23春学期（仅限-高起专1903、专升本1903）《会计专业英语》在线作业-00003


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1.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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2.If preferred stock has dividends in arrears, the preferred stock must be ( )
A.participating
B.callable
C.cumulative
D.convertible
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3.How does paying a liability in cash affect the accounting equation?
A.assets increase; liabilities decrease
B.assets increase; liabilities increase
C.assets decrease; liabilities decrease
D.liabilities decrease; owner's equity increases
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4.Cash dividends are usually not paid on which of the following?
A.class B common stock
B.preferred stock
C.treasury stock
D.class A common stock
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5.Cash dividends are usually not paid on which of the following?
A.class B common stock
B.preferred stock
C.treasury stock
D.class A common stock
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6.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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7.Using accrual accounting, expenses are recorded and reported only（ ）
A.when they are incurred, whether or not cash is paid
B.when they are incurred and paid at the same time
C.if they are paid before they are incurred
D.if they are paid after they are incurred
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8.Which of the items below is not a business organization form?( )
A.entrepreneurship
B.proprietorship
C.partnership
D.corporation
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9.The interest rate specified in the bond indenture is called the ( )
A.discount rate
B.contract rate
C.market rate
D.effective rate
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10.The amount of the outstanding checks is included on the bank reconciliation as a(n) （ ）
A.deduction from the balance per depositor's records
B.addition to the balance per bank statement
C.deduction from the balance per bank statement
D.addition to the balance per depositor's records
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11.Profit is the difference between
A.assets and liabilities
B.the incoming cash and outgoing cash
C.he assets purchased with cash contributed by the owner and the cash spent to operate the business
D.the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services
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12.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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13.Using accrual accounting, expenses are recorded and reported only( )
A.when they are incurred, whether or not cash is paid
B.when they are incurred and paid at the same time
C.if they are paid before they are incurred
D.if they are paid after they are incurred
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14.The two most common specialized fields of accounting in practice are( )
A.forensic accounting and financial accounting
B.managerial accounting and financial accounting
C.managerial accounting and environmental accounting
D.financial accounting and tax accounting systems
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15.All of the following below are needed for the calculation of depreciation except( )
A.cost
B.residual value
C.estimated life
D.book value
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16.A bank reconciliation should be prepared periodically because ( )
A.the depositor's records and the bank's records are in agreement
B.the bank has not recorded all of its transactions
C.any differences between the depositor's records and the bank's records should be determined, and any errors made by either party should be discovered and corrected
D.the bank must make sure that its records are correct
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17.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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18.If the allowance method of accounting for uncollectible receivables is used, what general ledger account is credited to write off a customer's account as uncollectible?
A.Uncollectible Accounts Expense
B.Accounts Receivable
C.Allowance for Doubtful Accounts
D.Interest Expense
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19.Which statement below is not a reason for a corporation to buy back its own stock.
A.resale to employees
B.bonus to employees
C.for supporting the market price of the stock
D.to increase the shares outstanding
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20.Stockholders' equity ( )
A.is usually equal to cash on hand
B.includes paid-in capital and liabilities
C.includes retained earnings and paid-in capital
D.is shown on the income statement
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1.In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement.
T.对
F.错
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2.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
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3.Purchasing supplies on account increases liabilities and decreases equity.
T.对
F.错
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4.The accounting equation can be expressed as Assets - Liabilities = Owner's Equity.
T.对
F.错
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5.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:false

6.An account receivable is a claim against a customer arising from a sale on account.
T.对
F.错
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7.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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8.A sale of treasury stock may result in a decrease in paid-in-capital. All decreases should be charged to the Paid-In-Capital from Sale of Treasury account.
T.对
F.错
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9.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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10.When common stock is issued in exchange for land, the land should be recorded in the accounts at the par amount of the stock issued.
T.对
F.错
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11.Accrued expenses are expenses that have been incurred but not yet paid in cash and there is no original entry.
T.对
F.错
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12.When common stock is issued in exchange for land, the land should be recorded in the accounts at the par amount of the stock issued.
A.错误
B.正确
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13.Allowance for Doubtful Accounts is a liability account.
A.错误
B.正确
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14.An account receivable is typically classified as a revenue.
T.对
F.错
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15.Liabilities that will be due within one year or less and that are to be paid out of current assets are called current liabilities.
T.对
F.错
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16.Primary users of accounting information are accountants.
A.错误
B.正确
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17.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
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18.In preparing bank reconciliation, the amount of outstanding checks is added to the balance per bank statement.
T.对
F.错
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19.If bonds are sold for a discount, the carrying value of the bonds is equal to the face value less the unamortized discount.
A.错误
B.正确
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20.When the market rate of interest is less than the contract rate for a bond, the bond will sell for a premium.
A.错误
B.正确
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21.The book value of a fixed asset reported on the balance sheet represents its market value on that date.
A.错误
B.正确
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22.The matching concept supports reporting revenues and related expenses in the same period.
T.对
F.错
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23.The allowance for doubtful accounts is similar to accumulated depreciation in that the account represents the total of all accounts written-off since the beginning year.
A.错误
B.正确
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24.Income is recognized when an increase in future benefits related to an increase in an asset of a decrease of a liability has arisen that can be measured reliably.
A.错误
B.正确
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25.When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.
T.对
F.错
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26.The declaration of a stock dividend decreases a corporation's stockholders' equity and increases its liabilities.
T.对
F.错
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27.In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement.
A.错误
B.正确
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28.If bonds are sold for a discount, the carrying value of the bonds is equal to the face value less the unamortized discount.
T.对
F.错
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29.The order of the flow of accounting data is (1) record in the ledger, (2) record in the journal, (3) prepare the financial statements.
T.对
F.错
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30.The normal balance of the accumulated depreciation account is debit.
T.对
F.错
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