Accountıng I Ara 11. Deneme Sınavı

Toplam 20 Soru
PAYLAŞ:

1.Soru

Which one of the following is "the definition of the process by which companies produce their financial statements for a specific period of time"?


Income statement

Balance sheet

Closing entries

Accounting cycle

Adjusting entries


2.Soru

Star Inc., has 200.000 TL in revenues, 25.000 in expenses. According to this information, Star Inc. which of the following is the change in stockholders’ equity?


+125.000

+150.000

+175.000

-150.000

-125.000


3.Soru

Which depreciation method allocates an equal amount of depreciation for each period?


Straight-Line Depreciation Method

Double Declining Balance Depreciation Method

Units of Production Depreciation Method

Sum-of-the-Years-Digits Depreciation Method

Single Declining Balance Depreciation Method


4.Soru

Which of the following is not one of the basic activities in accounting?


Identifying the financial transactions

Recording the financial transactions

Communicating to decision makers about transactions

Preparing financial statements

Communicating with banks for funding


5.Soru

Which of the followings refers to the situation when revenue is recognized before the cash is received?


Revenue recognition principle

Expense

Periodicity concept

Deferred revenue

Accrued revenue


6.Soru

Which one of the following describes entering an amount on the left side of an account?


Balancing

Crediting

Debiting

Writing

Clearing


7.Soru

A company has raw materials  which  will be consumed within 10 months. In which section of the balance sheet should the company report this?



Owner’s equity

Current assets

Non-current assets

Non-current liabilities

Current liabilities


8.Soru

Which of the following is not among the common accounting periods?


weekly

monthly

quarterly

semiannually 

yearly


9.Soru

A debit entry to an account....


increases owner’s equity.

increases liabilities.

Both A and B

increases assets.

Both A and D


10.Soru

Which of the following is not one of the steps in journalizing and posting process?


Identifying the accounts and the account types

Deciding whether each account increases or decreases

Recording the transaction in the journal.

Ignoring the balance in the accounting equation 

Posting the journal entry to the ledger


11.Soru

What is the activity of keeping records of the financial transactions called?


Economic transaction

Accounting

Bookkeeping

Financial statement

Classifying


12.Soru

Which of the following statements is wrong?


Crediting refers to the act of making an entry on the right side of an account

Debit and credit effects vary due to the types of accounts

In a double-entry system, equal debits and credits are made in the accounts for each transaction

Assets, distributions, and expenses increase by crediting (on right side) and normally show credit balance
There are three main steps which occur repeatedly in the recording process: Analyzing, journalizing and posting

13.Soru

Which of the following includes the assets that will be converted into cash, sold, consumed or received within 12 months?


Current assets

Non-current assets

Current liabilities

Non-current liabilities

Owner's equity


14.Soru

Which of the following is not one of the parties that the accounting numbers are prepared for?


Owners

Managers

Employees

Creditors

Suppliers


15.Soru

The company has 15,000 liras of revenues and 3,000 liras of expenses.

Which of the following statement is TRUE about this company's closing process?


12,000 liras of revenue will be posted to Income Summary account.

3,000 liras of expense will be posted to credit side of Income Summary account.

15,000 liras of revenue will be posted to debit side of Income Summary account.

The company has a loss of 3000 liras.

12,000 liras of profit is transferred to Capital account.


16.Soru

At the end of the each month which one is prepared by the company?


Monthly trial balance

Adjusted trial balance

Closing entries

Post-closing trial balance

Preparing unadjusted trial balance at the end of the period


17.Soru

Which is NOT TRUE about trial balance?


It is a list of all ledger accounts with their balances at a point in time.

It proves the mathematical equality of debits and credits after posting.

Owner's equity is summarized last.

It is seen by company insiders and outsiders. 

It is generally  prepared on the last day of the accounting period.


18.Soru

Which of the following described "The cost of assets consumed or services used during the revenue earning process"?


Expense

Revenue

Cost

Income

Cash


19.Soru

Which of the following are the functions of accounting?


Identification and Recording

Recording and Communicating

Communicating 

Identification, Recording and Communicating

Identification and Communicating


20.Soru

.......... refers to the valuation (determination of the monetary amount subject to recording) of assets and liabilities in accounting process.


Ethics

Faithful representation

The rightness

Measurement

Relevance