Deneme Sınavı Soruları

Honor of Notes Receivable

Dishonor of Notes Receivable

Sale of Notes Receivable

Realizable Value Receviable

None of them

before the sales revenue account is credited by banks

when the company has to debit accounts receivables

when another company buys the company's goods or services on cash basis

when a company sells goods or services to its customer on credit 

when thebasic sales transaction has no cash and income increasing effect

365 days

31.5  days

41.4 days

121 days

15.6 days

Inventory is valued at market value other than cost.

Inventories which are most recently purchased are sold first.

Inventories which are purchased first are sold first.

Weighted average cost per unit is determined by dividing the cost of goods available for sale by the number of units available.

The business maintains detailed records of inventory sales and purchases as well as carefully identifying the inventory sold.

I, III and IV

I and II

I, II and IV

II, III and IV

I, II, III and IV

A petty cash fund

Cash ratio fund

management fund

Accountant fund

Cash fund

Specific Identification Method

Average Cost Method

First-In, First-Out (FIFO) Method

Last-In, First-Out (LIFO) Method

Total Cost Method

Consistency principle

Conservatism 

Disclosure principle

Materiality concept

First in- first out method

Cash Ratio

cybersecurity

transaction

online banking

a petty cash fund

Approval of bad debt write-offs, and reconciliation of the accounts payable subsidiary ledger and controlling account.

Posting of amounts from both the cash receipts journal and cash payments journal to the general ledger.

Access to the safe-deposit box requires two officers.

Recording of cash receipts and preparation of bank reconciliations.

Distribution of payroll checks and approval of sales returns for credit.

Beginning Inventory

Ending Inventory

Value-Added Tax

Purchases

Cost of Goods Sold

Control environment

Risk assessment

Control activities

Relating activities

Monitoring activities

Account receivables account is debited; sales revenue account is credited.

Account receivables account is credited; sales revenue account is debited.

Cash account is credited; the sales revenue account is debited.

Cash account is debited; the sales revenue account is credited.

Account receivables account is debited; the sales revenue account is credited.

to increase the owner’s equity while owner’s withdrawals and expenses decrease the owner’s equity

to decrease liabilities or owner’s equity following the the total of the investment within the firm

to use appropriate accounts instead of using only minus procedure at the end of the year

to keep the accounting equation in balance by using appropriate accounts instead of using plus and minus procedure.

to increase liabilities or owner’s equity because they are on opposite sides of the equality.

Chart of accounts

The Ledger

The T-Account

Debits and Credits

Journal entries

Assets

Expenses

Both A and B

Liabilities

Revenues

Cash / Owner’s Drawings

Equipment / Cash

Salaries and Wages Expense / Cash

Cash / Service Revenue

Advertisement Expense / Accounts Payable

The ledger

Trial balance

Journalising 

Posting

Analyzing

Credits

Debits

Trial balance

Balance sheet

Journalizing

Owner,Capital

Expenses

Revenues

Owner, Withdrawals

Accrued Liabilities