会计学原理 1—6章 英文练习

Chap 1
1.Mostly the objective of a business is not to make a profit.错
2. A corporation is a business that is legally separate and distinct from its owners.对
3. Accounting is a service that provides many different users with financial information to make economic decisions.对
4. Primary users of accounting information are accountants.错
5. "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." 错
6. The financial statements of a proprietorship should include the owner's personal assets and liabilities.错
7. The unit of measurement concept requires that economic data be recorded in a common unit of measurement 对
8. "If a building is appraised for $90,000, offered for sale at $95,000, and the buyer pays $85,000 cash for it, the buyer would record the building at $90,000." 错
9.An entity that is organized according to state or federal statutes and in which ownership is divided into shares of stock is a答案B
A. proprietorship
B. corporation
C. partnership
D. governmental unit
10.Which of the following best describes accounting? B
A. records economic data but does not communicate the data to users according to any specific rules
B. is an information system that provides reports to stakeholders
C. is of no use by individuals outside of the business
D. is used only for filling out tax returns and for financial statements for various type of governmental reporting requirements
11. The two most common specialized fields of accounting in practice are B
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
12.Which of the following is not a characteristic of financial accounting ______ C
A. external reporting
B. general-purpose information
C. future orientation
D. standard and uniform reporting
13.The business entity concept means that D
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"
14."For accounting purposes, the business entity should be considered separate from its owners if the entity is" D
A. a corporation
B. a proprietorship
C. a partnership
D. all of the above
15."Tom Smith is the owner of a small bookstore. He mainly does business through the internet so that the store has no physical office room and the orders
are dealt with at home. As a result, such bills as electricity, heating, telephone, and housecleaning are all recorded as expenses of the bookstore. This is not correct from the viewpoint of _______" A
A. the separate entity concept
B. the going concern assumption
C. the accounting period concept
D. the monetary measurement assumption
16.Which of the followings assures the accounting information users of timely decision___________ C
A. the separate entity concept
B. the going concern assumption
C. the accounting period concept
D. the monetary measurement assumption
17."Smith Company purchased $105,000 of computer equipment from Brown Company. Smith Company paid for the equipment using cash that had been obtained from the initial investment by Connie Smith. The transaction involving the computer equipment should be recorded on the accounting records of which of the following entities?" D
A. Smith Company and Connie Smith's personal records
B. Brown Company and Connie Smith's personal records
C. Brown Company
D. Smith Company and Brown Company
18."The Reynolds Company estimated that the value of its land had increased from $10,000 to $16,000 and therefore wrote up the land account to $16,000. Which accounting concept(s) was (were) violated?" C
A. separate entity concept
B. money measurement concept
C. historical cost concept
D. accounting period concept
19.“Equipment with an estimated m arket value of $45,000 is offered for sale at $65,000. The equipment is acquired for $10,000 in cash and a note payable of $40,000 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is" A
A.50000
B.65000
C.10000
D.45000
20."(mark out all correct answers) Which of the followings should not be included in the financial records of Delicious Sam, a bakery at the corner of the street ____________" A C D
A. "Sweetie Alice, another bakery located opposite to Delicious Sam, lowered its price for brown bread from 50 cents to 30 cents "
B. Delicious Sam purchased 100kg of flour for $50
C. "Sweetie Alice sold cookie of $10 to Sam, the owner of Delicious Sam."
D. Delicious Sam promised free delivery to bulk buying customers in order to compete with Sweetie Alice.
E. Sam withdrew $200 from his personal bank account to pay the bill from the miller who supplied flour to Delicious Sam
Chap 2 –a
3.An asset must have a physical substance and can be touched. 错
9. Match each of the following items to: a. assets; b. liabilities; c. owners' equity;
d. none of above items. 1.ending inventory ; 2.accounts payable to the suppliers;
3.salaries due but unpaid;
4.accounts receivable;
5.retained earnings;
6.capital stock;
7.prepaid insurance
答案：a b b a c c a
13.How does the collection of cash from a customer who was previously put on account affect the accounting equation?
答案C
A．assets decrease; owner's equity decreases B.assets increase; owner's equity increases
C. assets increase; assets decrease
D. assets increase; liabilities increase
25.(mark out all correct answers) The owner’s equity accounts of a partnership might be
答案 B D E
A. capital stock
B. "Tom Smith, capital"
C. retained earnings
D. "Alice Butler, capital"
E. "Pauline Jones, capital"
Chap 2 –b
3.Indicate for each of following transactions should related accounts be debited or credited. 1.Purchased inventory on account. The inventory account should be____; 2.Borrowed money from a bank. The notes payable account should be___; 3.Issued stock for cash. The capital stock should be____ 答案D C C
6.Owner's equity is increased by 答案B
A. cash
B. revenue
C. accounts receivable
D. all of the above
8."For a corporation, temporary proprietorship accounts are supposed to replace the ____________________ account temporarily."
