2018–2019 Vize (Ara Sınav) Çıkmış Soruları

SON Co. spent 7,500,000 TL for the development of new magnetic field traction system. How will the company record this transaction? A) Records as fixed asset B) Records as franchise C) Records as research and development cost D) Records as goodwill E) Records as amortization expense

Which of the following is the required entry for a company to recognize a contingent liability in its financial statement? A) Debit Expenses from Other Ordinary Activities; credit Contingent Liability B) Debit Allowance Expense; credit Net Income C) Debit General and Administration Expense; credit Contingent Liability D) Debit Expenses from Other Ordinary Activities; credit Retained Earnings of. E) Debit Contingent Liabilities; credit relevant items (cash, bank etc.)

SFR Co. purchased a machine for 725,000 TL and paid 15,000 TL for transportation. SFR Co. estimates to use the machine for 4 years and at the end of its useful life it can be sold for 125,000 TL. SFR Co. will apply straight-line depreciation method for the machine. What is the depreciable cost of the machine? A) 850,000 B) 835,000 C) 615,000 D) 600,000 E) 585,000

I. VAT is a part of revenue for companies. Il. When a good is purchased, VAT is separately, recorded as VAT paid. III. If the received amount of VAT by companies exceeds the paid amount, VAT Payable is recorded at the end of year. Which of the above represented statements about Value Added Tax (VAT) is/are true? A) Only I| B) Only III •neg C) land li D) I and III E) I| and I|l

Road B. Co. sells various kinds and brands of laptop computers. The company purchased 25 laptop computers to use in the office and for reselling. Road B. Co. will use 7 of the computers in the office and will sell remaining 18 of them. How will the company report the 7 computers in the balance sheet? A) As a merchandise inventory B) As an equipment C) As cost of the goods sold D)E Asa long term receivable E) As a period expense

LMN Co. made an expenditure of 10,000 TL that has increased the useful life of the machine. will the company recognize this expenditure? A) Decreases the cost of the machine B) Recognizes as a current asset C) Recognizes as a period expense D) Increases the cost of the machine • Increases the cost of merchandise inventory

Derivatives should be recognized at - in the balance sheet; and, any decrease in price should be recognized as --. Wich of the following completes the sentence above? A) Fair value - Loss from derivatives in income statement B) Fair value - Unrealized Holding Loss in equity C) Cost - Unrealized Holding Loss in equity D) Cost - No Change Recognized E) Future Value - Loss from Derivatives in income statement

How is the book value of a fixed asset calculated? A) Accumulated depreciation is added to the cost of the asset. B) Regular expenditures are added to the cost of the asset. C) It is always equal to the cost of the asset. D) Accumulated depreciation is subtracted from the cost of the asset. E) Improvement expenditures are added to the cost of the asset.

Which of the following ratios/ratio groups is used in assessing a company's ability to pay its short term liabilities? A) Debt Ratios B) Turnover Ratios Liquidity Ratios D) Operating Ratios E) Profitability Ratios

Which of the following does not arise a liability? A) Purchase of inventory on account B) The promise to purchase a dozen of notebooks next week C) Advanced collection of the amount before rendering of service D) Declaration of dividend distribution by company E) Accrued salaries to be paid in the following accounting period

Which of the following statements is false for natural resources? A) Natural resources are physically extracted in operations B) Natural resources are replaceable only by an act of nature C) Natural resources are reported as assets in the balance sheet D) Natural resources are internally developed intangible assets E) Natural resources are subjected to depletion

ARK Co. paid 1,200,000 TL to AA Co. in order to purchase the right of usage of AA Co.'s trademark "ELOG" for 5 years. Which of the following account will be debited for this transaction? A) Trademarks B) Franchises C) Leases D) Cash E) Patents

Which of the following represents the required accounting treatment for interest collection in case the bond was purchased at premium on issuance date? A) Debit Interest Expense, and Premium; Credit Cash B) Debit Discount; Credit Interest Revenue, and Cash C) Debit Cash, and Premium; Credit Interest Revenue D) Debit Cash, and Discount; Credit Interest Revenue E) Debit Cash; Credit Interest Revenue, and Premium

Which of the followings is true? A) If the outflow of future economic benefits is probable and amount can be measured reliably, however, the timing of payment is uncertain, liability is disclosed only in footnotes. B) If it is almost impossible (remote) that company will have outflow of future economic benefits, liability is disclosed only in footnotes. C) If the outflow of future economic benefits is probable, but the amount cannot be reliably measured, no liability is reported. D) If it is almost impossible (remote) that company will have outflow of future economic benefits, no liability is reported. E) If the outflow of future economic benefits is probable but the amount cannot be reliably measured, liability is recognized in financial statements.

In which accounting item and accounting group is the change in fair value for available for sale securities recognized? A) Profit / Loss from Equity Instruments - Income Statement B) Unrealized Holding Gains and Losses - Income Statement C) Revaluation on Equity Instruments - Income Statement D) Revaluation on Equity Instruments - Equity lof. E) Unrealized Holding Gains and Losses - Equity

How are natural resources reported in financial statements? A) Natural resources are reported in income statement B) Natural resources are reported in long-term assets C) Natural resources are reported in cash flow statement D) Natural resources are reported in merchandise inventory E) Natural resources are reported in long-term liabilities

The allocation of the cost of an intangible asset to its useful life is called as --. Wich of the following completes the sentence above? A) depreciation B) depletion C) amortization D) acquiring cost E) cost of the goods sold

The company purchased a land for 400,000 TL and paid 25,000 TL for land improvements. What will be the depreciation cost for the first year according to straight-line depreciation method? (Useful life is 4 years) A) 106,250 'S B) 100,000 orular. C) 93,750 D) 52,500 E) 6,250

Suburb Company owns 30 percent of Mazzart Corporation. In the current year, Mazzart Corporation reported $700,000 net income and distributed 10 percent of it as dividend. How does Suburb Company report for dividends? A) Debit Cash by $70,000; Credit Affiliates by ₺70,000 B) Debit Cash by $21,000; Credit Affiliates by ₴21,000 C) Debit Affiliates by $21,000; Credit Dividends Revenue by $21,000 D) Debit Affiliates by $70,000; Credit Dividends Revenue by $70,000 E) Debit Cash by $21,000; Credit Dividends Revenue by $21,000

How is a bond called if the return rate of it offers is lower than the interest rates in the market? A) The bond is sold at discount B) The bond is sold at maturity C) The bond is sold at profit rul D) The bond is sold at premium E) The bond is sold at par