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(单选题)1: A characteristic of a fixed asset is that it is （ ） A: intangible
B: used in the operations of a business
C: held for sale in the ordinary course of the business D: none of the above 正确答案:
(单选题)2: How is treasury stock shown on the balance sheet? A: as an asset
B: as a decrease in stockholders' equity C: as an increase in stockholders' equity
D: treasury stock is not shown on the balance sheet 正确答案:
(单选题)3: When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at ( ) A: a premium
B: their face value C: their maturity value D: a discount 正确答案:
(单选题)4: The accounting equation may be expressed as（ ） A: Assets = Equities - Liabilities
B: Assets + Liabilities = Owner's Equity C: Assets = Revenues less Liabilities D: Assets - Liabilities = Owner's Equity 正确答案:
(单选题)5: Which of the following should not be considered cash by an accountant? A: coins
B: bank checking accounts C: postage stamps D: Petty cash funds 正确答案:
(单选题)6: The two most common specialized fields of accounting in practice are( ) A: forensic accounting and financial accounting B: managerial accounting and financial accounting C: managerial accounting and environmental accounting D: financial accounting and tax accounting systems 正确答案:
(单选题)7: The term \（ ）
A: merchandise held for sale in the normal course of business B: materials in the process of production or held for production C: supplies D: both A and B 正确答案:
(单选题)8: Under which method of cost flows is the inventory assumed to be composed of the most recent costs? A: average cost
B: last-in, first-out C: first-in, first-out D: weighted average 正确答案:
(单选题)9: What is the type of account and normal balance of Allowance for Doubtful Accounts? A: Contra asset, credit B: Asset, debit
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C: Asset, credit
D: Contra asset, debit 正确答案:
(单选题)10: The business entity concept means that A: the owner is part of the business entity
B: an entity is organized according to state or federal statutes C: an entity is organized according to the rules set by the FASB
D: the entity is an individual economic unit for which data are recorded, analyzed, and reported 正确答案:
(单选题)11: Cash dividends are usually not paid on which of the following? A: class B common stock B: preferred stock C: treasury stock
D: class A common stock 正确答案:
(单选题)12: All of the following occur with a double-entry accounting system except: A: The accounting equation remains in balance.
B: Each business transaction will have only two entries. C: Every transaction affects at least two accounts
D: The sum of all debits is always equal to the sum of all credits in each journal entry. 正确答案:
(单选题)13: Which of the following entries records the acquisition of office supplies on account?
A: Office Supplies, debit; Cash, credit B: Cash, debit; Office Supplies, credit
C: Office Supplies, debit; Accounts Payable, credit D: Accounts Receivable, debit; Office Supplies, credit 正确答案:
(单选题)14: The accounting equation may be expressed as( ) A: Assets = Equities - Liabilities
B: Assets + Liabilities = Owner's Equity C: Assets = Revenues less Liabilities D: Assets - Liabilities = Owner's Equity 正确答案:
(单选题)15: For accounting purposes, the business entity should be considered separate from its owners if the entity is( ) A: a corporation B: a proprietorship C: a partnership D: all of the above 正确答案:
(单选题)16: A characteristic of a fixed asset is that it is ( ) A: intangible
B: used in the operations of a business
C: held for sale in the ordinary course of the business D: none of the above 正确答案:
(单选题)17: Which of the following financial statements reports information as of a specific date?
