Ünite Sınavı Soruları

Which one is the equation of "Purchase cost inventory – Purchase returns and allowances – Purchase discounts + Freight in"

Which one is called merchandise on hand (not sold)?

If two parties agree on the shipment as FOB shipping point, transportation is the buyer’s responsibility. It is also called _____ . 

Which of the following best completes the statement above?

Anadolu Company purchased 60 units of piano from Melody Company on cash. Price of a piano is 12.000 TL. Which of the following is true about the Anadolu company's entry?

Which one of the following is recorded on the top of income statement?

When this merchandise inventory is sold, the revenue is reported as sales revenue, and its cost is recognized as an expense. Which of the following term defines this expense?

Which of the following is incorrect information about the perpetual inventory system?

Which of the following is the starting transaction in the operating cycle of a merchandising company starts with

ABC Company bought 5000 glasses in August 10 on account.Price of a glass is 3 TL. When they received the glasses, the quality checks detected 50 glasses with scratches on them. Therefore, on Augut 20, ABC Company returned these 50 glasses and demanded refunding. Which of the following is true for this refunding transaction?

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?

A company merchandise inventory account showed a balance of 7.000 before the year end adjustments. The physical count of goods on hand totaled 6.300. To adjust the accounts, which of the following is true about the company registration?

The beginning inventory of a company using periodic inventory system is 300.000 lira. Total purchases cost 150.000 lira and the company has an ending inventory amount of 100.000. Which of the following is the amount of cost of goods sold for this company?

Which of the following is true according to the “matching principle” ?

_____ exists when sellers allow purchasers to return merchandise that is defective, damaged, or under-performing. 

Which of the following best complete the statement above?

Which one of the following is a sevice company?

In the closing process at first all revenues and expenses are closed to a pool account. Which one of the following is the name of this account?

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?

Where is the Purchased merchandise inventory is recorded at the time of purchase?

If the shipment type is FOB destination,which of the following party is responsible for the transportation?

If the merchandise inventory is sold, its cost is taken from inventory account in balance sheet and recognized as an _____ in the income statement.

Which of the following best completes the statement above?