Deneme Sınavı Soruları

Balance Sheet

İncome Statement

Trial Balance

Journal

Cash Flow Statement

Business transactions of the entity are separated from the owner’s personal transactions.

The entity stands apart as a separate economic unit.

Business is a separate entity distinct from its creditors.

Business is a separate entity distinct from its customers.

In a sole proprietorship the owner is not personally responsible for the debts of business. 

Cash

Accounts Payable

Unearned Revenue

Equipment

Revenues

Accrued revenues

Accrued expenses 

Deferred revenues 

Depreciation

Deferred expenses 

when it is earned

after the cash is received

after the cash is paid

before the cash is paid

before the cash is received

Benefit

Income

Expense

Revenue

Loss

Accrued Liabilities

Unearned Revenue

Prepaid Expenses

Notes Receivable

Accounts Receivable

Balance sheet

Adjusted trial balance

Income statement

Cash flow statement

General ledger

Service Revenue has a debit balance.

Account payable has a credit balance.

Salary Expense has a debit balance.

Supplies has has a debit balance.

Account Receivables has debit a balance. 

Accounting equation best reflects the equity owners' residual claim on total assets after subtracting all liabilities.  Assets = Shareholders' Equity + Liabilities. 

An accounting equity is an individual accounting tool that shows the increases and decreases in a specific asset, item during a specified period.

An accounting equity are the basic storage units for accounting data and are used to accumulate amounts from similar financial transactions. so, an account is a summary device of accounting.

An Accounting equity is cash-equity. Cash equity  means business’s money and any medium of exchange including paper currency, coins, certificates of deposit, and checks.

An Accounting equity is that companies might sell their goods and services on account and receives a promise for future collection of cash.

Closing Entries

Adjusted Trial Balance

Post Closing Trial Balance

Income Summary

Income statement

Adjusted Trial Balance

Income Statement

General Ledger

Assets Amount

Closing entries

Only I

Only III

I and II

I and III

I, II and III

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

Managers

Government

Investors

Creditors

Competitors

The post-closing trial balance contains only revenue accounts.

The post-closing trial balance contains only expense accounts.

The post-closing trial balance contains no revenue, expense, gain, loss, or summary account balances, since these temporary accounts have already been closed and their balances moved into the retained earnings account as part of the closing process.

The post-closing trial balance contains only income summary.

The post-closing trial balance contains only liabilities and Capital accounts and assets.

Rules

Rightness

Honesty

Intention

Ethics

Income Statement is a financial document prapered  only quarter.

It can cover any period of time for which you want information, from a particular week to a span of multiple mounts.

Income Statement is a financial document prapered  only quarter.

Income Statement is a financial document that can cover any period of time for which you want information, from a particular week to a span of multiple years.

Income Statement is a financial document generated only monthly.

The Revenue Recognition Principle

Matching Principle

Expense recognition principle

Time Period Concept

Monetary Unit Assumption

Ethics

Faithful representation

The rightness

Measurement

Relevance