22春学期（高起本1709-1803、全层次1809-2103）《会计专业英语》在线作业-00002

试卷总分:100  得分:100

一、单选题 (共 20 道试题,共 40 分)

1.The journal entry a company uses to record the estimated accrued product warranty liability is ( )

A.debit Product Warranty Expense; credit Product Warranty Payable

B.debit Product Warranty Payable; credit Cash

C.debit Product Warranty Expense; credit Cash

D.debit Product Warranty Payable; credit Product Warranty Expense

2.If the two totals of a trial balance are not equal, it could be due to

A.an error in determining the account balances, such as a balance being incorrectly computed

B.recording the same transaction more than once

C.failure to record a transaction

D.recording the same erroneous amount for both the debit and the credit parts of a transaction

3.Austin, Inc. made a Prepaid Rent payment of $3,500 on January 1st. The company’s monthly rent is $700. The amount of Prepaid Rent that would appear on the January 31 balance sheet after adjustment is:

A.$2,800

B.$700

C.$3,500

D.$1,750

4.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

5.The inventory method that assigns the most recent costs to cost of good sold is

A.FIFO

B.LIFO

C.average

D.specific identification

6.Notes may be issued ( )

A.when assets are purchased

B.to creditor's to temporarily satisfy an account payable created earlier

C.when borrowing money

D.all of the above

7.The following are examples of external users of accounting information except:

A.government

B.customers

C.creditors

D.all of the above

8.The term "inventory" indicates （ ）

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

9.Current liabilities are（ ）

A.due, but not receivable for more than one year

B.due, but not payable for more than one year

C.due and receivable within one year

D.due and payable within one year

10.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

11.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

12.The method of accounting for investments in equity securities in which the investor records its share of periodic net income of the investee is the ( )

A.cost method

B.market method

C.income method

D.equity method

13.Expenses are reported on the( )

A.income statement

B.statement of owner's equity

C.statement of cash flows

D.balance sheet

14.The journal entry a company uses to record the estimated accrued product warranty liability is （ ）

A.debit Product Warranty Expense; credit Product Warranty Payable

B.debit Product Warranty Payable; credit Cash

C.debit Product Warranty Expense; credit Cash

D.debit Product Warranty Payable; credit Product Warranty Expense

15.The debt created by a business when it makes a purchase on account is referred to as an

A.account payable

B.account receivable

C.asset

D.expense payable

16.Deferred revenue is revenue that is

A.earned and the cash has been received

B.earned but the cash has not been received

C.not earned and the cash has not been received

D.not earned but the cash has been received

17.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?

A.owner's equity is overstated

B.cost of merchandise sold is overstated

C.gross profit is understated

D.net income is understated

18.On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the （ ）

A.Uncollectible accounts expense for the year

B.total of the accounts receivables written-off during the year

C.total estimated uncollectible accounts as of the end of the year

D.sum of all accounts that are past due.

19.The measurement bases exclude( )

A.Historical cost

B.Current cost

C.Sale price

D.Present value

20.Sinking Fund Cash would be classified on the balance sheet as （ ）

A.a current asset

B.a fixed asset

C.an intangible asset

D.an investment

二、判断题 (共 30 道试题,共 60 分)

21.If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.

22.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.

23.Treasury Stock is listed in the stockholders' equity section on the balance sheet.

24.Bonds are sold at face value when the contract rate is equal to the market rate of interest.

25.When old equipment is traded in for a new equipment, the difference between the list price and the trade in allowance is called boot.

26.Sales Discounts is a revenue account with a credit balance.

27.If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.

28.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.

29.During inflationary periods, an advantage of the LIFO inventory cost method is that it matches more recent costs against current revenues.

30.An account receivable is a claim against a customer arising from a sale on account.

31.The difference between Accounts Receivable and its contra asset account is called net realizable value.

32.Adjusting entries are needed to ensure that the revenue recognition and matching principles are followed.

33.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.

34.When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.

35.When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.

36.The effect of a sales return and allowance is a reduction in sales revenue and a decrease in cash or accounts receivable.

37.Primary users of accounting information are accountants.

38.An income statement is a summary of the revenues and expenses of a business as of a specific date.

39.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.

40.Before a stock dividend can be declared or paid, there must be sufficient cash.

41.When a stock dividend is declared, it becomes a liability

42.An account receivable is typically classified as a revenue.

43.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.

44.The statement of cash flows consists of an operating section, an income section, and an equity section.

45.A large retained earnings account means that there is cash available to pay dividends.

46.Liabilities that will be due within one year or less and that are to be paid out of current assets are called current liabilities.

47.The normal balance of the accumulated depreciation account is debit.

48.Under the cash basis for the accounting period concept, revenues and expenses are reported in the income statement in the period in which cash is received or paid.

49.Revenue accounts are increased by credits.

50.The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business.