MUHASEBE I
What is the meaning of “operation results” for a company?
Which of the following accounts will not be used until the end of the accounting period in periodic inventory system?
Account Titles and Short Explanation
Debit
Credit
April 18
Cash
600
Sales Revenue
600
………………
April 18
COGS
700
Merchandise Inventory
700
…………..
Which freight term is used when a seller company pays the transportation for the sold items?
How can be calculated the “net sales revenue”?
Which of the following accounting principles states that businesses should use the same accounting methods and procedures from period to period?
Which of the following Inventory Systems always provides real time balances of Inventory Account and the Cost of Goods Sold Account?
July 4
Purchase
84 units @ 30 TL
July 10
Sale
70 units @ 60 TL
July 20
Purchase
56 units @ 33 TL
July 29
Sale
50 units @ 60 TL
Which inventory costing method will be used if a company wants to pay less tax in hyperinflationary economies (suppose that none of the methods is forbidden)?
Which of the following statements about COSO framework is not true?
II. Fraudulent financial reporting is a fraud which is committed to make false and misleading entries in the books.
III. In misappropriation of assets the purpose of fraud may be making performance or financial status of the business appear to be better than they actually are.
IV. In fraudulent financial reporting employee
tries to cover the fraud up with an inaccurate entry or tries to steal the asset before recording process