Final Sınavı - Accountıng I - sinavahazirlan.com

Soru 1:

Which of the followings is the writer of a note, promises to pay?

A) Payee B) Maker C) Promissory note D) Dishonored Note E) Factor

Soru 2:

"In order to find out the reporting value for inventories on hand, we have to compare cost with .........." Which of the following is the right word for the blank in the statement above?

A) product cost B) replacement cost C) realizable valur D) input cost E) market value

Soru 3:

Which of the following best describes assets?

A) Economic resources that are expected to benefit the business in the future. B) Something owned by a business that has a ready market value. C) An economic resource representing cash or the right to receive cash in the future. D) Something with physical form that’s valued at cost in the accounting records. E) The owner’s claims to the assets of the business.

Soru 4:

What does accounting time period that is one year in length is called?

A) Yearly calendar B) Fiscal year C) Calendar year D) Time period E) Accounting year

Soru 5:

Which one of the following express account and notes receivables from sales transactions?

A) Current receivables B) Non-current receivables C) Trade receivables D) Notes receivables E) Account receivables

Soru 6:

Generally, receivables are classified into three main categories. Which of these is one of them?

A) Accounts receivables B) Arise receivable C) Long term receivable D) Short term receivable E) Balance receivable

Soru 7:

A business should report the least favorable figures in the financial statements when two or more possible options are presented according to ....................................... requirements. Which of the following should come to the space according to the sentence?

A) Periodic Inventory concept B) Consistency concept C) Disclosure concept D) Materiality concept E) Conservatism concept

Soru 8:

Which of the following is not one of the five components of internal control of COSO Framework?

A) Control environment B) Fraud activities C) Risk assessment D) Control activities E) Monitoring activities

Soru 9:

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

A) Factoring B) Arising C) Marketing D) Collecting E) Factor

Soru 10:

The income statement is prepared using the …... and ……. accounts from the trial balance.

A) Revenue / Assets B) Owner’s Equity / Liabilities C) Debits / Credits D) Receivable / Payable E) Revenue / Expense

Soru 11:

can be applied to all types of business. provide flexibility to the internal control process. can help to eliminate ineffective, redundant controls. Which of the statements above are true for COSO framework?

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

Soru 12:

Which of the following is not the information which is recorded by "Perpetual Inventory System"?

A) Units purchased and cost amounts B) Units purchased and cost amounts C) The quantity of predicted merchandise inventory D) Cost per unit E) Predicted sales figures

Soru 13:

"Companies should use the same accounting methods and procedures in each accounting period ......." Which of the following appropriately completes the statement above?

A) as businesses prefer to use the same accounting methods and procedures from period to period B) so that companies are able to purchase their inventories at a higher cost in the second year C) because companies making investment analyze the invested companies’ netincome over a two-year period D) so that the information provided will help investors and creditors to compare a company’s financial statements from one period to the next E) as any increase in income results in huge decrease in the gross profit and operating income.

Soru 14:

.....................begins with the purchase of merchandise inventory and ends when the cash from sales is collected from customers. Which of the following should be brought to the space left above?

A) Merchandising Companies B) Operating cycle C) Inventory Systems D) Merchandise Inventory E) Freight–in

Soru 15:

Which of the followings assumes that the earliest goods purchased are the first to be sold?

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

Soru 16:

Which of the following is used to measure the liquidity of accounts receivable?

A) Aging of accounts receivable B) Percentage of receivable basis C) Accounts receivable turnover ratio D) Percentage of sales basis E) Direct write-off method

Soru 17:

...................... assumes that unlimited economic life of a company. Which of the following should be brought to the space left above?

A) The Revenue Recognition Principle B) Matching Principle C) Expense recognition principle D) Time Period Concept E) Monetary Unit Assumption

Soru 18:

Which of the followings happens when the cost of replacing items in inventory is below the recorded cost and the inventory is not salable at normal sales prices?

A) Inventory is valued at market value other than cost. B) Inventories which are most recently purchased are sold first. C) Inventories which are purchased first are sold first. D) Weighted average cost per unit is determined by dividing the cost of goods available for sale by the number of units available. E) The business maintains detailed records of inventory sales and purchases as well as carefully identifying the inventory sold.

Soru 19:

The beginning inventory of a company using periodic inventory system is 300.000 lira. Total purchases cost 150.000 lira and the company has an ending inventory amount of 100.000. Which of the following is the amount of cost of goods sold for this company?

A) 300.000 B) 350.000 C) 400.000 D) 500.000 E) 550.000

Soru 20:

Purchase cost inventory of ABC company is 140.000. There is purchase returns amount of 25.000 and there is no allowances and discounts. Which of the following is the amount of net cost of inventory purchased?

A) 115.000 B) 125.000 C) 140.000 D) 155.000 E) 165.000