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19秋学期(1709、1803、1809、1903、1909)《会计专业英语》在线作业

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19秋学期(1709、1803、1809、1903、1909)《会计专业英语》在线作业-0001


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1.Low Company owns 40% of the voting stock of High Corporation and uses the equity method in recording this investment. High Corporation reported a $10,000 net loss. Low Corporation's entry would include a ( )
A.Debit to the investment account for $10,000
B.Debit to the investment account for $4,000
C.Credit to the investment account for $4,000
D.Debit to a loss account for $4,000
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2.Expenses are reported on the( )
A.income statement
B.statement of owner's equity
C.statement of cash flows
D.balance sheet
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3.Financial reports are used by( )
A.management
B.creditors
C.investors
D.all of the above
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4.During a period of falling prices, which of the following inventory methods generally results in the lowest balance sheet amount for inventory. ( )
A.average method
B.LIFO method
C.FIFO method
D.can not tell without more information
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5.Which of the following financial statements reports information as of a specific date?
A.income statement
B.statement of owner's equity
C.statement of cash flows
D.balance sheet
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6.Financial statements in which financial data for two or more companies are combined as a single entity are called
A.conventional statements
B.consolidated statements
C.audited statements
D.constitutional statements
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7.The characteristics of partnership exclude( )
A.more financial resources than a proprietorship
B.additional management skills
C.limited liability
D.unlimited liability
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8.Which of the following below generally is the most useful in analyzing companies of different sizes?
A.comparative statements
B.common-sized financial statements
C.price-level accounting
D.audit report
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9.The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as ( )
A.solvency and leverage
B.solvency and profitability
C.solvency and liquidity
D.solvency and equity
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10.When the perpetual inventory system is used, the inventory sold is debited to ( )
A.supplies expense
B.cost of merchandise sold
C.merchandise inventory
D.sales
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11.The cost of a product warranty should be included as an expense in the ( )
A.period the cash is collected for a product sold on account
B.future period when the cost of repairing the product is paid
C.period of the sale of the product
D.future period when the product is repaired or replaced
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12.The price at which a stock can be sold depends upon a number of factors. Which statement below is not one of those factors?( )
A.the financial condition, earnings record, and dividend record of the corporation
B.investor expectations of the corporation's earning power
C.how high the par value
D.general business and economic conditions and prospects
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13.The account Unrealized Gain (Loss) on Available-For-Sale Securities should be included in the( )
A.Income statement as Other Revenue (Expenses)
B.Balance sheet as an adjustment to the asset account
C.Balance sheet as an adjustment to Stockholders' Equity
D.Statement of Retained Earnings
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14.Which of the items below is not a business organization form?( )
A.entrepreneurship
B.proprietorship
C.partnership
D.corporation
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15.Austin, Inc. made a Prepaid Rent payment of $3,500 on January 1st. The company’s monthly rent is $700. The amount of Prepaid Rent that would appear on the January 31 balance sheet after adjustment is:
A.$2,800
B.$700
C.$3,500
D.$1,750
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16.On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the ( )
A.Uncollectible accounts expense for the year
B.total of the accounts receivables written-off during the year
C.total estimated uncollectible accounts as of the end of the year
D.sum of all accounts that are past due.
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17.Which of the following should not be considered cash by an accountant?
A.coins
B.bank checking accounts
C.postage stamps
D.Petty cash funds
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18.Which of the following measures a company’s ability to pay its current liabilities?
A.earnings per share
B.inventory turnover
C.current ratio
D.number of times interest charges earned
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19.The cost of a product warranty should be included as an expense in the ( )
A.period the cash is collected for a product sold on account
B.future period when the cost of repairing the product is paid
C.period of the sale of the product
D.future period when the product is repaired or replaced
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20.A business paid $7,000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to
A.increase one asset, decrease another asset
B.decrease an asset, decrease a liability
C.increase an asset, increase a liability
D.increase an asset, increase owner's equity
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1.The increase side of all accounts is the normal balance.
A.错误
B.正确
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2.If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.
A.错误
B.正确
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3.Information is material if its omission or misstatement could influence the economic decisions of users.
A.错误
B.正确
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4.The investor carrying an investment by the equity method records cash dividends received as an increase in the carrying amount of the investment.
T.对
F.错
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5.The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense.
T.对
F.错
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6.The double-entry accounting system records each transaction twice.
A.错误
B.正确
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7.Sales Discounts is a revenue account with a credit balance.
T.对
F.错
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8.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.
T.对
F.错
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9.Even when a trial balance is in balance, there may be errors in the individual accounts.
T.对
F.错
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10.Intangible assets differ from property, plant and equipment assets in that they lack physical substance.
T.对
F.错
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11.Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.
A.错误
B.正确
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12.Bonds are sold at face value when the contract rate is equal to the market rate of interest.
T.对
F.错
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13.For a current liability to exist, the following two tests must be met. The liability must be due usually within a year and must be paid out of current assets.
A.错误
B.正确
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14.If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.
A.错误
B.正确
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15.Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.
T.对
F.错
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16.The matching concept supports reporting revenues and related expenses in the same period.
T.对
F.错
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17.Accounting is a service that provides many different users with financial information to make economic decisions.
T.对
F.错
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18.Dividends in arrears are liabilities of the corporation.
A.错误
B.正确
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19.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.
A.错误
B.正确
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20.The main reason that the bank statement cash balance and the depositor's cash balance do not initially balance is due to timing differences.
A.错误
B.正确
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21.Investments in stocks that are expected to be held for the long term are listed in the stockholder's equity section of the balance sheet.
A.错误
B.正确
正确答案:A

22.When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.
T.对
F.错
正确答案:T

23.If a firm has a quick ratio of 1, the subsequent payment of an account payable will cause the ratio to increase.
A.错误
B.正确
正确答案:A

24.Managerial accounting is primarily concerned with the recording and reporting of economic data and activities of an entity for use by owners, creditors, governmental agencies, and the public.
A.错误
B.正确
正确答案:A

25.In establishing a petty cash fund, a check is written for the amount of the fund and is recorded as a debit to Accounts Payable and a credit to Petty Cash.
T.对
F.错
正确答案:F

26.If a firm has a quick ratio of 1, the subsequent payment of an account payable will cause the ratio to increase.
T.对
F.错
正确答案:F

27.A business using the perpetual inventory system, with its detailed subsidiary records, does not need to take a physical inventory.
T.对
F.错
正确答案:F

28.When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.
A.错误
B.正确
正确答案:B

29.If the proceeds from the sale of bond investments exceeds the carrying amount of the bonds, a gain is realized.
T.对
F.错
正确答案:T

30.When the market rate of interest is less than the contract rate for a bond, the bond will sell for a premium.
T.对
F.错
正确答案:T