习题答案

1 A _______Partnership __ is an entity owned by two or more persons, and the owners are personally responsible for entity’s debts.

2 A double entry requires at least one ___ debit_____ entry and at least another ____credit_____entry.

3 The __Full Disclosure______ principle requires we must report all relevant information.

4 ____Financial__ Accounting is primarily recording of events, while Managerial Accounting mainly involves planning of events.

5 Cash sales from a customer is a part of cash inflows from ____operating____ activities in a cash flow statement.

6 The ____conservatism____ principle stresses that it is better to underestimate than overestimate.

7 The Income Statement is also known as the __financial__ statement.

8 Spell the full name of GMAT.

Graduate Management Admission Test 研究生入学考试

9 Spell the full name of CMA.

Certified Management Accountants 注册管理会计

10 Spell the full name of CICPA.

Chinese Institute of Certified Public Accountants 中国注册

会计师协会

CFP 注册金融规划师– Certified Financial Planners

CIA 注册内部审计师– Certified Internal AuditorsNDF

NDF 无本金交割远期交易– Non-Deliverable Forward

11 __Government__ accountants work for municipal, provincial, and federal agencies.

12 Spell the full name of IPO.

Initial Public Offering 首次公开募股

13 Spell the full name of TOEFL.

Test of English as a Foreign Language 托福

14 Using ___T-accounts__ debits are recorded on the left side, and credits are recorded on the right side.

15 Please spell out the full terminology for the accounting abbreviation C.O.A. chart of accounts 会计科目

16 Please spell out the full terminology for the accounting abbreviation G/L. general ledger 总账

17 The process of daily recording debits and credits in the general journal is known as ____journalizing.____.

18 The ___ Matching___ principle requires revenue & expenses must be recorded only in the period when they are incurred.

19 The account of Common Stock is in the _________ section of

a balance sheet.

20 At the end of each accounting period, we need to make ___adjusting__ entries to bring accounts up to date for the financial statements.

21 Please spell out the full terminology for the accounting abbreviation P.R. posting reference 过账参考

22 Adjusting entries are used to record a company's internal transactions on ___accrual_____ basis.权责发生制

23 The __adjusted ___trial___ balance is used to prepare the financial statements.

24 The ___monetary unit______ principle requires transactions recorded based on one common currency.

25 The cash flow statement shows the cash __inflows__ and __outflows___ from operating activities, investing activities, and financing activities.

26 Please list the three basic components in an balance sheet. Assets Liabilities Equity

27 The __Consistency___ principle requires an entity must use the same accounting methods for each period.

28 ___Internal___ Transactions require adjusting entries include depreciation, inventory shrinkage and LCM.

29 Please spell out the full terminology for the accounting