Deneme Sınavı Soruları

The Ledger

Chart of Accounts

Trial Balance

Balance Sheet

Income Statement

It is called as deferred expense. 

It is called as accrued expense.

It is an advance payment of future expenses.

It is a prepayment

It is called as prepaid expense.

Recording in the Journals. 

Adjusted Trial Balance.

Unadjusted Trial Balance.

Financial Statements

Posting to the Ledger.

Companies record the impact of a business transaction as it occurs.

The moment companies perform a service, the transaction is recorded.

Companies record only when they receive a cash. 

Companies record revenues when they are earned. 

Companies record expenses when they are incurred. 

Balancing

Crediting

Debiting

Writing

Clearing

It states that assets are recorded at their cost.

It states that assets and liabilities are reported at their fair value.

It means the factuality of financial statements.

It is the universally accepted accounting principle that all material matters are to be disclosed.

It refers the impact capacity of financial information on the decisions of information users.

Debit

Credit

Journal

T-account

Ledger

Only I

Only II

I and II

II and III

I, II and III

Deferred revenue

Accured revenue

Matching principle

Recognition principle

Cash basis accounting

Owner,Capital

Expenses

Revenues

Owner, Withdrawals

Accrued Liabilities

Employees

Investors

Creditors

Government

Customers

Current assets

Non-current assets

Current liabilities

Non-current liabilities

Owner's equity

Financing current assets with non-current liabilities is more advantegous.

Non-current liabilities are the liabilities that their maturity dates are within one year.

Companies use their non-current liabilities for financing only non-current assets.

Non-current liabilities explain the measure of how quickly and easily an account can be converted into cash.

Non-current liabilities report the changes in the capital throughout the period caused by the owner’s  net profit or loss.

Debiting

Crediting

Double entrying 

Revenuing 

Asseting

Accounts, Closing Entries for Expense.

Closing the Income Summary Account.

Close revenue accounts. close expense accounts, close income summary account, close dividends (or withdrawals) account.

Revenue accounts have credit balances or have no balances at the end of the term.

As the end of the period comes, adjusting entries are made to ensure the assets, liabilities and owner’s equity.

Posting

Ledger

Analyzing

Journal

Journalizing 

Connecting process

Identifying process

Summarizing process

Adjusting process

Recording process

They are economic resources a business owns.

They are claims against assets as existing debts and obligations.

They represent the capital theoretically available for distribution to shareholders.

They are the ownership claims on total assets. 

Raw materials and supplies which are needed to start production become liabilities of the company when they are acquired.

Debiting

Crediting

T-Account

Double entry accounting

The ledger