Accountıng Iı Final 2. Deneme Sınavı

Toplam 20 Soru
PAYLAŞ:

1.Soru

Which of the following is false about long-term liabilities?


They consist of an expected outflow of resources arising from present obligation.

They have various covenants or restrictions for the protection of both lenders and borrowers.

They are  the most common way to finance the expansion of a business.

They are payable within a year or the operating cycle of the company whichever is longer.

Bonds payable, long-term notes payable and mortgages payable are example of long term liabilities.


2.Soru

I. Sole proprietorship
II. Partnership
III. Corporation

Which of the above is/are not a separate taxable entity?


Only I

Only II

I and II

I and III

I, II and III


3.Soru

What are the bond issues that mature in installments called?


Term bonds

Serial bonds

Callable bonds

Secured bonds

Unsecured bonds 


4.Soru

Which of the following cash inflows come from operating activities?


The sale of property, plant, equipment, and investments

The the collection of long term notes receivable

Issuance of share and selling treasury share

Receipt of borrowing money

Interest and dividend income


5.Soru

What are the dividends which are greater than 20%–25% of the corporation’s issued shares called?


Small share dividend

Large share dividends

Preffered dividends

Common share dividend

Cash dividends


6.Soru

Which of the following transactions is an example for intangible assets? 


Pre-operating costs

Land improvements 

Purchased building

Acquired land

Short term investments


7.Soru

On January 1, 2018 Call Corporation issued bonds for $100,000 due in 5 years with 10 percent interest payable semiannually (twice a year). At the time of issue market rate for such bonds is 12 percent. The principal amount borrowed will be paid back once at maturity. What is  the selling price of bonds?


92,791

100,000

56,743

36,048

7,209


8.Soru

Which of the following consist of an expected outflow of resources arising from present obligations that are payable within a year or the operating cycle of the company whichever is longer?


Current Liabilities

Non-Current Liabilities

Long-Term Liabilities

Bond Indenture

Stated Interest Rate


9.Soru

1. Cash collections from customers

2. Payments for operating expenses

3. Payments to suppliers

4. Payments of interests and income taxes

5. Payments to employes

To calculate operating cash flows for the direct method, what is the correct of the order of the steps listed above? 


1-2-3-4-5

1-3-2-4-5

1-3-2-4-5

2-1-4-3-5

3-2-1-5-4


10.Soru

Which of the following is not true about proprietorships?


A proprietorship is owned by a single owner. 

Proprietorship is the smallest and simplest one among the different types of entities. 

A proprietor's equity can be seen as only one item in owner’s equity section of the balance sheet.

A proprietorship is  a separate taxable entity. 

The proprietor is personally liable for the proprietorship’s liabilities. 


11.Soru

________ is a measure of a corporation’s profitability that presents how much profit it generates with each item (TL) of shareholders’ equity.

Which of the following completes the sentence best?


Net income

Return on equity

Average shareholder's equity

Comprehensive income

Preferred dividend


12.Soru

________ are debts incurred in the normal course of a business, resulting from acquisition of inventories and supplies.

Which of the following completes the sentence above?


notes payable

unearned revenue

accounts payable

short term bank loan

current portion of long-term bank loans


13.Soru

Which of the following must be reported in "Cash Flows from Operating Activities" in the cash flow statement?


Cash inflows from customers for the sales of merchandise inventory and services

Cash outflows to purchase property, plant, equipment, and investments

Cash inflows from the collection of long term notes receivable

Cash inflows from issuance of share and selling treasury share

Cash outflows for repayments of loans


14.Soru

Which of the following describes the bonds issued at discount?


Market interest rate is more than the stated interest rate of the bond issued.

Market interest rate is less than the stated interest rate of the bond issued.

Stated interest rate is equal to market interest rate.

Stated interest rate is known but  market interest rate is not known

Selling price of a bond is equal to its face value.


15.Soru

"It has no effect on cash, but like all other expenses decreases net income. So in order to reconcile net income to net cash flows from operations we have to add it back to net income."

Which of the following terms is described above?


Gains and Losses on the Sale of Long Term Assets

Depreciation Expenses

Changes in the Current Asset and Current Liabilities

An increase in a current liability

An decrease in a current liability


16.Soru

Which of the following is called for bonds issued in the name of the owner?


Revenue bonds

Coupon bonds

Registered bonds

Secured bonds

Serial bonds


17.Soru

Which of the following is not true about partnerships?


The cancellation of the partnership may be caused by one of the partners’ death.

The partners are personally liable for the partnership’s liabilities.

The accounting process of a partnership is separate from the personal records of the partners. 

A partnership needs to have at least two or more owners.

Partnerships are separate taxable entities.


18.Soru

Which of the following must be reported in "Cash Flows from Financing Activities" in the cash flow statement?


Cash inflows from customers for the sales of merchandise inventory and services

Cash inflows for interest and dividend income

Cash inflows from the sale of property, plant, equipment, and investments

Cash inflows from the collection of long term notes receivable

Cash inflows from receipt of borrowing money


19.Soru

Anadolu Co. issued 200,000 TL of 12% 5 year bonds on January 1, 2019, interest is payable annually. Market interest rate was 10%. The principal amount borrowed will be paid back once at maturity. Calculate the selling price of bonds and make the necessary journal entry as of the issue date. 


Debit:

Cash - 215,163

Credit:

Long Term Bonds Payable - 200,000

Premium on LT Bonds Payable - 15,163

Debit:

Cash - 215,163

Credit:

Long Term Bonds Payable - 15,163

Premium on LT Bonds Payable - 200,000

Debit:

Cash - 215,163

Credit:

Long Term Bonds Payable - 200,000

Discount on Long Term Bonds Payable - 15,163

Debit:

Cash - 115,163

Credit:

Long Term Bonds Payable - 100,000

Premium on LT Bonds Payable - 15,163

Debit:

Cash - 115,163

Credit:

Premium on LT Bonds Payable - 100,000

Long Term Bonds Payable - 15,163


20.Soru

Which of the following is not based on the types of entities?


Common share

Ownership

Taxation

Life

Personal liability of the owners