Final Sınavı - Accountıng I - sinavahazirlan.com

Soru 1:

Which one of the following is not among the service companies?

A) Hotels B) Law firms C) Retailer companies D) Banks E) Hospitals

Soru 2:

The Revised Internal Control-Integrated Framework states 17 principles that explain the basic concepts related to each component in an effective internal control.Which of the following is a principle about control activities?

A) The organization demonstrates a commitment to integrity and ethical values. B) The organization demonstrates a commitment to attract, develop, and retain competent individuals in alignment with objectives. C) The organization considers the potential for fraud in assessing risks to the achievement of objectives. D) The organization selects and develops control activities that contribute to the mitigation of risks to the achievement of objectives to acceptable levels. E) The organization obtains or generates and uses relevant, quality information to support the functioning of internal control.

Soru 3:

What is the name of the system which relies upon physical count of the inventory to determine the ending inventory balance and cost of goods sold?

A) Perpetual Inventory System B) Inventory Cost Flow C) Specific Identification Method D) Average Cost Method E) Periodic Inventory System

Soru 4:

"The specific identification method uses the specific cost of each inventory unit..........." Which of the following appropriately completes the statement above?

A) to understand accounting and reporting inventories. B) to enable investors and creditors make wise decisions about the company. C) to determine the value of merchandise inventory on hand. D) to use a specific identification costing method. E) to determine ending inventory and cost of goods sold.

Soru 5:

................................ method an inventory costing method in which the first costs into inventory are the first costs out to cost of goods sold. Ending inventory is based on the costs of the most recent purchases. Which of the following choices fills the blank correctly?

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

Soru 6:

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

A) Error B) Mistake C) Misunderstanding D) Fraud E) Misleading

Soru 7:

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

A) Factor B) Factoring C) Maker D) Payee E) Trading

Soru 8:

An adequate system of internal controls is most likely to detect a fraud perpetrated by a ............

A) Single manager B) Two employee C) Group of managers in collusion D) Single employee E) Group of employees in collusion

Soru 9:

A system of internal control includes physical controls over access to and use of assets and records. A departure from the purpose of such procedures is that....

A) Access to the safe-deposit box requires two officers. B) Only storeroom personnel and line supervisors have access to the raw materials storeroom. C) Only salespersons and sales supervisors use sales department vehicles. D) The mailroom compiles a list of the checks received in the incoming mail. E) Order and sales department is connected to single personnel.

Soru 10:

There are three main accounting issues with respect to the accounting of receivables. Which of these is one of them?

A) Long term accounts receivable B) Valuation of accounts receivable C) Short term accounts receivable D) Non disposition of accounts receivable E) Non recognition of accpunts receivable

Soru 11:

What is the function of "return facility" in a marketing program?

A) Increasing company's account receivables B) Keeping the accounts of sold goods C) Ensuring bank credits D) Providing maximum profit from sales E) Enabling the company to maintain competitiveness.

Soru 12:

Which of the following is a process, affected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance?

A) Internal control B) Fraud C) Committee of Sponsoring Organization of the Treadway Commission (COSO) D) Cash flow E) Bank Reconciliation

Soru 13:

I. Anticipate gains, and provide for all probable losses. II. When there is a question, record an expense rather than an asset. III.When you are faced with a decision, you must choose the option that undervalues, rather than overvalues, your business. Which one/ones above is/are correct about the ideas that conservatism follows?

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

Soru 14:

Businesses can keep their important amount of cash in a bank instead of keeping on hand. It is a way of protecting cash from possible thefts. It requires approval from both the business and the bank Which of the statements above is true for using bank accounts as a control device?

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

Soru 15:

_____ exists when sellers allow purchasers to return merchandise that is defective, damaged, or under-performing. Which of the following best complete the statement above?

A) Accounts payable B) Purchase allowance C) Purchase return D) Purchase discount E) Payment of liability

Soru 16:

Which of the following is true for "cash discount"?

A) Cash discounts are not reflected in the books of accounting. B) Cash discounts are not recorded. C) Cash discounts are not affected by the date of payment. D) Cash discounts are intended to encourage the customer to make their payment earlier E) Cash discounts reduce the final sales price

Soru 17:

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

A) Factoring B) Average collection period C) Credit D) Credit card E) Debit card

Soru 18:

Which component of internal control is applied to identify and assess risks to the achievement of objectives?

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

Soru 19:

Which of the following statements is not true regarding “Periodic Inventory System”?

A) Periodic inventory system is used by the companies with inexpensive inventories. B) Periodic inventory system is used by the companies with manual accounting systems. C) This system is preferred less day-by-day. D) In periodic inventory system, companies use “Purchase” account to record their purchases of inventories. E) In this system, companies continuously update the inventory account whenever a transaction occurs.

Soru 20:

Periodic inventory system is used by the companies with inexpensive inventories Perpetual inventory system is used by the companies manual accounting systems. Perpetual inventory system provides high level of control over inventories. Which of the statements above is true for inventory systems?

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