Accountıng I Ara 3. Deneme Sınavı

Toplam 20 Soru
PAYLAŞ:

1.Soru

Which of the following is an internal information user?


Employees

Investors

Creditors

Government

Customers


2.Soru

What is the meaning of depreciation in accounting?


Value and usefulness of some assets will increase their value when the business uses them in its operations.

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.

 Businesses depreciate short-term assets for both tax and accounting purposes.

Businesses depreciate short-term liabilities for both tax and accounting purposes.

Depreciation is the systematic allocation of the expected  amount of an asset and liabilities  over its residual life.


3.Soru

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?


To the revenue account

To the statement of owner’s equity

To income summary account

To expense accounts

To the credit side of Capital account


4.Soru

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?


Accounts Payable

Accounts Receivable

Unearned revenue

Prepaid expenses

Notes receivable


5.Soru

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.


Balance sheet

Income statement

Statement of owner’s equity

Cash flow statement

Adjusted trial balance


6.Soru

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?


10.000

15.000

20.000

25.000

30.000


7.Soru

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


Book value

Residual value

Useful life

Depreciation expense

Depreciable amount


8.Soru

Which element is included in Typical Asset Accounts?


Accrued Liabilities

Notes Payable

Owner, Withdrawals

Unearned Revenue

Accounts Receivable


9.Soru

What is revenue?


Revenue use up assets or create liabilities in the course of operating a business.

Revenue is the amounts taken out of the business by the owner appear in a separate account titled Withdrawals or Drawling.

It is known an account which represents the net contribution of the owner in the business.

Revenue is an accrued accounting that is a special form of liability for an expense you have not yet paid.

The increase in owner’s equity created by delivering goods or services to customers is called revenue.


10.Soru

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


Statement of cash flows

Balance sheet

Owner’s equity statement

Income station

Audit report


11.Soru

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


Deferrals

Adjusting Entries

Accruals

Deferred (Unearned) Revenues

Accrued Expenses


12.Soru

Which of the followings is correct about deferred expenses?


Expenses is recorded at the same time with the revenues.

Expense is recognized when cash is received.

Expense is recognized when it is incurred.

Expense is recognized after the cash is received.

Expense is recognized after the cash is paid.


13.Soru

Which of the followings is not correct?


Assets decrease on left side by debiting while increase on right side by crediting and normally show debit balance.

 Expenses increase on left side by debiting while decrease on right side by crediting and normally show debit balance.

Liabilities increase on right side by crediting while decrease on left side by debiting and normally show credit balance. 

Contributions increase on right side by crediting while decrease on left side by debiting and normally show credit balance. 

 Distributions increase on left side by debiting while decrease on right side by crediting and normally show debit balance. 


14.Soru

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


Capital account

Income Summary account

Revenue account

Expense account

Credit account


15.Soru

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


Accrued expenses

Deferred expenses

Accrued revenues

Deferred revenues

Matched expenses


16.Soru

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


Posting daily transactions to accounts

Preparing adjusted trial balance

Analyzing and journalizing daily transactions

Adjusting entries

Opening entries based on opening balance sheet


17.Soru

Which of the following is correct?


Assets decrease on left side by debiting while increasing on right side by crediting and normally show debit balance. 

Liabilities increase on right side by crediting while decrease on left side by debiting and normally show credit balance. 

Contributions decrease on right side by crediting while increasing on left side by debiting and normally show credit balance. 

 Distributions decrease on left side by debiting while increasing on right side by crediting and normally show debit balance. 

Revenues decrease on right side by crediting while increasing on left side by debiting and normally show credit balance. 


18.Soru

What are the sources of financing a business?


Companies have two finance sources for their assets. They are liabilities and owner’s equity.  

The sources of financing a business is owner’s equity.

The sources of financing a business is non-current liabilities.

The sources of financing a business is non-current assets.

The sources of financing a business isthe cash, and cash equivalents.


19.Soru

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


Identify the accounts and the account types (asset, liability, or equity)

Record the transaction in the journal

Determine whether the accounting equation is in balance

Decide numerical identifications of the accounts which are used later in posting

Post the journal entry to the ledger


20.Soru

......................................... is the procedure of transferring journal entries to the ledger accounts.

Which of the following should be the dotted line?


Posting

Ledger

Analyzing

Journal

Journalizing