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22秋学期(高起本1709-1803、全层次1809-2103)《会计专业英语》在线作业-00001

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22秋学期(高起本1709-1803、全层次1809-2103)《会计专业英语》在线作业-00001


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1.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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2.The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as a month or year, is called a(n)
A.income statement
B.income statement
C.prior period statement
D.statement of owner's equity
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3.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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4.The business entity concept means that
A.the owner is part of the business entity
B.an entity is organized according to state or federal statutes
C.an entity is organized according to the rules set by the FASB
D.the entity is an individual economic unit for which data are recorded, analyzed, and reported
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5.Debts owed by a business are referred to as( )
A.accounts receivables
B.equities
C.owner’s equity
D.liabilities
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6.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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7.Notes may be issued ( )
A.when assets are purchased
B.to creditor's to temporarily satisfy an account payable created earlier
C.when borrowing money
D.all of the above
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8.The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner’s equity should equal
A.$212,000
B.$44,000
C.$128,000
D.$84,000
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9.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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10.Deferred revenue is revenue that is
A.earned and the cash has been received
B.earned but the cash has not been received
C.not earned and the cash has not been received
D.not earned but the cash has been received
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11.A characteristic of a fixed asset is that it is ( )
A.intangible
B.used in the operations of a business
C.held for sale in the ordinary course of the business
D.none of the above
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12.Current liabilities are( )
A.due, but not receivable for more than one year
B.due, but not payable for more than one year
C.due and receivable within one year
D.due and payable within one year
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13.If the two totals of a trial balance are not equal, it could be due to
A.an error in determining the account balances, such as a balance being incorrectly computed
B.recording the same transaction more than once
C.failure to record a transaction
D.recording the same erroneous amount for both the debit and the credit parts of a transaction
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14.Revenue should be recognized when( )
A.cash is received
B.the service is performed
C.the customer places an order
D.the customer charges an order
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15.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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16.What is the type of account and normal balance of Allowance for Doubtful Accounts?
A.Contra asset, credit
B.Asset, debit
C.Asset, credit
D.Contra asset, debit
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17.If the maker of a promissory note fails to pay the note on the due date, the note is said to be( )
A.displaced
B.disallowed
C.dishonored
D.dishonored
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18.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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19.For accounting purposes, the business entity should be considered separate from its owners if the entity is( )
A.a corporation
B.a proprietorship
C.a partnership
D.all of the above
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20.The term "inventory" indicates ( )
A.merchandise held for sale in the normal course of business
B.materials in the process of production or held for production
C.supplies
D.both A and B
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1.When a stock dividend is declared, it becomes a liability
A.错误
B.正确
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2.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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3.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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4.The double-entry accounting system records each transaction twice.
T.对
F.错
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5.Treasury Stock is listed in the stockholders' equity section on the balance sheet.
A.错误
B.正确
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6.The declaration of a stock dividend decreases a corporation's stockholders' equity and increases its liabilities.
T.对
F.错
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7.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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8.Primary users of accounting information are accountants.
T.对
F.错
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9.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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10.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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11.An income statement is a summary of the revenues and expenses of a business as of a specific date.
T.对
F.错
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12.An account receivable is a claim against a customer arising from a sale on account.
T.对
F.错
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13.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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14.Ordinarily, a corporation owning a significant portion of the voting stock of another corporation accounts for the investment using the equity method.
A.错误
B.正确
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15.The accounting equation can be expressed as Assets - Liabilities = Owner's Equity.
T.对
F.错
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16.An account receivable is a claim against a customer arising from a sale on account.
A.错误
B.正确
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17.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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18.Under the cash basis for the accounting period concept, revenues and expenses are reported in the income statement in the period in which cash is received or paid.
T.对
F.错
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19.Revenue accounts are increased by credits.
T.对
F.错
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20.A large retained earnings account means that there is cash available to pay dividends.
T.对
F.错
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21.Accounting is a service that provides many different users with financial information to make economic decisions.
T.对
F.错
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22.If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.
T.对
F.错
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23.The day on which the board of directors of the corporation distributes a dividend is called the declaration date.
T.对
F.错
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24.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.
T.对
F.错
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25.Bonds are sold at face value when the contract rate is equal to the market rate of interest.
A.错误
B.正确
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26.A business using the perpetual inventory system, with its detailed subsidiary records, does not need to take a physical inventory.
A.错误
B.正确
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27.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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28.When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.
T.对
F.错
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29.Any difference between the fair market values of the securities and their cost is a realized gain or loss.
A.错误
B.正确
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30.Under the periodic inventory system, the cost of merchandise sold is recorded when sales are made.
T.对
F.错
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