会计英语练习题

专业英语习题
一、单项选择题
1. Which of the following are reported in the stockholders’ equity section of the balance sheet? ( )
a.revenues and expenses
b.dividends and retained earnings
mon stock and dividends
mon stock and retained earnings
2. Current assets are presented in the balance sheet in order of ( )
a.dollar amounts
b.liquidity
c.solvency
d.the alphabet
3. Current liabilities include all of the following except ( )
a.accrued wages payable
b.advance received from customer
c.current portion of long-term loan
d.prepaid expenses
4. Credit terms of 2/10 n/30 indicate: ( )
a. a 2% discount if 10 items are purchased
b.no payment is required until the 31st day after the invoice date
c. a 10% discount if 2 items are purchase
d.
d. a 2% discount for amounts paid within 10 days of the invoice and the remaining balance
due within 30 days
5. Which statement regarding the inventory turnover ratio is Not True? ( )
a.The ratio measures the average rate of speed inventories move through and out of
company.
b.Inventory turnover=Average Inventory COGS
c.Inventory turnover figures vary considerably from industry to industry.
d. A low inventory turnover can result from an overextended inventory position or from
inadequate sales volume.
6. Which statement regarding the liabilities and owners’ equity section of balance sheet
is False? ( )
a.Payment of Dividend Payable eliminates both the assets and the owners’ equity
b.Liabilities are debts or obligations that must be discharged in money or services
in the future
c.Owners’ equity is a residual claim to the remaining assets after discharge of debts.
d.Balance sheet of corporations should separate Capital Stock and Retained Earnings.
7. What is the difference between the quick and current ratio? ( )
a.The quick ratio deals with the company’s ability to pay its liabilities whereas
the current ratio does not
b.The current ratio is a more stringent(严格的) test of liquidity than the quick ratio.
c.The quick ratio excludes inventory, which the current ratio includes for calculation
purposes.
d.Management primarily uses the current ratio whereas investors and analysts are the
primary users of the quick ratio.
8. What of the following is Not an example of apportionment of recorded costs? ( )
a.Depreciation of fixed assets
b.Reallocation of receipts in advance.
c.Expiration of insurance premium.
d.Consume of supplies.
9. For its most recent year, a corporation had beginning and ending accounts receivable balances of $50,000 and $60,000, respectively. The year's sales on account were $800,000. What was the amount of cash received from customers during the year? ( )
a.$790,000
b.$820,000
c.$810,000
d.$800,000
10. Sales revenue $200,000, beginning inventory $30,000, inventory purchased $100,000 and inventory sold $90,000. It is true that ( )
a.goods available for sale (GAFS) equals $200,000
b.gross profit equals $110,000
c.ending inventory equals $30,000
d.cost of goods sold (COGS) equals $40,000
11. Users of financial information may be classified as internal or external. Which following statement is true regarding financial information users? ( )
a.External users evaluate the performance of a company's management using management
accounting reports.
b.Financial accounting provides information to managers and external users, such as
potential investors.
c.Many laws require managerial accounting reports be reported to various levels of
the government.
d.Management accounting provides information to managers and external users, such as
potential investors.
12. What does the term ‘net realizable value’ mean regarding Accounts Receivable? ( )
realizable value is the balance in the Accounts Receivable account as of a given
date.
realizable value is what a company’s Accounts Receivable accounts will bring
if they are sold to a third party.
c.Accounts Receivable less Allowance for Uncollectible Accounts will equal the net
realizable value of Accounts Receivable
realizable value is the balance in the Allowance for Uncollectible Accounts as
of a given date.
13. Which of the following statements about a trail balance is incorrect? ( )
a.It’s primary purpose is to prove the mathematical equality of debits and credits
after posting
b.It uncovers certain errors in the journalizing and posting
c.It is useful in the preparation of financial statements
d.It proves that all transactions have been recorded.
14. In the closing process all of the revenues and expenses account balances are transferred to the ( )
a.capital account
b.income summary account
c.retained earnings account
d.dividends account
15. The post-closing trial balance consists only of ( )
a.Asset and liability accounts
b.temporary accounts
c.revenue and expense accounts
d.permanent accounts
16. Which of the following statements is True? ( D )
a.The credit side of an account implies something favorable.
b.For a given account, total debits must always equal total credits.
c.Transactions are initially recorded in a ledger account
d.Journalizing means entering the economic effect of each transaction in a journal
in chronological order under the double-entry system.
