Deneme Sınavı Soruları

It is used to estimate an expected amount of uncollectible receivables.

It avoids using historical relationships between bad debts and net credit sales to estimate bad debts amount

It is a percentage relationship between amount of account receivables and estimated losses from uncollectible accounts.

Percentage of sales basis is the percentage relationship between the amount of credit sales and estimated losses from uncollectible accounts.

It is the analysis of customer balances with respect to the length of time they have not been paid

Bank statement

Bank reconciliation

Cash receipt

Seperation of duties

Audit report

Inventoy purchase

Sold inventory

Unsold inventory

Depreciation

Current liability

Gross profit

Sales discounts

Operating income

Net income

Interest revenues

allocates the cost of goods available for sale on the basis of the weighted average unit cost incurred.

assumes that the company uses perpetual inventory system as an accounting system

is determined by dividing the cost of goods available for sale by the number of units available.

is an inventory costing method based on the specific cost of particular units of inventory.

is an inventory costing method based on the weighted average cost per unit of inventory that is calculated after each purchase

The lengthier a receivable is past due, the less are the chances for collectivity.

The older they are, the more they can pay.

The older they are, the more properties they have.

The older they are, the less the expenses are.

The older they are, the more responsible they are.

11.500

16.500

14.500

10.000

15.000

Periodic inventory system is used by the companies with inexpensive inventories.

Periodic inventory system is used by the companies with manual accounting systems.

This system is preferred less day-by-day.

In periodic inventory system, companies use “Purchase” account to record their purchases of inventories.

In this system, companies continuously update the inventory account whenever a transaction occurs.

Sales returns and allowances 

Cash (net) realizable value

Cash discounts

Bad debt expense

Aging of accounts receivable

Lower of Cost or Market Value Method

Net Realizable Value

Inventory Turnover Ratio

Days’ Sales in Inventory

Last-In, First-Out (LIFO) Method

Perpetual Inventory System

Average Cost Method

Inventory Cost Flow

Specific Identification Method

Periodic Inventory System

Bank reconciliation

Bank statement

Income statement

Bank account

Cash ratio

Cash (Net) Realizable Value

Percentage of sales basis

Percentage of receivable basis

Aging of accounts receivable

Accounts Receivable Turnover Ratio

I and II

I and III

Only II

Onlay III

I, II and III

Connecting process

Identifying process

Summarizing process

Adjusting process

Recording process

Going concern 

Economic entity

Monetary unit 

Faithful representation

Relevance

Basic categories of adjusting entries are deferred (Prepaid) Expenses deferred (Unearned) Revenues, deffered liabilities and deffered revenues.

Generally, there are 4 types of adjusting entries. Adjusting entries are prepared for the following: Accrued Income – income earned annd  received. Accrued Expense – expenses incurred and already paid.

1. Deferred (Prepaid) Expenses
2. Deferred (Unearned) Revenues
3. Accrued Expenses
4. Accrued Revenues

Generally, there are 4 types of adjusting entriesare depreciable amount which  are the cost ,  asset,   other amount substituted for cost, and residual value.

Accrued Expenses (Expense Payable) –   interest and loan.

I and II

II and IV

III and IV

II and III

I and IV

forcing the state

to give tax

to earn money

to make effective and efficient decisions  

to prepare a financial statement

Only I

Only III

I and II

II and III

I, II and III