南开17春学期《会计专业英语》在线作业答案
南开17春学期《会计专业英语》在线作业一、单选题：
1.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
2.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.
3.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
4.Which of the following below generally is the most useful in analyzing companies of different sizes? (满分:2)
A. comparative statements
B. common-sized financial statements
C. price-level accounting
D. audit report
5.The two methods of accounting for investments in stock are the cost method and the ( ) (满分:2)
A. straight-line method
B. equity method
C. liability method
D. interest method
6.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
7.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
8.Which of the items below is not a business organization form?( ) (满分:2)
A. entrepreneurship
B. proprietorship
C. partnership
D. corporation
9.Which of the following should not be considered cash by an accountant? (满分:2)
A. coins
B. bank checking accounts
C. postage stamps
D. Petty cash funds
10.The most widely used depreciation method is (满分:2)
A. straight-line
B. sum-of-the-years-digits
C. declining-balance
D. units-of-production
11.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
12.The journal entry a company uses to record the estimated accrued product warranty liability is ( ) (满分:2)
A. debit Product Warranty Expense; credit Product Warranty Payable
B. debit Product Warranty Payable; credit Cash
C. debit Product Warranty Expense; credit Cash
D. debit Product Warranty Payable; credit Product Warranty Expense
13.Under which method of cost flows is the inventory assumed to be composed of the most recent costs? (满分:2)
A. average cost
B. last-in
first-out
C. first-in
first-out
D. weighted average
14.Which of the following groups of accounts have a normal debit balance? (满分:2)
A. revenues
liabilities
capital
B. capital
assets
C. liabilities
expenses
D. assets
expenses
15.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
16.When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at ( ) (满分:2)
A. a premium
B. their face value
C. their maturity value
D. a discount
17.A characteristic of a fixed asset is that it is ( ) (满分:2)
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
18.Stockholders' equity ( ) (满分:2)
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
19.Merchandise inventory at the end of the year was understated.Which of the following statements correctly states the effect of the error? (满分:2)
A. net income is understated
B. net income is overstated
C. cost of merchandise sold is understated
D. merchandise inventory reported on the balance sheet is overstated
20.The excess of issue price over par of common stock is termed a(n) ( ) (满分:2)
A. discount
B. income
C. deficit
D. premium
三、判断题：
1.The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business. (满分:2)
A. 错误
B. 正确
2.Primary users of accounting information are accountants. (满分:2)
A. 错误
B. 正确
3.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
4.A business using the perpetual inventory system, with its detailed subsidiary records, does not need to take a physical inventory. (满分:2)
A. 错误
B. 正确
5.The difference between Accounts Receivable and its contra asset account is called net realizable value. (满分:2)
A. 错误
B. 正确
6.The amortization of a premium on bonds payable decreases bond interest expense. (满分:2)
A. 错误
B. 正确
7.A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time. (满分:2)
A. 错误
B. 正确
8.Revenue is earned only when money is received. (满分:2)
A. 错误
B. 正确
9.When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold. (满分:2)
A. 错误
B. 正确
10.Accounting Process is identifying, measuring, recording, and communicating economic information to permit informed judgments and decisions by users of information. (满分:2)
A. 错误
B. 正确
11.A corporation is a business that is legally separate and distinct from its owners. (满分:2)
A. 错误
B. 正确
12.In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement. (满分:2)
A. 错误
B. 正确
13.When old equipment is traded in for a new equipment, the difference between the list price and the trade in allowance is called boot. (满分:2)
A. 错误
B. 正确
14.For strong internal control system over cash, it is important to have the duties related to cash receipts and cash payments divided among different employees. (满分:2)
A. 错误
B. 正确
15.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. (满分:2)
A. 错误
B. 正确
16.The declaration of a stock dividend decreases a corporation's stockholders' equity and increases its liabilities. (满分:2)
A. 错误
B. 正确
17.If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account. (满分:2)
A. 错误
B. 正确
18.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
19.If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond. (满分:2)
A. 错误
B. 正确
20.Revenue accounts are increased by credits. (满分:2)
A. 错误
B. 正确
21.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
22.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
23.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
24.Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit. (满分:2)
A. 错误
B. 正确
25.All property, plant, and equipment assets are depreciated over time. (满分:2)
A. 错误
B. 正确
26.Cash equivalents are short -term investments that will be converted to cash within 120 days. (满分:2)
A. 错误
B. 正确
27.Bondholders are creditors of the issuing corporation. (满分:2)
A. 错误
B. 正确
28.Consuming goods and services in the process of generating revenues results in expenses. (满分:2)
A. 错误
B. 正确
29.During deflationary periods, the use of the LIFO method of costing inventory will result in a lower amount of current assets than would result from the use of the FIFO method. (满分:2)
A. 错误
B. 正确
30.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
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