17. Financial statements can be prepared from ( B )
a.the trial balance
b.the adjusted trial balance
c.the journal
d.the ledger
18. Which of the following statements is False? ( A )
a.After a bank reconciliation has been completed, the company must make journal entries
to adjust for all outstanding checks.
b. A bank reconciliation for the moth of September will begin with “balance per book”
and “balance per bank statement” at September 30.
c. A check that is outstanding for two consecutive months should be included in both
months’ bank reconciliations.
d. A credit memorandum on a bank statement indicates an addition to the bank balanc
e.
19. Voucher Register is ( B )
a. A record of vouchers that have been paid
b.The journal that contains a record of each approved voucher
c. A list of debts
d. A document that authorizes payment.
20. Estimated bad debts as presented on the income statement is ( C )
a.Allowance for uncollectible accounts
b.Credit
c.Uncollectible accounts expense
d.Revenue
21. The GAAP assets that an item should be included in a financial statement if its omission
or misstatement would tend to mislead the users of financial statements is known as ( C )
a.the cost-benefit criterion
b.the going concern convention
c.the materiality convention
d.reliability
22. Accounts receivable, notes receivable, and interest receivable are all classified as
__________ on the balance sheet. ( A )
a.assets
b.liabilities
c.owners' equity
d.receivables
23. Which book or document is a list of all accounts and their balances? (B)
a.the journal
b.the trial balance
c.the ledger
d.the chart of accounts
二、多项选择题
1. Three major fields of accounting activity are: ( )
a.social accounting
b.private accounting
c.public accounting
ernmental accounting
2. The three forms of business organizations are: ( )
a.Corporation
b.Enterprise.
c.Single proprietorship
d.Partnership
3. Specialized fields of accounting include: ( )
a.cost accounting
b.tax accounting
ernmental and not-for-profit accounting
d.HR accounting
e.international accounting
4. The interested users of financial information include: ( )
a.Banks and other creditors
b.Managers
c.Stockholders
d.Investment advisors
ernmental agencies
5. Long-term assets can be further classified into: ( )
a.long-term investments
b.fixed assets
c.intangible assets.
d.capital stock
6. The necessary data for preparing the balance sheet and income statement are accumulated in major categories of ledger accounts including: ( )
a.assets accounts
b.liabilities accounts
c.owners’ equity accounts
d.revenues accounts
e.expenses accounts
7. Adjusting entries made to align revenue and expense with the appropriate periods consist of: ( )
a.Apportioning recorded cost to periods benefited.
b.Apportioning recorded revenue to periods in which it is earned
c.Accruing unrecorded expenses
d.Accruing unrecorded revenue
e.Merchandise inventory adjustment
8. Assume ending inventory is overstated because some inventory is accidentally counted twice. Which of the statements below regarding this situation is true? ( )
income for this accounting period will be overstated.
b.COGS for this accounting period will be overstated
income in the next accounting period will be understate
d.
d.Ending Retained Earnings in the next accounting period will be correct.
9. Which statement below regarding "closing procedures" is correct? ( )
a.Closing procedures only apply to temporary accounts.
b.Closing the books means to prepare the accounts for next period's transactions.
c.The closing process only applies to permanent accounts.
d.Eventually closing entries transfer temporary account balances to Retained Earnings.
三、判断题
1.The normal balance of an account appears on the side for recording increases ( )
2.It is customary to include any amounts received from customers but has not yet earned
as revenue in current liability. ( )
3.Financial position of an organization can best be determined by referring to the income
statement. ( )
4.Managerial accounting is governed by GAAP. ( )
5.Current assets are presented in the order of liquidity or convertibility into cash;
while current liabilities are listed in the order that they come due. ( )
6.Closing procedures only apply to permanent accounts. ( )
income or net loss in the income statement is reflected in the owners’ equity section
on the balance sheet at the end of the accounting period. ( )
8.Retained earning represents exactly what the term implies: that portion of net income
the company has retained. ( )
9.Business firms whose accounting year ends on December 31 are said to be on a
calendar-year basis. ( )
10.The income statement subtracts assets from revenues to determine income or loss for
a period time. ( )
11.Posting transfers journal entries to ledger accounts. ( )
12.When interim financial statement are being prepared, usually adjustments are made only
on the worksheet and will not be recorded in the journal and posted to the ledger account..
