Seçmeli Ara Sınav - Accountıng I

Soru 1:

Which of the following is an internal information user?

A) Employees B) Investors C) Creditors D) Government E) Customers

Soru 2:

What is the meaning of depreciation in accounting?

A) Value and usefulness of some assets will increase their value when the business uses them in its operations. B) Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes. C) Businesses depreciate short-term assets for both tax and accounting purposes. D) Businesses depreciate short-term liabilities for both tax and accounting purposes. E) Depreciation is the systematic allocation of the expected amount of an asset and liabilities over its residual life.

Soru 3:

If the company has a profit at the end of the period, To which of the following, the credit balance of the Income Summary account is transferred?

A) To the revenue account B) To the statement of owner’s equity C) To income summary account D) To expense accounts E) To the credit side of Capital account

Soru 4:

Which of the following account is used when the company promises to pay a debt in the future and when the transaction arises from a credit purchase?

A) Accounts Payable B) Accounts Receivable C) Unearned revenue D) Prepaid expenses E) Notes receivable

Soru 5:

Which of the following is the financial statement that reports the changes in the capital throughout the period caused by the owner’s capital investments or withdrawals, net profit or loss.

A) Balance sheet B) Income statement C) Statement of owner’s equity D) Cash flow statement E) Adjusted trial balance

Soru 6:

On January 1, 2018, the owner of company invests 10,000 TL into the business to establish the company ABC. The company also has liabilities of 5.000 TL. Which of the following is the amount of assets for this company?

A) 10.000 B) 15.000 C) 20.000 D) 25.000 E) 30.000

Soru 7:

Which of the following refers to the depreciable asset’s cost minus the asset’s accumulated depreciation?

A) Book value B) Residual value C) Useful life D) Depreciation expense E) Depreciable amount

Soru 8:

Which element is included in Typical Asset Accounts ?

A) Accrued Liabilities B) Notes Payable C) Owner, Withdrawals D) Unearned Revenue E) Accounts Receivable

Soru 9:

What is revenue?

A) Revenue use up assets or create liabilities in the course of operating a business. B) Revenue is the amounts taken out of the business by the owner appear in a separate account titled Withdrawals or Drawling. C) It is known an account which represents the net contribution of the owner in the business. D) Revenue is an accrued accounting that is a special form of liability for an expense you have not yet paid. E) The increase in owner’s equity created by delivering goods or services to customers is called revenue.

Soru 10:

Which of the following is defined as " a financial statement that shows the change in cash position of the company over an accounting period"?

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

Soru 11:

............... are necessary every time financial statements are prepared.

A) Deferrals B) Adjusting Entries C) Accruals D) Deferred (Unearned) Revenues E) Accrued Expenses

Soru 12:

Which of the followings is correct about deferred expenses?

A) Expenses is recorded at the same time with the revenues. B) Expense is recognized when cash is received. C) Expense is recognized when it is incurred. D) Expense is recognized after the cash is received. E) Expense is recognized after the cash is paid.

Soru 13:

Which of the followings is not correct?

A) Assets decrease on left side by debiting while increase on right side by crediting and normally show debit balance. B) Expenses increase on left side by debiting while decrease on right side by crediting and normally show debit balance. C) Liabilities increase on right side by crediting while decrease on left side by debiting and normally show credit balance. D) Contributions increase on right side by crediting while decrease on left side by debiting and normally show credit balance. E) Distributions increase on left side by debiting while decrease on right side by crediting and normally show debit balance.

Soru 14:

When the revenue accounts and expense accounts are closed and Which of the following their balances were transferred to first?

A) Capital account B) Income Summary account C) Revenue account D) Expense account E) Credit account

Soru 15:

Which of the following is not included in categories of adjusting entires?

A) Accrued expenses B) Deferred expenses C) Accrued revenues D) Deferred revenues E) Matched expenses

Soru 16:

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

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

Soru 17:

Which of the following is correct?

A) Assets decrease on left side by debiting while increasing on right side by crediting and normally show debit balance. B) Liabilities increase on right side by crediting while decrease on left side by debiting and normally show credit balance. C) Contributions decrease on right side by crediting while increasing on left side by debiting and normally show credit balance. D) Distributions decrease on left side by debiting while increasing on right side by crediting and normally show debit balance. E) Revenues decrease on right side by crediting while increasing on left side by debiting and normally show credit balance.

Soru 18:

What are the sources of financing a business?

A) Companies have two finance sources for their assets. They are liabilities and owner’s equity. B) The sources of financing a business isowner’s equity. C) The sources of financing a business isnon-current liabilities. D) The sources of financing a business isnon-current assets. E) The sources of financing a business isthe cash, and cash equivalents.

Soru 19:

Which is not a step of the journalizing and posting process?

A) Identify the accounts and the account types (asset, liability, or equity) B) Record the transaction in the journal C) Determine whether the accounting equation is in balance D) Decide numerical identifications of the accounts which are used later in posting E) Post the journal entry to the ledger

Soru 20:

......................................... is the procedure of transferring journal entries to the ledger accounts. Which of the following should be the dotted line?

A) Posting B) Ledger C) Analyzing D) Journal E) Journalizing