A: income statement
B: statement of owner's equity C: statement of cash flows
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D: balance sheet 正确答案:
(单选题)18: When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are ( ) A: convertible bonds B: unsecured bonds C: debenture bonds D: callable bonds 正确答案:
(单选题)19: Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a A: credit to Sales Returns and Allowances B: debit to Merchandise Inventory C: credit to Merchandise Inventory D: debit to Cost of Merchandise Sold 正确答案:
(单选题)20: The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as （ ） A: solvency and leverage
B: solvency and profitability C: solvency and liquidity D: solvency and equity 正确答案:
(判断题)21: Paying an account payable increases liabilities and decreases assets A: 对 B: 错
正确答案:
(判断题)22: The book value of a fixed asset reported on the balance sheet represents its market value on that date. A: 对 B: 错
正确答案:
(判断题)23: Under the perpetual inventory system, when a sale is made, both the sale and cost of merchandise sold are recorded. A: 对 B: 错
正确答案:
(判断题)24: A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time. A: 错误 B: 正确 正确答案:
(判断题)25: During inflationary periods, the use of the LIFO method of costing inventory will result in a greater amount of net income than would result from the use of the FIFO method. A: 错误 B: 正确 正确答案:
(判断题)26: If bonds are sold for a discount, the carrying value of the bonds is equal to the face value less the unamortized discount. A: 对 B: 错
正确答案:
(判断题)27: When a stock dividend is declared, it becomes a liability
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A: 错误 B: 正确 正确答案:
(判断题)28: Bonds are sold at face value when the contract rate is equal to the market rate of interest. A: 对 B: 错
正确答案:
(判断题)29: The prices of bonds are quoted as a percentage of the bonds' market value. A: 错误 B: 正确 正确答案:
(判断题)30: The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense. A: 对 B: 错
正确答案:
(判断题)31: The accounting equation can be expressed as Assets - Liabilities = Owner's Equity. A: 对 B: 错
正确答案:
(判断题)32: In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement. A: 错误 B: 正确 正确答案:
(判断题)33: Dividends in arrears are liabilities of the corporation. A: 对 B: 错
正确答案:
(判断题)34: If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account. A: 错误 B: 正确 正确答案:
(判断题)35: A corporation is a business that is legally separate and distinct from its owners. A: 错误 B: 正确 正确答案:
(判断题)36: For strong internal control system over cash, it is important to have the duties related to cash receipts and cash payments divided among different employees. A: 错误 B: 正确 正确答案:
(判断题)37: Liability accounts are increased by debits. A: 对 B: 错
正确答案:
(判断题)38: During inflationary periods, an advantage of the LIFO inventory cost method is that it matches more recent costs against current revenues. A: 对 B: 错
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正确答案:
(判断题)39: Even when a trial balance is in balance, there may be errors in the individual accounts. A: 对 B: 错
正确答案:
(判断题)40: The statement of cash flows consists of an operating section, an income section, and an equity section. A: 错误 B: 正确 正确答案:
(判断题)41: An account receivable is typically classified as a revenue. A: 对 B: 错
正确答案:
(判断题)42: Investments in stocks that are expected to be held for the long term are listed in the stockholder's equity section of the balance sheet. A: 对 B: 错
正确答案:
(判断题)43: A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time. A: 对 B: 错
正确答案:
(判断题)44: Accounting Process is identifying, measuring, recording, and communicating economic information to permit informed judgments and decisions by users of information. A: 错误 B: 正确 正确答案:
(判断题)45: The matching concept supports reporting revenues and related expenses in the same period. A: 对 B: 错
正确答案:
(判断题)46: The investor carrying an investment by the equity method records cash dividends received as an increase in the carrying amount of the investment. A: 对 B: 错
正确答案:
(判断题)47: Accounting is a service that provides many different users with financial information to make economic decisions. A: 对 B: 错
正确答案:
(判断题)48: During inflationary periods, the use of the FIFO method of costing inventory will result in a greater amount of net income than would result from the use of the LIFO cost method. A: 对 B: 错
正确答案:
(判断题)49: Revenue accounts are increased by credits. A: 错误
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B: 正确 正确答案:
(判断题)50: Consuming goods and services in the process of generating revenues results in expenses. A: 错误 B: 正确 正确答案:
(单选题)1: A characteristic of a fixed asset is that it is （ ） A: intangible
B: used in the operations of a business
C: held for sale in the ordinary course of the business D: none of the above 正确答案:
(单选题)2: How is treasury stock shown on the balance sheet? A: as an asset
B: as a decrease in stockholders' equity C: as an increase in stockholders' equity
D: treasury stock is not shown on the balance sheet 正确答案:
(单选题)3: When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at ( ) A: a premium
B: their face value C: their maturity value D: a discount 正确答案:
(单选题)4: The accounting equation may be expressed as（ ） A: Assets = Equities - Liabilities
B: Assets + Liabilities = Owner's Equity C: Assets = Revenues less Liabilities D: Assets - Liabilities = Owner's Equity 正确答案:
(单选题)5: Which of the following should not be considered cash by an accountant? A: coins
B: bank checking accounts C: postage stamps D: Petty cash funds 正确答案:
(单选题)6: The two most common specialized fields of accounting in practice are( ) A: forensic accounting and financial accounting B: managerial accounting and financial accounting C: managerial accounting and environmental accounting D: financial accounting and tax accounting systems 正确答案:
(单选题)7: The term \（ ）
A: merchandise held for sale in the normal course of business B: materials in the process of production or held for production C: supplies D: both A and B 正确答案:
(单选题)8: Under which method of cost flows is the inventory assumed to be composed of the most recent costs? A: average cost
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B: last-in, first-out C: first-in, first-out D: weighted average 正确答案:
(单选题)9: What is the type of account and normal balance of Allowance for Doubtful Accounts? A: Contra asset, credit B: Asset, debit C: Asset, credit
D: Contra asset, debit 正确答案:
(单选题)10: The business entity concept means that A: the owner is part of the business entity
B: an entity is organized according to state or federal statutes C: an entity is organized according to the rules set by the FASB
D: the entity is an individual economic unit for which data are recorded, analyzed, and reported 正确答案:
(单选题)11: Cash dividends are usually not paid on which of the following? A: class B common stock B: preferred stock C: treasury stock
D: class A common stock 正确答案:
(单选题)12: All of the following occur with a double-entry accounting system except: A: The accounting equation remains in balance.