( )
13.In order to permit normal recording of subsequent payments or receipts, it is desirable
to make reversing entries at the end of the accounting period. ( )
14.The entry to write off a specific uncollectible account has no effect on net realizable
Account Receivable account. ( )
15.In the case of corporation, the Income Summary account will be closed to the Retained
Earnings account, which is kept separately from the Capital Stock account. ( )
16.COGS =Beginning inventory－Net purchase－Ending inventory ( )
17.In order to permit normal recording of subsequent payment or receipts, it is desirable
to make reversing entries at the beginning of next accounting period. ( )
18.The entry to write off a specific uncollectible account has no effect on net income
and on total assets. ( )
19.The terms debit and credit are used to describe the right-hand and left hand sides of
any “two-column” account. ( )
20.Business firms whose accounting year ends on December 31 are said to be on a fiscal
year basis. ( )
21.All adjusting entries will affect one balance sheet account and one income statement
account. ( )
22.Expense accounts are closed by debiting each expense account and crediting Retained
Earnings ( )
23.Closing entries produce a zero balance in revenue accounts, asset accounts and dividend
accounts. ( )
24.The adjusted trial balance contains all of the data needed for preparation of the income
statement, retained earnings statement and the balance sheet. ( )
25.The balance sheet presents a company’s assets, liabilities and stockholders equity
at a specific point in time. ( )
26.Posting transfers ledger transaction data to journal. ( )
27.The presentation of the owners’ equity section is same for three types of business
organization. ( )
四、业务题
1.The night manager of Majestic Limousine Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2001. The dollar amounts were taken directly from the company’s accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the
2.An inexperienced accountant for Fowler Company prepared the following income statement
Prepare a revised income statement in accordance with generally accepted accounting principles.
3.The following accounts show the first six transactions of the Gutierez. Construction Company. Prepare a journal entry (including written explanation) for each transaction.
Cash Vehicles
4.Louis Dixon, a dentist, begin his own dental practice. The practice was organized as
a sole proprietorship. The business transactions during September are listed below. Sept. 1 Dixon opened a bank account in the name of the business by depositing $50,000 cash., which he had saved over a number of years.
Sept.10 Purchased a small office building for a total price of $182,400, of which $106,000 was applicable to the land and $76,400 to the building. A cash payment of $36,500 was made and a note payable was issued for the balance of the purchase price. Sept 15 Purchased a microcomputer system from Computer Stores, inc. for $4,680 cash. Sept.19 Purchased office furnishings, at a cost of $5,760. A cash down payment of $960 was made, the balance to be paid in future.
Instruction
prepare journal entries to record the above transactions. Select the appropriate account titles from the following chart of accounts:
cash； office furnishings； notes payable； accounts receivable；
land；
accounts payable； building； Louis Dixon, Capital； Computer System
《专业英语习题》参考答案
一、单项选择题
1.d
2.b
3.d
4.d
5.b
6.a
7.c
8.b
9.a 10.b
11.b 12.c 13.d 14.b 15.d
二、多项选择题
1.bcd
2.acd
3.abcde
4.abcde
5.abc
6.abcde
7.abcde
8.acd
9.abd
三、判断题
1.T
2.T
3.F
4.F
5.T
6.F
7.T
8.T
9.T 10.F
11.T 12.T 13.F 14. T 15.T 16.F 17.T 18.T 19.T 20.F
21.F 22.F 23.F 24.T 25.T 26.F 27.F
四、业务题
1.
2.
3. Answer:
4. Answers:
Sept. 1 Dr. cash 50,000 Cr.Louis Dixon, capital
50,000
Sept.10 Dr. Land 106,000
Building 76,400
Cr. Cash
36,500
Note payable
145,900
Sept 15 Dr. computer system 4,680
Cr. Cash
4,680
Sept.19 Dr. Office furnishing
5,760
Cr. Cash
960
Accounts payable
4,800
10。