Deneme Sınavı Soruları

The loss amount is not charged directly to the uncollectible account expense

The company does not estimate bad debts losses in this method.

The company uses allowance account for the expenses based on estimates in this method

Uncollectible receivables cannot be calculated through Direct Write-off Method.

It is mainly used by relatively small and private companies

It is an unintentional misrepresentation of some items.

Employees trying to steal money is a type of fraud.

Managers can make false and misleading entries in the books.

Frauds may deceiving investors and creditors.

Fraud Triangle has three components: pressure, opportunity, and rationalization.

Control environment, risk assessment, control activities, information and communication systems, and monitoring

Risk assessment, backup facilities, responsibility accounting, and natural laws

Legal environment of the firm, management philosophy, and organizational structure

Control environment, risk assessment and control activities

Organizational structure, management philosophy, and planning

Internal Control

Cash

Reasonable assurance

Operations objectives

Reporting objectives

Cash account is debited; sales revenue is credited.

Cash account is credited; sales revenue is debited.

Cash account is debited; sales revenue account is credited.

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

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

Risk assessment

Control activities

Control environment

Information and Communication

Monitoring activities

Cost Of The Gold Sold

Sales Revenue

Merchandise Inventory

Accounts Payable

Account Payable

Trick-fraud

Error-trick

Error- fraud

Fraud-Fallacy

Fraud-error

Trade discounts

The direct write-off method

Bad debt expense

Percentage of sales basis

Allowance for uncollectible accounts

Management regularly compares divisional performance with budgets for the division.

Hiring competent, reliable, and ethical personnel. 

Data processing management regularly generates exception reports for unusual transactions or volumes of transactions and follows up with investigation as to causes.

Management has asked internal auditing to perform regular audits of the controls over cash processing.

Data processing management regularly reconciles batch control totals for items processed with batch controls for items submitted.

Gross profit

Expanses

Purchases

Revenue

Sales

Accounts Receivable Turnover

Days to Collect Accounts Receivable

Total Assets Turnover

Working Capital Turnover

Inventory Turnover

Disclosure Principle

Consistency Principle

Materiality Concept

Conservatism Principle

Perpetual Inventory Principle

income statement

owner’s equity statement

statement of cash flows

balance sheet

financial transactions

Economic resources that are expected to benefit the business in the future.

Something owned by a business that has a ready market value.

An economic resource representing cash or the right to receive cash in the future.

Something with physical form that’s valued at cost in the accounting records.

The owner’s claims to the assets of the business. 

Investments

Owner,Capital

Owner's withdrawals

Revenues

Expenses

In Accounts Receivable, the company collects cash later than in Notes Receivable.

In Accounts Receivable, customers' promise for future payment is held.

Accounts Receivable is more based on future rental payments than Notes Receivable.

In Notes Receivable, the company collects cash for services it provided.

Notes Receivable is more formal than Accounts Receivable.

Adjusting entries do not debit or credit cash.

Adjusting entries update the accounts.

Adjusting entries are necessary every time financial statements are prepared.

Adjusting entries are needed to measure the period’s net income or net loss.

All of the above

Credits-debit balance

Debiting-credit balance

Debiting-debit balance

Credits-credit balance

Debiting-credits

Revenue

Profit

Loss

Liability

Expense