Accountıng I Final 1. Deneme Sınavı

Toplam 20 Soru
PAYLAŞ:

1.Soru

Which of the following is the right formula for the calculation of each unit of inventory?


Cost per unit = Purchase returns + Purchase price – Purchase discounts –  Purchase returns - Freight in

Cost per unit = Purchase discounts- Purchase price – Purchase returns + Freight in

Cost per unit = Purchase price – Purchase discounts – Purchase returns + Freight in

Cost per unit = Purchase price – Purchase discounts + Purchase returns + Freight in

Cost per unit = Purchase price – Purchase discounts – Purchase returns - Freight in


2.Soru

.........................................holds that companies should use the same accounting methods and procedures in each accounting period so that the information provided will help investors and creditors to compare a company’s financial statements from one period to the next.

Which should come to the dotted place according to the continuation of the sentence?


Disclosure Principle

Consistency Principle

Materiality Concept

Conservatism Principle

Perpetual Inventory Principle


3.Soru

Which one of the following is recognized at their fair value, which comprises of transaction costs associated with the transaction?


Sales allowances

Cash discounts

Trade discounts

Valuation of accounts receivables

Deferred Delay Charges


4.Soru

Which of the following is an income statement account that shows the losses incurred due to uncollectible receivables?


Sales Revenue

Sales Returns and Allowances

Interest Income Deferred Delay Charges

Bad Debt Expense

Deferred Delay Charges


5.Soru

What is the amount owed to a company by customers as a result of delivering goods or services? 


Bad debt expense

Accounts receivable

Trade discounts

Cash discounts

Cash (net) realizable value


6.Soru

Suppose that on April 15, %10 of the 100 units (each unit costs 500 TL) of baby car seats sold on credit on April 20 is returned. Which of the following accounts are used to record this transaction?


Accounts Receivable, Sales Returns and Allowances

Cash, Sales Returns and Allowances

Banks, Sales Returns and Allowances

Cash, Sales Revenue

Sales Revenue, Banks


7.Soru

"This is the estimated sales value minus estimated cost of completion
and minus estimated cost of sale." Which option is described above?


Lower of Cost or Market Value Method

Net Realizable Value

Inventory Turnover Ratio

Days’ Sales in Inventory

Last-In, First-Out (LIFO) Method


8.Soru

I. Recording the business transactions

II. Communicating of the financial transactions of an entity to interested users

III. Identifying business activities

IV. Growing sustainably to gain more benefits

Which of the given is among the basic activities of accounting?


I & IV

I, II & III

I, II & IV

I, III & IV

II, III & IV


9.Soru

Which one of the following is an income statement account that shows the losses incurred due to uncollectible receivables?


Income statement

Cash discounts

Bad debt expense

Trade discounts

Sales allowances


10.Soru

Which of the following shows the calculation for Days' Sales Inventory?


365 days divided by inventory turnover

7 days divided by inventory turnover

365 days divided by  average merchandise inventory

7 days multiplied by inventory turnover

365 days multiplied by inventory turnover


11.Soru

Which of the followings is not among the expenses of “Single-Step Income Statement”?


Salaries Expense

Advertising Expense

Research and Development Expenses

Delivery Expense

Depreciation Expense


12.Soru

"This is an income statement account that shows the losses incurred due to uncollectible receivable." Which option is described above?


Allowance method or the direct write-off method

Cash discounts

Sales returns and allowances

Cash (net) realizable value

Bad debt expense


13.Soru

If the Accounts receivables is 500,000 and  Allowance for doubtful debts is 20,000 what is the Cash (Net) Realizable Value of the Accounts Receivable? 


520,000

480,000

2,500

80,000

5,000


14.Soru

  1. raw materials inventory
  2. work-in-process inventory
  3. finished goods inventor

Which of the inventory types above do manufacturing companies have?


Only I

Only III

I and II

I and III

I, II and III


15.Soru

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


Payee

Maker

Factor

Promissory note

Buyer


16.Soru

Which of the following is the definition of "revenue", which is one of the factors increasing or decreasing the level of owner’s equity?


Revenues are the gross increase in owner’s equity resulting from business activities entered into for the purpose of earning income.

Revenues are the cost of assets consumed or services rendered in the process of earning revenue

Revenues are the gross income in owner’s equity resulting from trade business activities

Revenues are the financial transactions of the business recorded by accountants

Revenues are the expenses which decrease owner’s equit


17.Soru

Which one is determined by dividing the cost of goods available for sale by the number of units available?


Average Cost Method

Inventory Cost Flow

Specific Identification Method

Weighted average cost per unit

Conservatism


18.Soru

" Some sorts of programs can control, find solutions to protect businesses’ cash and
other assets against fraud." Which notion's explanation is given above?


Cash

Cash Budget

Receipts

Artificial Intelligence

Internal Control


19.Soru

What reports the cost of goods, materials and other components of manufacturing process used for the inventory which are still in production process?


Raw Materials Inventory

Finished Goods Inventory

Work in Process Inventory

Accounting Principles

Inventory Accounting Systems


20.Soru

Which one of the following is the business of purchasing receivables from companies upon a fee for the services performed to manage and collect receivables?


Credit cards sales

Debit card sales

Leasing

Factoring

Forfaiting