Accountıng Iı Final 3. Deneme Sınavı
Toplam 20 Soru1.Soru
What is a distribution of some portion of earnings to the shareholders by a corporation?
Retained earning |
Net income |
Deficit |
Dividend |
Debit |
Dividends are distributions of cash, other property, or share of the business to the shareholders of a corporation on a pro rata (proportional to ownership) basis. In other words, a dividend is a distribution of some portion of earnings to the shareholders by a corporation. The correct answer is D.
2.Soru
Which of the following is true about corporations?
Shareholders are personally responsible for the corporation’s liabilities. |
Shareholders’ possible loss goes beyond their capital investment. |
Creditors can make claims on shareholders’ personal assets. |
Shareholders can transfer corporation’s shares to another one. |
The cancellation of the corporation depends on the death of any shareholder. |
As an important characteristic, shareholders are not personally responsible for the corporation’s liabilities. This means that shareholders’ possible loss is limited with their capital investment. Hence, the creditors cannot make any claim on shareholders’ personal assets. This characteristic of corporation is essential for the shareholders because their personal assets are protected and the corporation may raise may raise more capital from shareholders. Also, the government and related regulators design more regulations and try to monitor corporations to protect shareholders’ and creditors’ claims. Another characteristic is the transferability of the shares. This characteristic is essential for shareholders since it is flexible. They can transfer corporation’s shares to another one.
The cancellation of the corporation does not depend on the death of any shareholder or their choices to cancel it. In other words, the corporation is a permanent organization. The transfer of the shares, anyone’s death or withdrawal do not put an end to the corporation. The correct answer is D.
3.Soru
Which of the following is a distribution of a corporation’s own shares to the shareholders as dividends?
Book value |
Cash dividend |
Share dividend |
Cumulative preferred share |
Preferred dividend |
Share dividend is a distribution of a corporation’s own shares to the shareholders as dividends. The correct answer is C.
4.Soru
Which reporting method shows each major class of gross cash receipts and gross cash payments?
Direct method |
Indirect method |
Remote method |
Backstair method |
Oblique method |
The direct method shows each major class of gross cash receipts and gross cash payments. The direct method shows all cash receipts and cash payments from operating activities.
5.Soru
Which of the following statements define the term “Liquidation” related to the general rights of shareholders in a corporation?
When declared, shareholders receive a proportionate of some dividend. |
When a corporation goes out, shareholders may receive their proportion- ate share of any asset that still remains. |
Shareholders have the right to maintain their proportionate ownership in corporations. |
Coequal shareholders legally own the corporation. |
Shareholders have the right to access information related to the corporation. |
Liquidation: When a corporation goes out, shareholders may receive their proportion- ate share of any asset that still remains.
6.Soru
On January 2, 2019 Anadolu Co. issued bonds for 100,000 TL due in 5 years with 8 percent interest payable semiannually. At the time of issue market rate for such bonds is 6 percent. The principal amount borrowed will be paid back once at maturity. Calculate the present value (selling price) of the bonds.
104,890 TL |
108,530 TL |
115,563 TL |
117,472 TL |
120,563 TL |
Present Value of the Principal
100,000 TL x 0.74726 (Appendix A, Table 1, n: 10, i:3%) 74,409 TL
Present Value of the Interest Payments
4,000 TL x 8.53020 (Appendix A, Table 2, n: 10, i: 3%) 34,121 TL
Present value (selling price) of the bonds 108,530 TL
The correct answer is B.
7.Soru
I. Proprietorships
II. Partnerships
III. Corporations
Which of the entities above require(s) the responsibilities of their owners for the entities's liabilities?
I |
II |
III |
I and II |
II and III |
As an important characteristic, shareholders are not personally responsible for the corporation’s liabilities. This means that shareholders’ possible loss is limited with their capital investment. Hence, the creditors cannot make any claim on shareholders’ personal assets. This characteristic of corporation is essential for the shareholders because their personal assets are protected and the corporation may raise may raise more capital from shareholders. The correct answer is D.
8.Soru
Which reporting method starts with net income and reconciles to net cash provided by operating activities?
Direct method |
Indirect method |
Frontal method |
Straight Method |
Incisive method |
The indirect method adjusts accrual basis net profit or loss for the effects of non-cash transactions. Indirect method relies on necessary additions and subtractions from net profit to find operating cash flows. Indirect method starts with net income and reconciles to net cash provided by operating activities.