答案 retained earnings
12.Consuming goods and services in the process of generating revenues results in expenses. 对
17. Net profit reported in the Income statement will not be reduced when the corporation declares and pays cash dividends to the stockholders 对
21. A credit signifies a decrease in 答案A
A. drawings
B. liabilities
C. capital
D. revenue
27."Land, originally purchased for $20,000, is sold for $75,000 in cash. What is the effect of the sale on the accounting equation?" 答案B
A. "assets increase $75,000; owner's equity increases $75,000"
B. "assets increase $55,000; owner's equity increases $55,000"
C. "assets increase $75,000; liabilities decrease $20,000; owner's equity increases $55,000"
D. "assets increase $20,000; no change for liabilities; owner's equity increases $75,000"
29.Which of the following entries records the payment of an account payable? 答案 D
A. debit Cash; credit Accounts Payable
B. debit Accounts Receivable; credit Cash
C. debit Cash; credit Supplies Expense
D. debit Accounts Payable; credit Cash
Chap 3 –a
2.Which one of the following is a purpose of the ledger rather than a purpose of the journal?
答案 A
A. to show increases and decreases in accounts
B. to show a chronological order for transactions
C. to show a complete transaction in one place
D. to help locate errors
10.The accounting entry to record the purchase of office supplies for cash will not involve an expense account. 对
14.The process of transferring the data from the journal to the ledger accounts is posting. 对
20.Posting a transaction twice will not cause the trial balance totals to be unequal.对
21.Journalizing a transaction with both the debit and the credit for $69 instead of $96 will cause the trial balance to be out of balance. 错
23."The total number at the bottom of the trial balance should equal to the total number at the bottom of the balance sheet, because they both show the equality of the accounting equation." 错
24.(mark out all correct answers) The credit column of a T/B might include _______ accounts。

答案B C D
A. asset
B. liability
C. O/E
D. revenue
E. expense
F. dividends
Chap 3-b
6.The matching concept requires expenses be recorded in the same period that the related revenue is recorded.对
7. Rendering services on account will increase both assets and owner’s equity. 对9．Nike Corporation signed a contract to advertise its sport suit in May. Payment was made in April. The a.d. expense should be recorded in ____ according to accrual basis. May
24. Cash account shows a different balance if an adjusting entry is omitted at the end of the accounting period. 错
26. "If the effect of the credit portion of an adjusting entry is to increase the balance of a liability account, which of the following describes the effect of the debit portion of the entry?"答案D
A. increases the balance of a contra asset account
B. increases the balance of an asset account
C. decreases the balance of an owner's equity account
D. increases the balance of an expense account
32."(mark out all correct answers) Compared with those in the unadjusted T/B, the balances of ________ accounts in the adjusted T/B might be different. "答案A B D E
A. asset
B. liability
C. retained earnings
D. revenue
E. expense
F. dividends
Chap 3- c
1."The principal financial statements of a proprietorship (also for a merchandising business) are the income statement, statement of owner's equity, and the balance sheet." 错
5. (mark out all correct answers) Transactions affecting stockholders' equity include
答案A C E
A. Issuance of stocks
B. payment of liabilities
C. Dividends
D. collection of accounts receivable
E. Revenues and expenses
12. Notes Receivable due in 345 days appear on the 答案A
A. balance sheet in the current assets section
B. balance sheet in the noncurrent assets section
C. balance sheet in the current liabilities section
D. income statement as an expense
13. (mark out all correct answers) Among the followings _______ belong to current assets.
答案A E F I J
A. Cash
B. accounts payable
C. machines and equipments
D. notes payable that will due in 3 months
E. inventory
F. accounts receivable
G. salaries payable
H. bank loan that should be repaid in 3 years I. prepaid rent J. office supplies K. unearned rent
L. capital stock
14.(mark out all correct answers) Among the followings _______ belong to current liabilities. 答案B D G K
A. cash
B. accounts payable
C. machines and equipments
D. notes payable that will due in 3 months
E. inventory
F. accounts receivable
G. salaries payable
H. bank loan that should be repaid in 3 years I. prepaid rent J. office supplies K. unearned rent
L. capital stock
15. List the sequence of the following items as appear in the balance sheet.
1.cash
2.accounts receivable
3.inventory
4.equipment
16. Examples of temporary accounts are supplies and prepaid expenses which are in the ledger for just a short time before they expire.错
