Deneme Sınavı Soruları

Bad debt expense

Cash discounts

Sales returns and allowances

Cash (net) realizable value

Trade receivables

The Sales account is used to record only sales on account.

A service company purchases products from suppliers and then sells them.

Gross profit = Net sales revenue+Cost of goods sold

Net sales revenue = Sales Revenue – (Sales Returns and Allowances + Sales Discounts)

The invoice is the purchaser’s request for collection from the customer.

Sales returns

Sales discounts

Sales allowance

Sales revenue

Sold merchandise

Sales Returns and Allowances

Cash (net) realizable value

Accounts receivable

Trade Discounts

Cash Discounts

Net credit sales is multiplied by net accounts receivable.

Net credit sales is divided by net accounts receivable.

Net credit sales minus net accounts receivable.

Net credit sales is added to net accounts receivable.

Net credit sales is divided by 365 days.

Income before tax

Gross profit

Net sates

Expenses

Operating income

They have inexpensive inventories and manuel accounting systems.

They continuously update the inventory account.

The purchases of inventories are directly debited to inventory account

The cost of inventories are credited when they are sold.

They have continuous control over inventories.

Control environment

Risk assessment

Control activities

Information and communication

Monitoring activities

Statement of cash flows 

Petty cash ticket 

Bank reconciliation 

Bank statement

Cash ratio

Anticipate gains, and provide for all probable income.

If in doubt, record an asset the lowest reasonable amount and reliability at the highest reasonable amount.

When there is a question, record an expense rather than an asset.

When you are faced with a decision between two possible options, you must choose the option that undervalues, rather than overvalues, your business.

The purpose of conservatism is to report realistic figures and never exaggerate assets or net income.

Anticipate no gains, but provide for all probable losses.

If in doubt, record an asset the lowest reasonable amount and reliability at the highest reasonable amount. 

• When there is a question, record an expense rather than an asset.

Perform strictly proper accounting only for significant items.

Choose the option that undervalues, rather than overvalues, your business

Inventories are asset items that a company holds for sale in the ordinary course of business.

Inventories are items that are not used or consumed in the production of
goods to be sold

Inventories do not come out as different categories in companies depending on
their activities.

Inventories  are purchased by merchandising companies in a form ready for sale

Inventories are not accounted companies' financial statements.

200.000

220.000

225.000

240.000

250.000

Assets are debts that are owed to creditors

Assets are economic resources that are expected to benefit the business in the future

Assets are the claims of creditors against to assets of the company

Assets the owner’s claims to the assets of the business

Assests are the total assets of an entity, minus its total liabilities
.

assets

liabilities

owner's equity

cash

transaction

Book Value

Usefulness

Accumulated Depreciation

Residual Value

Depreciation Amount

Ethics

Faithful representation

The rightness

Measurement

Relevance

Assets

Liabilities

Equity

Income

Cost

Identifying financial transactions

Recording financial transactions

Connecting financial transactions

Communicating financial transactions

Summarizing financial transactions