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Exercise
I. Multiple choices （15*2=30）
1. which of the following does not belong to source document?
A. sales order B. purchase order C. receipt D. ledger
2. The primary objective of financial reporting is ___. A. to present information in an ethical manner B. to provide information to the federal government
C. to provide information useful for investment and lending decisions
D. to provide information useful to managers in making daily decisions.
3. Which of the following is not an element of accounting equation? A. assets B. liabilities C. owner's equity D. capital
4. Which of the following statements is true?
A. Revenues are assets because they represent economic benefits. B. Assets are economic resources that are expected to benefit future
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periods.
C. The accounting equation can be stated as Assets + Liabilities = Owner’s Equity
D. Liabilities are economic obligations to insiders.
5. Aftin co. performed services on account. When Aftin collects the account receivable, ___ A. assets increase B. assets do not change C. owner’s equity decreases D. liabilities decrease
6. which of the following transactions would not affect owner's equity? A. Payment of an account payable B. Payment of salary expense C. Service provided on account D. Withdrawal of cash by owner 7. An income statement reports ____.
A. the assets, liabilities, and owner’s equity on a particular date B. the change in the owner’s capital during the period C. the cash receipts and cash payments during the period.
D. the difference between revenues and expenses during the period 8. If assets increase $ 80 000 during the period and owner’s equity decreases $ 16 000 during the period, liabilities must have __
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A. increased $ 64 000. B. increased $ 96 000 C. decreased $ 64 000 D. decreased $ 96 000
9. Which of the following items is not an element of the balance sheet? A. assets
B. expenses C. liabilities
D. stockholder’s equity
10. To record the increases and decreases, which of the following items uses the same debit and credit rule as assets?
A. expenses B. revenues C. liabilities D. owners’ equity
11. The listing of the accounts by title and numerical designation is called ____.
A. a balance sheet B. a ledger
C. a chart of accounts D. a journal
12. which of the following financial statements shows the financial
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position of a business entity at a specified date? A. balance sheet B. income statement C. cash flow statement
D. statement of retained earnings.
13. At convenient intervals, the debit and credit amounts recorded in the journals are transferred to the accounts in the ___. A. balance sheet B. ledger C. trial balance D. income statement
14. The income statement prepared at the end of a year is called ____. A. monthly income statement B. quarterly income statement C. annual income statement D. interim income statement
15. we can say that an income statement is used to summarize the operating results of a business by matching the revenue earned during a given times period with ___ incurred in obtaining that revenue. A. revenue B. expenses C. gains
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D. cash disbursements
16. ____ activities are the principal revenue producing activities of the enterprise and the related expenditures. A. operating B. investing C. financing D. managing
17. Transferring transaction data from the journal to the ledger is called ____. A. posting B. recording C. journalizing D. interpreting
18. ___ can not be grouped into selling expenses. A. advertising B. sales salaries C. delivery service outlay D. inventory
19. in accounting cycle, the first step is to ____. A. journalize transactions B. identify transactions
C. post information from journal to ledger
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Exercise外企财务英语考试题
