Deneme Sınavı Soruları

1. Businesses can keep their important amount of cash in a bank instead of keeping on hand.
2. It is a way of protecting cash from possible thefts.
3. It requires approval from both the business and the bank

Which of the statements above is true for using bank accounts as a control device?

What is "Lower of Cost or Market Value Method (LCM)"?

An adequate system of internal controls is most likely to detect a fraud perpetrated by a   ............

Which of the following is the last step of the first round of operating cycle for a merchandising company?

I. Accounts receivables

II. Notes receivables

III. Other receivables

Which of the above is/are takes place in the main categories of receivables?

Suppose that credit terms of Purchase of Inventory on May 13 from ABC Company is 3/15; n/30. The purchase amount is 3500. Let’s assume that XYZ Company made payment on May 25. Which of the following is the debt amount of XYZ Company?

Operating cycle begins with the.............. and ends with ........................

Please choose the right answer which fulfills the blanks correctly. 

How sales discounts should appear in the financial statements?

I. When the companies purchase merchandise inventory to resell, it is an expenditure.

II. All expenditures that the companies incur until the goods become ready to be sold are included in the cost of merchandise inventory.

III. When the goods are sold, the cost in balance sheet is transferred to income statement as an expense.

Which of the statements above about cost flow for merchandising companies is/are correct?

1. The objectives can be categorized into four groups.
2. Reporting objectives are about the reliability of reports.
3. Operation objective state the efficiency and effectiveness of the business’ activities.

An internal control should design and implement to achieve some objectives. Which of the statements above are true about these objectives?

Which of the followings measures the liquidity of accounts receivable and is calculated as net credit sales divided by net accounts receivable?

"Accrued expenses are............"

Star Inc., has 200.000 TL in revenues, 25.000 in expenses. According to this information, Star Inc. which of the following is the change in stockholders’ equity?

Which of the following assumes that expense is recognized before the cash is paid?

Which of the following includes the assets that will be converted into cash, sold, consumed or received within 12 months?

Which of the following is the cost of an asset, or other amount substituted for cost, less  its residual value?

Which of the following is an owner's equity account?

Which of the following is not included in categories of adjusting entires?