南开15春《会计专业英语》在线作业答案
南开15春学期《会计专业英语》在线作业一、单选题：
1.A capital expenditure results in a debit to ( ) (满分:2)
A. an expense account
B. a capital account
C. a liability account
D. an asset account
2.The debt created by a business when it makes a purchase on account is referred to as an (满分:2)
A. account payable
B. account receivable
C. asset D. expense payable
3.When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are (满分:2)
A. convertible bonds B. unsecured bonds
C. debenture bonds D. callable bonds
4.Which of the items below is not a business organization form?( ) (满分:2)
A. entrepreneurship
B. proprietorship
C. partnership
D. corporation
5.Cash investments made by the owner to the business are reported on the statement of cash flows in the (满分:2)
A. financing activities section
B. investing activities section
C. operating activities section
D. supplemental statement
6.Current liabilities are( ) (满分:2)
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
7.The measurement bases exclude( ) (满分:2)
A. Historical cost
B. Current cost
C. Sale price
D. Present value
8.A bank reconciliation should be prepared periodically because ( ) (满分:2)
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
9.Which statement below is not a reason for a corporation to buy back its own stock. (满分:2)
A. resale to employees
B. bonus to employees
C. for supporting the market price of the stock
D. to increase the shares outstanding
10.On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the ( ) (满分:2)
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.
11.Cash dividends are usually not paid on which of the following? (满分:2)
A. class B common stock
B. preferred stock
C. treasury stock
D. class A common stock
12.The primary purpose of a stock split is to ( ) (满分:2)
A. increase paid-in capital
B. reduce the market price of the stock per share
C. increase the market price of the stock per share
D. increase retained earnings
13.When the perpetual inventory system is used, the inventory sold is debited to( ) (满分:2)
A. supplies expense
B. cost of merchandise sold
C. merchandise inventory
D. sales
14.The two most common specialized fields of accounting in practice are( ) (满分:2)
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
15.The cost of a product warranty should be included as an expense in the ( ) (满分:2)
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
16.What is the type of account and normal balance of Allowance for Doubtful Accounts? (满分:2)
A. Contra asset
credit
B. Asset
debit
C. Asset
credit
D. Contra asset
debit
17.The inventory method that assigns the most recent costs to cost of good sold is (满分:2)
A. FIFO
B. LIFO
C. average
D. specific identification
18.Sinking Fund Cash would be classified on the balance sheet as ( ) (满分:2)
A. a current asset
B. a fixed asset
C. an intangible asset
D. an investment
19.Revenue should be recognized when( ) (满分:2)
A. cash is received
B. the service is performed
C. the customer places an order
D. the customer charges an order
20.For accounting purposes, the business entity should be considered separate from its owners if the entity is( ) (满分:2)
A. a corporation
B. a proprietorship
C. a partnership
D. all of the above
三、判断题：
1.Overall objective of financial reporting is to provide financial information useful to internal users in making economic decisions. (满分:2)
A. 错误
B. 正确
2.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. (满分:2)
A. 错误
B. 正确
3.A fixed asset impairments occurs when the fair value of a fixed asset falls below its book value and is not expected to recover. (满分:2)
A. 错误
B. 正确
4.Bonds are sold at face value when the contract rate is equal to the market rate of interest. (满分:2)
A. 错误
B. 正确
5.In preparing bank reconciliation, the amount of outstanding checks is added to the balance per bank statement. (满分:2)
A. 错误
B. 正确
6.During inflationary periods, the use of the LIFO method of costing inventory will result in a greater amount of net income than would result from the use of the FIFO method. (满分:2)
A. 错误
B. 正确
7.Sales Discounts is a revenue account with a credit balance. (满分:2)
A. 错误
B. 正确
8.An income statement is a summary of the revenues and expenses of a business as of a specific date. (满分:2)
A. 错误
B. 正确
9.Financial statements should be understandable to everyone. (满分:2)
A. 错误
B. 正确
10.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. (满分:2)
A. 错误
B. 正确
11.Revenue accounts are increased by credits. (满分:2)
A. 错误
B. 正确
12.During inflationary periods, an advantage of the LIFO inventory cost method is that it matches more recent costs against current revenues. (满分:2)
A. 错误
B. 正确
13.The statement of cash flows consists of an operating section, an income section, and an equity section. (满分:2)
A. 错误
B. 正确
14.Any difference between the fair market values of the securities and their cost is a realized gain or loss. (满分:2)
A. 错误
B. 正确
15.Ordinarily, a corporation owning a significant portion of the voting stock of another corporation accounts for the investment using the equity method. (满分:2)
A. 错误
B. 正确
16.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. (满分:2)
A. 错误
B. 正确
17.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet. (满分:2)
A. 错误
B. 正确
18.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. (满分:2)
A. 错误
B. 正确
19.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. (满分:2)
A. 错误
B. 正确
20.Information is material if its omission or misstatement could influence the economic decisions of users. (满分:2)
A. 错误
B. 正确
21.The book value of a fixed asset reported on the balance sheet represents its market value on that date. (满分:2)
A. 错误
B. 正确
22.Consuming goods and services in the process of generating revenues results in expenses. (满分:2)
A. 错误
B. 正确
23.If ending inventory for the year is understated, net income for the year is overstated. (满分:2)
A. 错误
B. 正确
24.The amortization of a premium on bonds payable decreases bond interest expense. (满分:2)
A. 错误
B. 正确
25.Amortization is the allocation process of writing off bond premiums and discounts to interest expense over the life of the bond issue. (满分:2)
A. 错误
B. 正确
26.Intangible assets differ from property, plant and equipment assets in that they lack physical substance. (满分:2)
A. 错误
B. 正确
27.Allowance for Doubtful Accounts is a liability account. (满分:2)
A. 错误
B. 正确
28.The double-entry accounting system records each transaction twice. (满分:2)
A. 错误
B. 正确
29.Primary users of accounting information are accountants. (满分:2)
A. 错误
B. 正确
30.When a stock dividend is declared, it becomes a liability (满分:2)
A. 错误
B. 正确
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