Ünite Sınavı Soruları

Which of the following is not true about the economic entity assumption?

Which of the following terms refers to the present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow of the entity’s resources?

Which of the following is defined as "the humanly devised rules, procedures and norms to judge one’s action as right or wrong, honest or dishonest and fair or not fair" ?

…. is an information system which provides financial information about the entity for decision makers

Which basic activity of the accounting includes preparing financial reports?

Which of the following is not one of the factors which increase or decrease the level of owner’s equity?

_____ is a business owned and run by one person. They are often small type businesses (e.g. auto repair shops, used-books stores etc.). Usually a small amount of capital is needed and the owner is entitled to all profits.

Which option completes the sentence above best? 

................ are a set of principles companies follow when they prepare and publish their financial statements, providing a consistent way of describing the company’s financial performance.

Which of the following is identified above?

I. Recording the business transactions

II. Communicating of the financial transactions of an entity to interested users

III. Identifying business activities

IV. Growing sustainably to gain more benefits

Which of the given is among the basic activities of accounting?

I. Inversors

II. Creditors

III. Partners

Which of the above is/are the primary external users of accounting information?

I. Identifying

II. Recording

III. Analyzing

IV. Communicating

Which of the activities above are considered to be the basic activities of accounting?

Measurement refers the valuation of assets and liabilities in accounting process. Accounting Standards generally use one of two main principles in measurement. Those are  ….

Which of the following are TRUE about balance sheet?

I. It details the change in owner’s equity over an accounting period.

II. It reports the assets, liabilities, and owner’s equity of the business at a specific date.

III. It shows the change in cash position of the company over an accounting period. 

IV. It reports the revenues and expenses and resulting net income or loss.

Which of the below  states that assets are recorded at their cost?

Which of the following is the first step of accounting process?

Which of the following is internal users of accounting information?