in liabilityDecrease in equityDecrease in income

Soru 18:

On which of the following issues internal control does not provide reasonable assurance?

A) Assets are safeguarded B) Assets are used for business purposes C) Business information is accurate D) Employees comply with laws and regulations E) External auditors comply with regulations.

Soru 19:

Suppose that Nehir Company sold 150 units of baby car seats to a customer for cash On May 28. Sales price of a baby car seat is 1.000 TL. Which of the following is true for the recording of this transaction?

A) Accounts Payable is debited by 1.000 TL B) Sales revenue account is credited by 1000 TL C) Cash account is debited by 150.000 TL D) Cost of Goods sold is debited by 1.000 TL E) Banks is credited by 150.000 TL

Soru 20:

Which if the following is true for "Inventory Turnover Ratio"?

A) It is the other key ratio used by the management of a company to measureaverage number of days that merchandise inventory is held by the company B) It measures the number of times a company sells average level of merchandise inventory during a period. C) It measures the number days that inventory is held by a company. D) It is a method used in the calculation of the market value of work-inprocess inventory in manufacturing companies. E) It is a method used in the calculation of the amount of work force required for production