Deneme Sınavı Soruları

Service companies

Manufacturing companies

Merchandising companies

Stock companies

Limited companies

Only I

Only II

I and II

II and III

I, II and III

Account receivables may result from the sale of inventories.

Cash is collected by collecting account receivables from customers.

Businesses buy inventory in cash.

İnventories are sold to customers, either in cash or on account.

The operating cycle starts with the sell of inventories from a producer. 

It is the other key ratio used by the management of a company to measure
average number of days that merchandise inventory is held by the company

It measures the number of times a company sells average level of merchandise inventory during a period.

It measures the number days that inventory is held by a company.

It is a method used in the calculation of the market value of work-inprocess inventory in manufacturing companies.

It is a method used in the calculation of the amount of work force required for production

Only I

Only II

I and II

II and III

I, II and III

Accounts receivable

Cash (net) realizable value

Bad debt expense

Percent-of-Sales

Payee

First-In, First-Out (FIFO) Method

Last-In, First-Out (LIFO) Method

Average Cost Method

Specific Identification Method

Consistency Principle

Petty cash fund

Cash Ratio

Reporting Cash

Bank Reconciliation

Bank statement

Only I

I and II

II and III

I and III

I, II and III

You can find annual rate of interest easier.

You can find more equal interest rate.

The note holder can receive more interest.

Principal can be followed more accurately.

The calculation time can be lessen.

reports the cost of goods, materials and other components of manufacturing
process used for the inventory which are still in production process

reports the cost of goods and materials on hand to be used in production.

reports the cost of goods, materials and other components of manufacturing
process used for the inventory produced and available for sale.

reports the cost of goods, materials and other components of manufacturing
process which have already finished

reports goods which are not used in the services of companies providing facilities as inventories or stocks 

To record their purchases of inventories and there is no record for Cost of Goods Sold (COGS) until the end of accounting period.

To have continuous control over inventories.

To evaluate the company’s profitability in terms of selling activities.

To provide written evidence of the transaction.

To make the inventory ready for sale.

Costs of goods sold

Sales revenue

Expenses

Gross profit

Income before tax

Service Revenue has a debit balance.

Account payable has a credit balance.

Salary Expense has a debit balance.

Supplies has has a debit balance.

Account Receivables has debit a balance. 

Matching principle

Revenue recognition principle

Liquidity

Adjusting process

Accrual basis accounting

Straight-line depreciation

Non-current asset

Current asset

Book value

Fair value

Revenue use up assets or create liabilities in the course of operating a business.

Revenue is the amounts taken out of the business by the owner appear in a separate account titled Withdrawals or Drawling.

It is known an account which represents the net contribution of the owner in the business.

Revenue is an accrued accounting that is a special form of liability for an expense you have not yet paid.

The increase in owner’s equity created by delivering goods or services to customers is called revenue.

Accrued expense

Deferred expense

Accrued revenue

Deferred revenue

Time-period concept

assets

liabilities

owner's equity

cash

transaction

I, II, III

III, IV, V

II, IV, V

I, III, V

II, III, V