B: Each business transaction will have only two entries. C: Every transaction affects at least two accounts
D: The sum of all debits is always equal to the sum of all credits in each journal entry. 正确答案:
(单选题)13: Which of the following entries records the acquisition of office supplies on account?
A: Office Supplies, debit; Cash, credit B: Cash, debit; Office Supplies, credit
C: Office Supplies, debit; Accounts Payable, credit D: Accounts Receivable, debit; Office Supplies, credit 正确答案:
(单选题)14: The accounting equation may be expressed as( ) A: Assets = Equities - Liabilities
B: Assets + Liabilities = Owner's Equity C: Assets = Revenues less Liabilities D: Assets - Liabilities = Owner's Equity 正确答案:
(单选题)15: For accounting purposes, the business entity should be considered separate from its owners if the entity is( ) A: a corporation B: a proprietorship C: a partnership D: all of the above 正确答案:
(单选题)16: A characteristic of a fixed asset is that it is ( ) A: intangible
B: used in the operations of a business
C: held for sale in the ordinary course of the business
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D: none of the above 正确答案:
(单选题)17: Which of the following financial statements reports information as of a specific date?
A: income statement
B: statement of owner's equity C: statement of cash flows D: balance sheet 正确答案:
(单选题)18: When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are ( ) A: convertible bonds B: unsecured bonds C: debenture bonds D: callable bonds 正确答案:
(单选题)19: Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a A: credit to Sales Returns and Allowances B: debit to Merchandise Inventory C: credit to Merchandise Inventory D: debit to Cost of Merchandise Sold 正确答案:
(单选题)20: The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as （ ） A: solvency and leverage
B: solvency and profitability C: solvency and liquidity D: solvency and equity 正确答案:
(判断题)21: Paying an account payable increases liabilities and decreases assets A: 对 B: 错
正确答案:
(判断题)22: The book value of a fixed asset reported on the balance sheet represents its market value on that date. A: 对 B: 错
正确答案:
(判断题)23: Under the perpetual inventory system, when a sale is made, both the sale and cost of merchandise sold are recorded. A: 对 B: 错
正确答案:
(判断题)24: A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time. A: 错误 B: 正确 正确答案:
(判断题)25: During inflationary periods, the use of the LIFO method of costing inventory will result in a greater amount of net income than would result from the use of the FIFO method. A: 错误 B: 正确
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正确答案:
(判断题)26: If bonds are sold for a discount, the carrying value of the bonds is equal to the face value less the unamortized discount. A: 对 B: 错
正确答案:
(判断题)27: When a stock dividend is declared, it becomes a liability A: 错误 B: 正确 正确答案:
(判断题)28: Bonds are sold at face value when the contract rate is equal to the market rate of interest. A: 对 B: 错
正确答案:
(判断题)29: The prices of bonds are quoted as a percentage of the bonds' market value. A: 错误 B: 正确 正确答案:
(判断题)30: The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense. A: 对 B: 错
正确答案:
(判断题)31: The accounting equation can be expressed as Assets - Liabilities = Owner's Equity. A: 对 B: 错
正确答案:
(判断题)32: In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement. A: 错误 B: 正确 正确答案:
(判断题)33: Dividends in arrears are liabilities of the corporation. A: 对 B: 错
正确答案:
(判断题)34: If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account. A: 错误 B: 正确 正确答案:
(判断题)35: A corporation is a business that is legally separate and distinct from its owners.
南开19春学期(1709、1803、1809、1903)《会计专业英语》在线作业[标准答案]
