专业英语习题

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.d ividends and retained earnings

mon stock and dividends

d.c ommon stock and retained earnings

2. Current assets are presented in the balance sheet in order of ( )

a.dollar amounts

b.l iquidity

c.solvency

d.t he alphabet

3. Current liabilities include all of the following except ( )

a.accrued wages payable

b.a dvance received from customer

c.current portion of long-term loan

d.p repaid expenses

4. Credit terms of 2/10 n/30 indicate: ( )

a.a 2% discount if 10 items are purchased

b.n o 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.I nventory 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.L iabilities 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.B alance 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.T he 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.M anagement 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.R eallocation of receipts in advance.

c.Expiration of insurance premium.

d.C onsume 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