Ünite Sınavı Soruları

Which of the following is the ending step in the accounting cycle?

The company pays .......................  either with cash of by handling goods or services within one year or in an operating cycle.

If the company has a profit at the end of the period, To which of the following, the credit balance of the Income Summary account is transferred?

A company has raw materials  which  will be consumed within 10 months. In which section of the balance sheet should the company report this?

................is the financial statement that reports operation results of a business for a specific period of time.

Which of the following is the measure of how quickly and easily an account can be converted into cash

What is the order of preparation for financial statements?

..................... reports each asset, liability and owner’s equity in five specific sections.

Which of the following is not true for closing entries?

From the perspective of liquidity, non-current assets’ convertibility into cash must be over how many months?

Which of the following is defined as tansferring the balances of the revenue and expense accounts to Income summary account, and transferring Income Summary account’s balance to Capital account?

Which of the following is the financial statement that reports the changes in the capital throughout the period caused by the owner’s capital investments or withdrawals, net profit or loss.

Revenues and expenses are reported in the ...............; assets, liabilities and owner’s equity are reported in the .................

I. The assets

II. Liabilities

III. The changes in the capital throughout a period 

IV. The owner's equity in a specific date

Which of the things above does the balance sheet report?

Which of the following is NOT one of the steps in the during the period activities of the accounting cycle?

You see the closing entry of Company A. If the service revenue is 9,500,49, which of the following figures should go in the Income Statement Debit Column?

In which of the following revenues and expenses are reported?

Which of the following is not one of the characteristics of information given in financial statements?

Which of the following is an example of non current assets?

Which one of the following is the starting point for the preparation of the financial statement?