Ünite Sınavı Soruları

Which of the following is the definition of "perpetual inventory system"?

According to Conservatism which of the following  idea is not correct? 

What is the name of asset items that a company holds for sale in the ordinary course of business, or items that will be used or consumed in the production of goods to be sold?

Which method is based on the specific cost of particular units of inventory?

A company must perform strictly proper accounting only for items that are significant
to the business’s financial situation according to the ............... concept requirements.

which of the following terms fills the blank correctly?

A business’s financial statements must report enough information for outsiders to make
knowledgeable decisions about the company because of the......................................................rules.

Which should come to the dotted place according to the continuation of the sentence?

"It measures the number days that inventory is held by a company." Which option is described above?

................................ method an inventory costing method in which the first costs into inventory are the first costs out to cost of goods sold. Ending inventory is based on the costs of the most recent purchases.

Which of the following choices fills the blank correctly?

A company must perform strictly proper accounting only for items that are significant
to the business’s financial situation according to......................................... requirements.

Which of the following should come to space according to the sentence?

Which of the followings allocates the cost of goods available for sale on the basis of the weighted average unit cost incurred?

Which if the following is true for "Inventory Turnover Ratio"?

I. Anticipate gains, and provide for all probable losses.

II. When there is a question, record an expense rather than an asset.

III.When you are faced with a decision, you must choose the option that
undervalues, rather than overvalues, your business.

Which one/ones above is/are correct about the ideas that conservatism follows?

In which method does the company know exactly which item was sold and exactly what the item cost? 

I.Last-in, First-out (LIFO) is just the opposite of FIFO

II.The cost of goods sold is based on the most recent purchases

III.This method is also used in hyperinflationary economies

Which one/ones is/are correct about Last-In, First-Out (LIFO) Method?

Perpetual inventory system tracks and records  inventory and costs of goods sold on a/an  _________ basis.

Which of the following completes the sentence above?

Which principle holds the idea that companies should use the same accounting methods and procedures in each accounting period?

According to which method, does ending inventory come from the oldest costs (beginning inventory and earliest purchases) of the period?

Which of the followings is a valuation method which requires inventory to be reported in financial statements at whichever is lower – its historical cost or its market value.

A business should report the least favorable figures in the financial statements when
two or more possible options are presented according to the ..................... concept
requirements.

Which of the following statements  fills the blank correctly?