最新财务会计题库 Transaction AnalysisWord文档下载推荐.docx

最新财务会计题库 Transaction AnalysisWord文档下载推荐.docx

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S2-5

2.1-2ThetrialbalanceisaNOTaformalaccountingstatement.

TrueLO:

1EOC:

S2-25

2.1-3AccruedLiabilitiesisaliabilityaccount.

E2-28

2.1-4Theretainedearningsaccountrepresentstheexcessofnetincomeoverdividendsretainedinthebusinesssinceitsinception.

P2-50A

2.1-5Expenseaccountsalwaysrepresentexpiredassets.

E2-11

2.1-6Thedividendsaccountindicatesanincreaseincommonstock.

E2-15

2.1-7Double-entryaccountingrecordsonlythosetransactionsaffectingtheincomestatement.

QC8

2.1-8Thepurchaseofofficeequipmentforcashwouldincreasebothanassetandaliabilityaccount.

P2-49A

2.1-9WhichofthefollowingisNOTanassetaccount?

A.AccountsReceivable

B.PrepaidRent

C.CommonStock

D.Alloftheseareassetaccounts.

CLO:

2.1-10Prepaidexpenseaccountsappearon:

A.theincomestatement.

B.thebalancesheet.

C.thestatementofretainedearningsandontheincomestatement.

D.boththeincomestatementandbalancesheet.

BLO:

P2-56A

2.1-11Theterm"

double-entryaccounting"

indicatesthattheaccountant:

A.recordsbothsidesofeachtransactionintheaccountsaffected.

B.computestheincomestatementandbalancesheeteffectofeachtransaction.

C.identifiesboththecashinflowsandthecashoutflows.

D.usesboththegeneraljournalandthegeneralledgerwhenrecordingtransactions.

ALO:

QC8

2.1-12Acompanyreceivedcashinexchangeforissuingstock.Thistransactionincreasedassetsand:

a.increasedexpenses.

b.increasedrevenues.

c.increasedliabilities.

d.increasedequity.

DLO:

E2-16

2.1-13Acompanypurchasedofficesuppliesforcash.Thistransactionincreasedassetsand:

A.increasedequity.

B.increasedliabilities.

C.increasedrevenues.

D.decreasedassets.

QC10

2.1-14Acompanyperformedservicesforacustomeronaccount.Thistransactionincreasedassetsand:

A.decreasedequity.

C.increasedexpenses.

D.increasedrevenues.

QC3

2.1-15Acompanypaidcashforemployeewages.Thistransaction:

A.increasedcashandincreasedexpenses.

B.increasedcashanddecreasedexpenses.

C.decreasedcashandincreasedexpenses.

D.decreasedcashanddecreasedrevenues.

2.1-16Acompanypaidcashforanamountowedtoacreditor.Thistransactiondecreasedcashand:

A.decreasedrevenues.

B.decreasedliabilities.

C.decreasedexpenses.

D.increasedexpenses.

2.1-17Theownerofabusinesspaidcashfromhispersonalcheckingaccounttopurchaseanautomobileforhispersonaluse.Thistransaction:

A.increasedaliabilityaccountandincreasedliabilities.

B.decreasedcashandincreasedexpenses.

C.increasedassetsandincreasedowners’equity.

D.isnotatransactionrecognizedbythebusiness.

2.1-18Whichtypeofaccountisincreasedwhenacompanyrecordsadebt?

A.Expense

B.Retainedearnings

C.Liability

D.Noneoftheabovearecorrect.

QC1

2.1-19AllofthefollowingaccountswouldbeconsideredassetsEXCEPTfor:

A.cash.

B.retainedearnings.

C.prepaidexpenses.

D.notesreceivable.

S2-9

2.1-20Whattypeofaccountisprepaidinsurance?

A.Aliability

B.Anexpense

C.Stockholders’equity

D.Anasset

2.1-21Whichofthefollowingaccountsareastandardcomponentofstockholders’equity?

A.PrepaidExpenses

B.Dividends

C.AdditionalPaidInStock

D.UnearnedIncome

2.1-22Notespayable,accountspayable,taxespayableandsalariespayableareallexamplesof:

A.liabilities.

B.revenues.

C.expenses.

D.assets.

2.1-23Whichtypeofaccountisdecreasedwhenacompanypaysitsemployeeswithcash?

A.Aliability

B.Aprepaidasset

C.Anasset

D.Owners’equity

2.1-24WhichofthefollowingbusinesseventswouldNOTberecordedinacompany’saccountingrecords?

A.Thecompanypaidamonthlyutilitybillof$1,000.

B.Thecompanyissued