南开20春学期（1709、1803、1809、1903、1909、2003）《会计专业英语》在线作业题目【标准答案】

20春学期（1709、1803、1809、1903、1909、2003）《会计专业英语》在线作业

试卷总分:100  得分:100

一、单选题 (共 20 道试题,共 40 分)

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

 

2.Cash equivalents（ ）

A.are illegal in some company

B.will be converted to cash within two years

C.will be converted to cash within 90 days

D.will be converted to cash within 120 days

 

3.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

 

4.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

 

5.Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a

A.credit to Sales Returns and Allowances

B.debit to Merchandise Inventory

C.credit to Merchandise Inventory

D.debit to Cost of Merchandise Sold

 

6.The most widely used depreciation method is

A.straight-line

B.sum-of-the-years-digits

C.declining-balance

D.units-of-production

 

7.The cost method of accounting for stock( )

A.recognizes dividends as income

B.is only appropriate as part of a consolidation

C.requires the investment be increased by the reported net income of the investee

D.requires the investment be decreased by the reported net income of the investee

 

8.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

 

9.The accounting equation may be expressed as（ ）

A.Assets = Equities - Liabilities

B.Assets + Liabilities = Owner's Equity

C.Assets = Revenues less Liabilities

D.Assets - Liabilities = Owner's Equity

 

10.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.

 

11.Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?

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

 

12.Which of the following groups are considered to be internal users of accounting information?

A.Employees and customers

B.Customers and vendors

C.Employees and managers

D.Government and banks

 

13.Cash equivalents( )

A.are illegal in some company

B.will be converted to cash within two years

C.will be converted to cash within 90 days

D.will be converted to cash within 120 days

 

14.The percentage analysis of increases and decreases in individual items in comparative financial statements is called ( )

A.vertical analysis

B.solvency analysis

C.profitability analysis

D.horizontal analysis

 

15.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

 

16.The method of accounting for investments in equity securities in which the investor records its share of periodic net income of the investee is the ( )

A.cost method

B.market method

C.income method

D.equity method

 

17.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

 

18.Which of the following entries records the acquisition of office supplies on account?

A.Office Supplies, debit; Cash, credit

B.Cash, debit; Office Supplies, credit

C.Office Supplies, debit; Accounts Payable, credit

D.Accounts Receivable, debit; Office Supplies, credit

 

19.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

 

20.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

 

二、判断题 (共 30 道试题,共 60 分)

21.Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.

 

22.The relationship of each asset item as a percent of total assets is an example of vertical analysis.

 

23.Merchandise that is returned to the vendor is referred to as a sales allowance.

 

24.Purchasing supplies on account increases liabilities and decreases equity.

 

25.Capital expenditures are costs that are charged to Stockholders' Equity accounts.

 

26.If ending inventory for the year is overstated, owner's equity reported on the balance sheet at the end of the year is understated.

 

27.Merchandising businesses sell products that they purchase from other businesses to customers.

 

28.Even when a trial balance is in balance, there may be errors in the individual accounts.

 

29.The day on which the board of directors of the corporation distributes a dividend is called the declaration date.

 

30.Revenue is earned only when money is received.

 

31.The effect of a sales return and allowance is a reduction in sales revenue and a decrease in cash or accounts receivable.

 

32.Paying an account payable increases liabilities and decreases assets

 

33.The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business.

 

34.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.

 

35.When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.

 

36.Treasury Stock is listed in the stockholders' equity section on the balance sheet.

 

37.The main reason that the bank statement cash balance and the depositor's cash balance do not initially balance is due to timing differences.

 

38.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.

 

39.If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.

 

40.Recognition is the process of incorporating in the balance sheet or income statement an item that meet the definition of an element and satisfies the recognition criteria.

 

41.Sales Discounts is a revenue account with a credit balance.

 

42.The units of production depreciation method matches expenses against revenue the best.

 

43.If the proceeds from the sale of bond investments exceeds the carrying amount of the bonds, a gain is realized.

 

44.The matching concept requires expenses be recorded in the same period that the related revenue is recorded.

 

45.A large retained earnings account means that there is cash available to pay dividends.

 

46.If the liabilities owed by a business total $500,000, then the assets also total $500,000.

 

47.The amortization of a premium on bonds payable decreases bond interest expense.

 

48.Accounting is a service that provides many different users with financial information to make economic decisions.

 

49.Intangible assets differ from property, plant and equipment assets in that they lack physical substance.

 

50.The declaration and issuance of a stock dividend does not affect the total amount of a corporation's assets, liabilities, or stockholders' equity.