18. Balance sheet accounts 答案B
A. represent amounts accumulated during a specific period of time
B. are called permanent accounts
C. have zero balances after the closing entries have been posted
D. are just asset accounts and liability accounts
27. Which of the following accounts ordinarily appears in the post-closing trial balance?
答案 D
A. Dividends
B. Supplies Expense
C. Sales revenue
D. Prepaid expense Chapter 4—a
2.(mark out all correct answers) The difference between cash sales and credit sales includes 答案BD
A. different closing entries at period end
B. different time to debit cash
C. different entries to record the cost of goods sold
D. different accounting entries on the day of sale
3.(mark out all correct answers) Indicate which of the followings should be classified as accounts receivable. 答案AB
A. "for a wholesaler, receivables from a retailer for goods sold to him"
B. "for an insurance company, premium receivables from policy holders (insurance buyers)"
C. "for a merchandising company, interest receivables for depositing in the bank"
D. "for a manufacturing company, receivables from the warehouseman and insurance company for goods damaged in a fire"
10. (mark out all correct answers) A sales return will decrease _____ 答案ABCD
A. net sales revenue
B. COGS
C. gross profit
D. current assets
E. operating expense
14.Sales Returns and Allowances is a contra-revenue account. 对
15.Sales Discounts is a revenue account with a credit balance. 错
16.Which of the following accounts has a normal credit balance? 答案B
A. Sales Returns and Allowances
B. Sales
C. Sales discounts
D. Transportation Out
18.What is the type of account and normal balance of Allowance for Doubtful Accounts (Allowance for Bad Debts)? 答案A
A. "Contra asset, credit"
B. "Asset, debit"
C. "Asset, debit"
D. "Contra asset, debit"
20." If the allowance method of accounting for bad debts is used, which of the following ledger account is debited to write off a customer's account as uncollectible?" 答案 B
A. Bad Debts Expense
B. Allowance for Bad Debts
C. Allowance for Bad Debts
D. Interest Expense
21.A company uses the allowance method to account for uncollectible accounts. When the firm writes off a specific customer's account receivable 答案D
A. total current assets are reduced
B. total expenses for the period are increased
C. total current assets are reduced and total expenses are increased
D. there is no effect on total current assets or total expenses
Chapter 4--b
1.Notes may be issued 答案D.
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
6."On November 1, Kim Company accepted a 3-month note receivable as payment for services provided to Chu Company. The terms of the note were $8,000 face value and 6% interest. Kim Company closes its books at December 31 and has made adjusting entries properly. On February 1, the journal entry to record the collection of the note should include a credit to" 答案D
A. "Notes Receivable for $8,120"
B. Interest Receivable for $120
C. Interest Receivable for $120
D. Interest Revenue for $40
7. (mark out all correct answers) Indicate which of the followings should not be regarded as cash of M company 答案ADF
A. checks marked as “NSF”
B. coins
C. money orders
D. a deposit in a foreign bank that is subject to foreign currency restriction
E. checks payable to M company
F. postdated checks
G. current deposits
8."On the bank's accounting records, customers' (depositors') accounts are normally shown as " 答案D
A. debit balances
B. debit balances
C. an asset
D. a liability
22.Accompanying the bank statement was a debit memorandum for bank service charges. What entry is required in the depositor's accounts? 答案A
A. debit Miscellaneous Administrative Expense; credit Cash
B. debit Cash; credit Other Income
C. debit Cash; credit Accounts Payable
D. debit Accounts Payable; credit Cash
23.The amount of cash to be reported on the balance sheet at June 30 is the
答案B
A. Balance as of June 30 in the business cash account before reconciliation
B. adjusted balance appearing in the bank reconciliation for June 30
C. total of the cash column in the cash payments journal as of June 30
D. balance as of June 30 on the bank statement
Chapter -5
1. The account 'merchandise inventory' records increases and decreases about A
A. cars held for resale in the warehouse of a car dealer
B. supplies used in the office of a merchandising company
C. supplies used in the office of a merchandising company
D. machine used in the production process by a manufacturing business
6. "The beginning and ending inventory are respectively $20 000 and $30 000. The gross purchase is $110 000 and purchase returns $3000. Besides, purchase discount is $2000. The COGS is calculated as $____________" 95000
13. " On June 30, a business that applies the Lower of Cost or Market basis of inventory valuation to each item has following inventories: Commodity A, quantity 20, unit cost price $52, unit market price $55; Commodity B, quantity 10, unit cost price $255, unit market price $250; Commodity C, quantity 20, unit cost price $82, unit market price $85; Commodity D, quantity 30, unit cost price $58, unit market price $55. The amount of reduction in the inventory at June 30 is $_________."
答案140
15. "In a yearend physical inventory, omitting goods delivered to agents on consignment will understate current year’s profit." 对
16. Over-counting the inventories at the yearend will overstate next year’s profit.
错
Chapter --6
1. (mark out all correct answers) Which of the followings are normally recorded as operating expenses_____ ABDF
A. wages expense of the CEO
B. store rents
C. interest expense
D. insurance expense
E. COGS
F. office supplies expense
6. Freight-in is a(n) _______ item. 答案B
A. administrative expense
B. selling expense
C. COGS
D. inventory cost
7. "The journal entry to record the payment for warranty repairs, on which products were sold in prior years, includes a debit to Warranty Expense." 错
9. "Pilgrim Company sells merchandise with a one year warranty. In 2005, sales consisted of 1,500 units. It is estimated that warranty repairs will average $10 per unit sold, and 30% of the repairs will be made in 2005 and 70% in 2006. In the 2005 income statement, Pilgrim should show warranty expense of" 答案15000
14. Contingent liabilities that will most probably happen but unable to estimate are ___ 答案B
A. journalized and reported in the B/S
B. disclosed in the footnotes
C. ignored
D. recorded but without journal entries
15. "Madison Company guarantees the $13 000 debt of a supplier. It is possible but not probable that the supplier will default on the debt. The guarantor, Madison Company, should record the $13 000 contingent liability and report it in its financial statement." 错。