Seçmeli Ara Sınav - Accountıng Iı

Soru 1:

Anadolu Co. made an expense for 20,375 TL for the regular maintenance of the office store used in marketing department. How will Anadolu Co. record this expense in the journal?

A) Records as amortization B) Records as a term expense C) Records as inventory D) Records as an asset E) Adds to the cost of the office store

Soru 2:

Which of the following is defined as the value paid above the net worth of the company’s assets and liabilities?

A) Goodwill B) Pre-operating costs C) Franchises D) Patents E) Licenses

Soru 3:

When a debt security is issued, if the price paid for the security exceeds the face value, security is told to be sold at ______. Which of the following completes the sentence above?

A) a premium B) par C) a discount D) a residual value E) profit

Soru 4:

When an expense incurs but is not paid yet, how it should be recorded?

A) as accrued expense B) as accounts payablea C) as notes payable D) as contingent liability E) as unearned revenue

Soru 5:

Driveways Parking lots Fences Landscaping Underground sprinklers The cost of clearing the land and removing unwanted buildings Which of the above are not included in the cost of the land?

A) I and II B) I, III and IV C) II, III and IV D) III, IV, V and VI E) I, II, III, IV and V

Soru 6:

If a present obligation exists but the amount to settle the obligation cannot be estimated reliably, what is this obligation called?

A) Measurement B) Liability C) Provision D) Accrual E) Contingent liability

Soru 7:

... is to natural resources as ... is to plant assets and ... to intangible assets. Which of the following is accurate to fill in the blanks above?

A) Amortization-Depreciation-Depletion B) Amortization-Depletion-Depreciation C) Depreciation-Amortization-Depletion D) Depreciation-Depletion-Amortization E) Depletion-Depreciation-Amortization

Soru 8:

In which financial statement are intangible assets shown?

A) İncome Statement B) Balance Sheet C) Cash Flow Statement D) Owner's Equity E) İnventory Card

Soru 9:

How is the security classified when a company purchases a debt security with the aim of reselling for a higher price?

A) Debt security B) Equity security C) Available for sale security D) Trading security E) Held to maturity security

Soru 10:

A company has a lawsuit filled against it, claiming an indemnity of 40,000 TL. Probably is that the company will lose the lawsuit and the indemnity of 40,000 will be paid. How should the company record this?

A) should record a notes payable in the balance sheet B) should record an accrued consultancy expense C) should record a provision in the balance sheet D) should record a contingent liability in the balance sheet E) should disclose a contingent liability in the footnotes

Soru 11:

How is depreciation cost calculated?

A) Depreciable Cost = Cost of the asset x Residual value B) Depreciable Cost = Cost of the asset – Residual value C) Depreciable Cost = Total of the asset - Cost of the asset D) Depreciable Cost = Cost of the asset + Residual value E) Depreciable Cost = Cost of the asset / Residual value

Soru 12:

Which of the following is false about liabilities?

A) When an expense incurs but the payment will be made in other periods, companies should record a liability to be settled in future periods. B) The term “current” means “in the same period”, which stands for either “the same 12-months period” or “the same operating cycle”, whichever is longer. C) The term “accrual” refers to expenses that are incurred but unpaid. D) “Unearned revenue” refers to future revenues that are not collected but delivered. E) All expenses should be recorded in the periods they incur; so that the performance of the company can be assessed accurately

Soru 13:

Which of the following means recording the expenditure as an asset?

A) Capitalization B) Building C) Depreciation D) Cost E) Transportation

Soru 14:

Which of the following assets is not subject to a decreasing book value through depreciation, depletion, or amortization?

A) Natural resources B) Machine C) Land D) Intangibles E) Vehicle

Soru 15:

Why would a business select an accelerated method of depreciation for tax purposes?

A) Accelerated depreciation is easier to calculate because salvage value is ignored. B) Accelerated depreciation generates higher depreciation expense immediately. C) Accelerated depreciation generates a greater amount of depreciation over the life of the asset than does straight-line depreciation. D) MACRS depreciation follows a specifi c pattern of depreciation. E) The depreciation expense gradually decreases through the following years of the asset.

Soru 16:

I. partnering with other companies II. reducing the cost III. expansion Which of the following shows the purpose of longterm investments?

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

Soru 17:

What is the term used to refer to the liabilities that arise if the existence of an obligation is dependent on the occurrence of one or more future events?

A) accounts payable B) contingent liability C) notes payable D) short term bank loan E) accruals

Soru 18:

When a company develops its own intangible assets, how will it record it in the journal?

A) It is debited under Copyrights account. B) It is debited under Patents account. C) It is recorded as period cost. D) It is debited under Franchises & Licenses account. E) It is capitalized under Pre-Operating Costs account.

Soru 19:

Which of the following is true about liabilities?

A) They occur because of a future transaction or event. B) They create a present obligation for future payment of cash or services. C) They are avoidable obligations. D) Liabilities section of a balance sheet is used for equities. E) Liabilities are owner’ claims on total assets.

Soru 20:

Cost consists of some expenditures necessary to acquire the asset and make it ready for its intended use. Cost is the cash or cash equivalent price of obtaining the asset and bringing it to the location and condition necessary for its intended use. The cost of the property, plant, and equipment assets does not only consist of the purchase price of the asset. Added to the purchase price cash or cash equivalent prices for transferring, installment, assembling, insurance during transfer, permits, etc. must be included. Which of the statements above in terms of the concept of cost are correct?

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