9.Soru
Which of the following is an indicator of reliability level for a company in terms of either survival or credibility?
Liability |
Liquidity |
Probability of occurance |
Accrual |
Provision |
Liquidity is an indicator of reliability level for a company in terms of either survival or credibility.The correct answer is B.
10.Soru
Which of the following must be debited to record the declaration of a small share dividend with its market value?
Cash Dividends |
Common Share Dividend Distributable |
Retained Earnings |
Paid-in Capital in Excess of Par |
Dividends payable |
To record the declaration of a small share dividend with its market value, the Retained Earnings account should be debited for market value. A shareholders’ equity account named Common Share Dividend Distributable is credited with the par or stated value and Paid-in Capital in Excess of Par is credited with the remaining amount.
11.Soru
The term ________ is defined as the present obligations with uncertain amounts to settle.
Which of the following completes the sentence above?
unearned revenue |
estimated liabilities |
accrued expense |
bank loans |
accounts receivable |
The term “estimated liabilities” is defined as the present obligations with uncertain amounts to settle. That amount is the best estimate of the amount that an entity would rationally pay to settle the obligation at the balance sheet date. The correct answer is B.
12.Soru
What represents the amount of the owner’s equity on the corporation’s books for each common share?
Book value per share |
Earnings per share |
Return on equity |
Common shares outstanding |
Return on investment |
Book value per share ratio is used to calculate the per share value of a corporation. In other words, it represents the amount of the owner’s equity on the corporation’s books for each common share. The correct answer is A.
13.Soru
Assume that (A) Inc has 50,000 outstanding preferred shares of 10%, 30 TL par preferred share. Given this, please calculate the preferred dividend.
120,000 |
130,000 |
140,000 |
150,000 |
160,000 |
The preferred dividend = Outstanding preferred shares x Par value x Preferred dividend rate
50,000 x 30 x 10% = 150,000 TL
14.Soru
Which of the following is a disadvantage of a corporation?
Corporations are separate legal entities. |
Shareholders have limited liability in corporations. |
Corporations have continuous lives. |
Corporations may be subject to double taxation. |
Raising more capital can be easy in corporations in comparison to other types of entities. |
Double taxation is a disadvantage of a corporation but others are advantages.
15.Soru
What is an entity owned by two or more owners?
Corporation |
Proprietor |
Partnership |
Proprietorship |
Ownership |
Partnership is an entity owned by two or more owners.
16.Soru
Which of the following is the term that used for the bonds that issued in the name of the owner?
Registered bonds |
Bearer bonds |
Coupon bonds |
Income bonds |
Revenue bonds |
Bonds issued in the name of the owner are called “registered bonds” and require surrender of the certificate and issuance of a new certificate to complete a sale.
17.Soru
What is an entity owned by a single owner?
Corporation |
Proprietor |
Partnership |
Proprietorship |
Ownership |
Proprietorship is an entity owned by a single owner.
18.Soru
I.Trading securities II.Held-to-maturity securities III. Available-for-sale securities Which of the followings is/are equity securities?
I |
II |
I and II |
I and III |
II and III |
• Trading securities are debt or equity securities bought and held principally for the purpose of being sold in the near term to generate income on short-term price differences.
• Available-for-sale securities are debt or equity securities that do not meet the criteria for either trading or held-to-maturity securities. They are held with the intent of selling them sometime in the future. Therefore, they may be short-term or long-term depending on what management intends to do with them.
• Held-to-maturity securities are debt securities that the investor has an intend and ability to hold until their maturity date.
The correct answer is D.
19.Soru
Which of the following is a measure of a corporation’s profitability that presents how much profit it generates with each item (TL) of shareholders’ equity?
Paid-in Capital |
Comprehensive Income |
Book Value Per Share |
Earnings Per Share |
Return on Equity |
Return on Equity is a measure of a corporation’s profitability that presents how much profit it generates with each item (TL) of shareholders’ equity. The correct answer is E.
20.Soru
Which of the following is the amount of bond interest expense minus bond interest paid?
Face Amount |
Stated Interest Rate |
Amortization Amount |
Carrying Value |
Effective Interest |
Amortization Amount = Bond Interest Expense – Bond Interest Paid
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