Ünite Sınavı Soruları

A company receives an advanced payment from a customer, but the company has not delivered the service yet for which the payment is received. In this situation, how sill the company record this? 

When a company receives an advanced payment, how must the company record this  liability in its financial statements?

"............ is defined as the present obligation of a company arising from past events and fulfillment of which causes the outflow of economic benefits in terms of payments of cash, transfer of assets or rendering of services."

Which of the following best describes the space left blank in the above sentence?

I. They occur because of a past transaction or event
II. They create a present obligation for future payment of cash or services
III. They are an unavoidable obligation

Which of the above is/are takes place in the main characteristics of liabilities?

........................ requires the recognition of expenses in the period in which they incur to generate revenues. 

Which of the following Generally Accepted Accounting Principles should be replaced in the space left above?

Which of the following is true about liabilities?

Provisions for employee benefits (severance allowance), provisions for warranties, and restructuring provisions are examples for _______.

What represents the relationships between financial statement items to make it possible to assess the financial position and performance of companies?

"............ represent the existing obligations whose fulfillment are expected to result in outflow of economic benefits in the following fiscal year"

Which of the following best describes the space left blank in the above sentence?

Which of the following occurs when a company records accrued interest on a note payable? 

If a present obligation exists but the amount to settle the obligation cannot be estimated reliably, what is this obligation called?

Which of the following is not a current liabilities account?

I. They occur because of present transaction or event.

II. They create a present obligation for future payment of cash or services.

III.They are an unavoidable obligation.

Which of the statement above are among the main characteristics of liabilities?

Which of the following can be defined as liabilities for unpaid expenses?

I. Liabilities occur because of a past transaction or event.

II. Liabilities create a present obligation for future payment of cash or services.

III. Liabilities are are avoidable obligations.

Which of the followings are among the basic characteristics of liabilities?

________ are debts incurred in the normal course of a business, resulting from acquisition of inventories and supplies.

Which of the following completes the sentence above?

Which of the following is a liability created when a company receives cash for services to be provided in the future?

Which of the following is an amount for products or services purchased on account?