财务会计英语 练习及答案ch02
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ANS:FDIF:2OBJ:03
29.The process of transferring the data from the journal to the ledger accounts is posting.
ANS:TDIF:1OBJ:04
30.The post reference notation used in the ledger is the account number.
36.When a business receives a bill from the utility company, no entry should be made until the invoice is paid.
ANS:FDIF:2OBJ:04
37.When an owner invests assets in the business, the capital account increases due to revenue being earned.
ANS:TDIF:1OBJ:01
2.A group of related accounts that make up a complete unit is called a trial balance.
ANS:FDIF:1OBJ:01
3.A chart of accounts is a listing of accounts that make up the journal.
35.For a month's transactions for a typical medium-sized business, the accounts payable account is likely to have only credit entries.
ANS:FDIF:2OBJ:04
ANS:TDIF:1OBJ:03
20.Journalizing transactions using the double-entry bookkeeping systemwill eliminatefraud.
ANS:FDIF:3OBJ:03
21.Liability accounts are increased by debits.
ANS:TDIF:1OBJ:03
18.Journalizing is the process of entering amounts in the ledger.
ANS:FDIF:1OBJ:03
19.Transactions are listed in the journal chronologically.
ANS:FDIF:2OBJ:01
6.Consuming goods and services in the process of generating revenues results in expenses.
ANS:TDIF:1OBJ:01
7.Prepaid expenses are an example of an expense.
ANS:TDIF:2OBJ:05
43.The totals at the bottom of the trial balance and the totals at the bottom of the balance sheet both show equality and balancing, and therefore should be equal.
ANS:FDIF:1OBJ:01
4.The chart of accounts should be the same for each business.
ANS:FDIF:2OBJ:01
5.Accounts payable are accounts that you expect will be paid to you.
ANS:FDIF:3OBJ:03
14.The double-entry accounting system records each transaction twice.
ANS:FDIF:1OBJ:03
15.The increase side of all accounts is the normal balance.
ANS:FDIF:2OBJ:04
34.For a month's transactions for a typical medium-sized business, the salary expense account is likely to have only credit entries.
ANS:FDIF:2OBJ:04
41.A trial balance determines the accuracy of the numbers.
ANS:FDIF:3OBJ:05
42.Even when a trial balance is in balance, there may be errors in the individual accounts.
ANS:TDIF:2OBJ:06
46.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.
ANS:FDIF:3OBJ:05
44.The erroneous arrangement of digits, such as writing $45 as $54, is called a slide.
ANS:FDIF:2OBJ:06
45.Posting a transaction twice will cause the trial balance totals to be equal.
ANS:TDIF:2OBJ:百度文库4
33.The order of the flow of accounting data is (1) record in the ledger, (2) record in the journal, (3) prepare the financial statements.
ANS:FDIF:2OBJ:04
38.When an accounts payable account is paid in cash, the owner's equity in the business decreases.
ANS:FDIF:2OBJ:04
39.When an account receivable is collected in cash, the total assets of the business increase.
ANS:TDIF:2OBJ:03
16.The journal is the book of original entry.
ANS:TDIF:1OBJ:03
17.The process of recording a transaction in the journal is called journalizing.
ANS:FDIF:2OBJ:01
8.Unearned Revenues are an example of a liability.
ANS:TDIF:2OBJ:01
9.Drawings are an example of an expense.
ANS:FDIF:2OBJ:01
10.Accounts in the ledger are usually maintained in alphabetical order.
ANS:FDIF:2OBJ:06
48.Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal.
ANS:FDIF:3OBJ:06
49.Horizontal analysis is used to compare financial statements from different periods.
ANS:FDIF:1OBJ:03
22.Expense accounts are increased by credits.
ANS:FDIF:1OBJ:03
23.Revenue accounts are increased by credits.
ANS:TDIF:1OBJ:03
24.The normal balance of a capital account is a debit.
CHAPTER 2
ANALYZING TRANSACTIONS
Chapter 2—Analyzing Transactions
TRUE/FALSE
1.Accounts are records of increases and decreases in individual financial statement items.
ANS:FDIF:2OBJ:04
40.A proof of the equality of debits and credits in the ledger at the end of an accounting period is called a balance sheet.
ANS:FDIF:2OBJ:05
ANS:FDIF:2OBJ:06
47.The erroneous moving of an entire number one or more spaces to the right or left, such as writing $75 as $750, is called a transposition.
ANS:FDIF:1OBJ:04
31.The post reference notation used in the journal is the page number.
ANS:FDIF:1OBJ:04
32.A notation in the post reference column of the general journal indicates that the amount has been posted to the ledger.
ANS:FDIF:1OBJ:02
13.Unless the transaction is compound, the dollar amount of the debits for each transaction is equal to the dollar amount of the credits for that transaction, and thus the term double-entry bookkeeping..
ANS:FDIF:2OBJ:01
11.Depending on the account title, the right side of the account is referred to as the credit side.
ANS:FDIF:2OBJ:02
12.To determine the balance in an account, always subtract credits from debits.
ANS:FDIF:1OBJ:03
25.The normal balance of the drawing account is a debit.
ANS:TDIF:1OBJ:03
26.The normal balance of an expense account is a credit.
ANS:FDIF:1OBJ:03
27.The normal balance of revenue accounts is a credit.
ANS:TDIF:1OBJ:03
28.Withdrawals decrease owner's equity and are listed on the income statement as a deduction from revenue.
