会计英语第三章作业

Matching Questions

140. Match the following terms the appropriate definition.

1. Depreciatio n expense The accounting system that recognizes revenues when earned and expenses

when incurred.

2. Time period principle

The accounting system where revenues are recognized when cash is

received and expenses are recorded when

cash is paid.

3. Profit margin Items paid for in advance of receiving

their benefits.

4. Matching

principle Net income divided by net sales.

5. Accrued revenues

The expense created by allocating the cost of plant and equipment to the periods

in which they are used.

6. Accrual basis accounting Allocates equal amounts of an asset's cost (less any salvage value) to depreciation expense during its useful

life.

7. Cash basis accounting

A principle that assumes that an

organization's activities can be divided into specific time periods such as months,

quarters, or years.

8. Prepaid expenses The principle that requires expenses to be reported in the same period as the revenues that were earned as a result of

the expenses.

9. Straight-lin e depreciation Revenues earned in a period that are both unrecorded and not yet received in

cash or other assets.

141. Match the following terms with the appropriate definition.

1. Adjusted trial balance A balance sheet that lists assets on the left side and liabilities and equity on the

right.

2. Adjusting entry A journal entry used at the end of an accounting period to bring an asset or liability account balance to its proper amount and update the related expense

or revenue account.

3. Account form balance sheet A listing of accounts and balances

prepared before adjustments are

recorded.

4. Accountin

g period The consecutive 12 months (or 52 weeks) selected as the organization's

annual accounting period.

5. Contra account

A balance sheet that lists items vertically in the order: assets, liabilities

and equity.

6. Unadjuste

d trial balanc

e The length o

f time covered by financial

statements.

7. Interim financial reports

An account linked with another account and having an opposite normal

balance.

8. Fiscal year

Financial reports covering less than one year, usually one, three, or six-month

periods.

9. Report form balance sheet

A listing of accounts and balances prepared after adjustments are recorded

and posted to the ledger.