Ünite Sınavı Soruları

Which of the following is the allocation of long-term asset’s cost to expense over its useful life?

1. Driveways
2. Parking lots
3. Fences
4. Landscaping
5. Underground sprinklers
6. The cost of clearing the land and removing unwanted buildings

Which of the above are not included in the cost of the land?

________ is the amount that the company will receive when an asset is sold at the end of its useful life.

Which of the following terms completes the sentence above?

Which of the following assets groups includes fencing?

1. They are acquired for use in operations and not for resale.
2. They are in short-term in nature and usually depreciated.
3. They possess physical substance.
4. They are not intended for sale to customers.
5. They are economic resources that have physical substance (tangible)

Which of the statements above in terms of property, plant and equipment assets are correct?

Which of the following is not true about property, plant and equipment assets?

Assume that ABC Co. purchased a building to use for managerial purposes for 3,450,000 TL and also paid title deed fees for 125,000 TL. Which of the following is true for the amount of building account after the purchase?

Which of the following is NOT considered a Non-current assets? 

1. The ordinary repairs are called revenue expenditures (income statement expenditures).
2. Revenue expenditures are debited to an asset account because they increase the asset’s capacity or efficiency or extend the asset’s useful life.
3. A capital expenditure (balance sheet expenditure) does not increase the capacity or efficiency of an asset or extend its useful life and is reported on the income statement as an expense in the period incurred.
4. A capital expenditure is reported on the balance sheet as an asset.

Which of the statements above in terms of revenue expenditures and capital expenditure are correct?

Which of the following is the cash or cash equivalent price of obtaining the asset plus all necessary taxes, purchase commissions and all other amounts paid to ready the asset for its intended use?

1. The assets that can be converted into cash, sold, collected and consumed within one year or operation cycle which is shorter
2. The assets that will be used in operations for more than a year.
3. Receivables that have due dates of more than one year
4. A factory building rented to use in the operations

Which of the above can be recognized as non-current assets?

Why would a business select an accelerated method of depreciation for tax purposes?

Which of the following items should be depreciated?

1. Company A purchases a basic furnace for 150,000 TL.
2. Company B makes an expenditure for 25,000 TL for the machine in order to increase the production capacity of the machine.
3. Company C pays 5,000 TL for the annual maintenance of the machine.
4. To shorten the distance between suppliers, Company D decides to move the factory to Organized Industrial Zone and pays 150,000 TL for disassembling and reassembling of the machines and 100.000 TL. for the transportation.

Which company/companies above can include expenditures in the cost of machinery and equipment?

Which one of the type of disposal are NOT one of the four steps?

1. The cost of the long-lived asset
2. The estimated residual value of the longlived asset
3. The estimated useful life of the long-lived asset

Which of the elements mentioned above is/are must be known in order to measure the depreciation?

Which of the following means recording the expenditure as an asset?

Which of the following characteristics is not true for property, plant and equipment assets?

ABC Co. purchases a machinery on January 1, 2018 for 280,000 TL. ABC Co. also pays 20,000 TL for transportation and insurance during transportation. ABC Co. estimates to use the machine for 5 years and at the end of it useful life it is estimated to be sold at 45,000 TL. Company will apply double-declining balance depreciation method for the machinery. What will be the depreciation expense recorded for the year ending 31.12.2019?