29.The process of transferring the data from the journal to the ledger accounts is posting.
ANS:TDIF:1OBJ:04
30.The post reference notation used in the ledger is the account number.
36.When a business receives a bill from the utility company, no entry should be made until the invoice is paid.
ANS:FDIF:2OBJ:04
37.When an owner invests assets in the business, the capital account increases due to revenue being earned.
ANS:TDIF:1OBJ:01
2.A group of related accounts that make up a complete unit is called a trial balance.
ANS:FDIF:1OBJ:01
3.A chart of accounts is a listing of accounts that make up the journal.
35.For a month's transactions for a typical medium-sized business, the accounts payable account is likely to have only credit entries.
ANS:FDIF:2OBJ:04
ANS:TDIF:1OBJ:03
20.Journalizing transactions using the double-entry bookkeeping systemwill eliminatefraud.
ANS:FDIF:3OBJ:03
21.Liability accounts are increased by debits.
ANS:TDIF:1OBJ:03
18.Journalizing is the process of entering amounts in the ledger.
ANS:FDIF:1OBJ:03
19.Transactions are listed in the journal chronologically.
ANS:FDIF:2OBJ:01
6.Consuming goods and services in the process of generating revenues results in expenses.
ANS:TDIF:1OBJ:01
7.Prepaid expenses are an example of an expense.
ANS:TDIF:2OBJ:05
43.The totals at the bottom of the trial balance and the totals at the bottom of the balance sheet both show equality and balancing, and therefore should be equal.
ANS:FDIF:1OBJ:01
4.The chart of accounts should be the same for each business.
ANS:FDIF:2OBJ:01
5.Accounts payable are accounts that you expect will be paid to you.
ANS:FDIF:3OBJ:03
14.The double-entry accounting system records each transaction twice.
ANS:FDIF:1OBJ:03
15.The increase side of all accounts is the normal balance.
ANS:FDIF:2OBJ:04
34.For a month's transactions for a typical medium-sized business, the salary expense account is likely to have only credit entries.
ANS:FDIF:2OBJ:04
41.A trial balance determines the accuracy of the numbers.
ANS:FDIF:3OBJ:05
42.Even when a trial balance is in balance, there may be errors in the individual accounts.
ANS:TDIF:2OBJ:06
46.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.
ANS:FDIF:3OBJ:05
44.The erroneous arrangement of digits, such as writing $45 as $54, is called a slide.
ANS:FDIF:2OBJ:06
45.Posting a transaction twice will cause the trial balance totals to be equal.
ANS:TDIF:2OBJ:百度文库4
33.The order of the flow of accounting data is (1) record in the ledger, (2) record in the journal, (3) prepare the financial statements.
ANS:FDIF:2OBJ:04
38.When an accounts payable account is paid in cash, the owner's equity in the business decreases.
ANS:FDIF:2OBJ:04
39.When an account receivable is collected in cash, the total assets of the business increase.
ANS:TDIF:2OBJ:03
16.The journal is the book of original entry.
ANS:TDIF:1OBJ:03
17.The process of recording a transaction in the journal is called journalizing.
ANS:FDIF:2OBJ:01
8.Unearned Revenues are an example of a liability.
ANS:TDIF:2OBJ:01
9.Drawings are an example of an expense.
ANS:FDIF:2OBJ:01
10.Accounts in the ledger are usually maintained in alphabetical order.
ANS:FDIF:2OBJ:06
48.Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal.
ANS:FDIF:3OBJ:06
49.Horizontal analysis is used to compare financial statements from different periods.
ANS:FDIF:1OBJ:03
22.Expense accounts are increased by credits.
ANS:FDIF:1OBJ:03
23.Revenue accounts are increased by credits.
ANS:TDIF:1OBJ:03
24.The normal balance of a capital account is a debit.
CHAPTER 2
ANALYZING TRANSACTIONS
Chapter 2—Analyzing Transactions
TRUE/FALSE
1.Accounts are records of increases and decreases in individual financial statement items.
ANS:FDIF:2OBJ:04
40.A proof of the equality of debits and credits in the ledger at the end of an accounting period is called a balance sheet.
ANS:FDIF:2OBJ:05
ANS:FDIF:2OBJ:06
47.The erroneous moving of an entire number one or more spaces to the right or left, such as writing $75 as $750, is called a transposition.
ANS:FDIF:1OBJ:04
31.The post reference notation used in the journal is the page number.
ANS:FDIF:1OBJ:04
32.A notation in the post reference column of the general journal indicates that the amount has been posted to the ledger.
ANS:FDIF:1OBJ:02
13.Unless the transaction is compound, the dollar amount of the debits for each transaction is equal to the dollar amount of the credits for that transaction, and thus the term double-entry bookkeeping..
ANS:FDIF:2OBJ:01
11.Depending on the account title, the right side of the account is referred to as the credit side.
ANS:FDIF:2OBJ:02
12.To determine the balance in an account, always subtract credits from debits.
ANS:FDIF:1OBJ:03
25.The normal balance of the drawing account is a debit.
ANS:TDIF:1OBJ:03
26.The normal balance of an expense account is a credit.
ANS:FDIF:1OBJ:03
27.The normal balance of revenue accounts is a credit.
ANS:TDIF:1OBJ:03
28.Withdrawals decrease owner's equity and are listed on the income statement as a deduction from revenue.