Deneme Sınavı Soruları

Expenses

Operating income

Gross profit

Balance sheet

Cost of goods sold

the trade name of the drawee bank

the name, surname or trade name of the owner of the check

the total number of the banks in which the owner of the check has check account

the number and amount of checks paid within the last ten years

the date of presentation for the last check paid

Bad debt expense

Cash discounts

Sales returns and allowances

Cash (net) realizable value

Valuation of Accounts Receivables

Perpetual inventory system inventory accounts do not provide information on inventory whenever needed.

The first transaction in the sales transaction in the perpetual inventory system is record the amount of revenue and increase either in cash or in receivables. 

Transportation costs are recorded as “delivery expense” if the shipment is FOB destination. 

In FOB shipment point, the seller has no responsibility related to transportation. 

The second transaction in the sales transaction in the perpetual inventory system is record the amount of COGS and decrease in inventory.

Only I

I and II

II and III

I and III

I, II and III

Periodic Inventory

Specific Identification Method

First-In, First-Out (FIFO) Method

Average Cost Method

Inventory Cost Flow method

By adding Cost of Goods Sold and Average Merchandise Inventory

By multiplying Cost of Goods Sold and Average Merchandise Inventory

By dividing Cost of Goods Sold by Average Merchandise Inventory

By adding Beginning Merchandise Inventory and Ending Merchandise Inventory, and dividing them by two

By adding Beginning Merchandise Inventory and Ending Merchandise Inventory

periodical

continual

interval

annaul

quarterly

Sales returns and allowances

Allowance method

Honor of notes receivable

Factoring

Promissory note 

Elimination of employee fraud.

Reduced cost of an external audit.

Some assurance of compliance with governmental regulations.

Improvement in the reliability and integrity of information for decision-making purposes.

Reasonable assurance regarding the achievement of objectives relating to operations. 

Disclosure Principle

Consistency Principle

Materiality Concept

Conservatism

Perpetual Inventory System

Cash

Factoring

Internal control

Income statement

Bank account

Inventory Cost Flow

Periodic Inventory System

Materiality Concept

Perpetual Inventory System

Conservatism

Ledger side

Foot side

Credit side

Debit side

Chart side

Trial balance

Balance sheet

İncome statement

Cash flow statement

Adjusted trial balance

The post-closing trial balance contains only revenue accounts.

The post-closing trial balance contains only expense accounts.

The post-closing trial balance contains no revenue, expense, gain, loss, or summary account balances, since these temporary accounts have already been closed and their balances moved into the retained earnings account as part of the closing process.

The post-closing trial balance contains only income summary.

The post-closing trial balance contains only liabilities and Capital accounts and assets.

Deferred (Prepaid) Expenses

Deferred (Unearned) Revenues 

Accrued Assets

Accrued Expenses 

Accrued Revenues

Straight-Line Depreciation Method

Double Declining Balance Depreciation Method

Units of Production Depreciation Method

Sum-of-the-Years-Digits Depreciation Method

Single Declining Balance Depreciation Method

Assets = Liabilities + Owner’s Equity

Liabilities = Assets + Owner’s Equity

Owner’s Equity = Liabilities + Assets 

Owner’s Equity = Liabilities - Assets 

Assets = Liabilities - Owner’s Equity

Customers

Suppliers

Firm owners

Creditors

Employees