财务会计英语 练习及答案ch02Word格式.docx

财务会计英语 练习及答案ch02Word格式.docx

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6.Consuminggoodsandservicesintheprocessofgeneratingrevenuesresultsinexpenses.

7.Prepaidexpensesareanexampleofanexpense.

8.UnearnedRevenuesareanexampleofaliability.

9.Drawingsareanexampleofanexpense.

10.Accountsintheledgerareusuallymaintainedinalphabeticalorder.

11.Dependingontheaccounttitle,therightsideoftheaccountisreferredtoasthecreditside.

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12.Todeterminethebalanceinanaccount,alwayssubtractcreditsfromdebits.

13.Unlessthetransactioniscompound,thedollaramountofthedebitsforeachtransactionisequaltothedollaramountofthecreditsforthattransaction,andthusthetermdouble-entrybookkeeping..

3OBJ:

03

14.Thedouble-entryaccountingsystemrecordseachtransactiontwice.

15.Theincreasesideofallaccountsisthenormalbalance.

16.Thejournalisthebookoforiginalentry.

17.Theprocessofrecordingatransactioninthejournaliscalledjournalizing.

18.Journalizingistheprocessofenteringamountsintheledger.

19.Transactionsarelistedinthejournalchronologically.

20.Journalizingtransactionsusingthedouble-entrybookkeepingsystemwilleliminatefraud.

21.Liabilityaccountsareincreasedbydebits.

22.Expenseaccountsareincreasedbycredits.

23.Revenueaccountsareincreasedbycredits.

24.Thenormalbalanceofacapitalaccountisadebit.

25.Thenormalbalanceofthedrawingaccountisadebit.

26.Thenormalbalanceofanexpenseaccountisacredit.

27.Thenormalbalanceofrevenueaccountsisacredit.

28.Withdrawalsdecreaseowner'

sequityandarelistedontheincomestatementasadeductionfromrevenue.

29.Theprocessoftransferringthedatafromthejournaltotheledgeraccountsisposting.

04

30.Thepostreferencenotationusedintheledgeristheaccountnumber.

31.Thepostreferencenotationusedinthejournalisthepagenumber.

32.Anotationinthepostreferencecolumnofthegeneraljournalindicatesthattheamounthasbeenpostedtotheledger.

33.Theorderoftheflowofaccountingdatais

（1）recordintheledger,

（2）recordinthejournal,（3）preparethefinancialstatements.

34.Foramonth'

stransactionsforatypicalmedium-sizedbusiness,thesalaryexpenseaccountislikelytohaveonlycreditentries.

35.Foramonth'

stransactionsforatypicalmedium-sizedbusiness,theaccountspayableaccountislikelytohaveonlycreditentries.

36.Whenabusinessreceivesabillfromtheutilitycompany,noentryshouldbemadeuntiltheinvoiceispaid.

37.Whenanownerinvestsassetsinthebusiness,thecapitalaccountincreasesduetorevenuebeingearned.

38.Whenanaccountspayableaccountispaidincash,theowner'

sequityinthebusinessdecreases.

39.Whenanaccountreceivableiscollectedincash,thetotalassetsofthebusinessincrease.

40.Aproofoftheequalityofdebitsandcreditsintheledgerattheendofanaccountingperiodiscalledabalancesheet.

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41.Atrialbalancedeterminestheaccuracyofthenumbers.

42.Evenwhenatrialbalanceisinbalance,theremaybeerrorsintheindividualaccounts.

43.Thetotalsatthebottomofthetrialbalanceandthetotalsatthebottomofthebalancesheetbothshowequalityandbalancing,andthereforeshouldbeequal.

44.Theerroneousarrangementofdigits,suchaswriting$45as$54,iscalledaslide.

06

45.Postingatransactiontwicewillcausethetrialbalancetotalstobeequal.

46.Journalizingatransactionwithboththedebitandthecreditfor$69insteadof$96willcausethetrialbalancetobeoutofbalance.

47.Theerroneousmovingofanentirenumberoneormorespacestotherightorleft,suchaswriting$75as$750,iscalledatransposition.

48.Postingapartofatransactiontothewrongaccountwillcausethetrialbalancetotalstobeunequal.

49.Horizontalanalysisisusedtocomparefinancialstatementsfromdifferentperiods.

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50.Horizontalanalysisisusedtocomparethefinancialstatementsofthesamecompanyfordifferentperiods.

51.Inhorizontalanalysis,thebaseforcomputingchangesisgenerallytheoldestperiod.

52.Horizontalanalysisisnotincommonusagetoday.

MULTIPLECHOICE

1.Accounts

a.

donotreflectmoneyamounts

b.

arenotusedbyentitiesthatmanufactureproducts

c.

arerecordsofincreasesanddecreasesinindividualfinancialstatementitems

d.

areonlyusedbylargeentitieswithmanytransactions

CDIF:

2.Agroupofrelatedaccountsthatcompriseacompleteunitiscalleda

journal

liability

ledger

transaction

3.Accountsareclassifiedintheledger

chronologically

alphabetically

inaccordancewiththeirappearanceinthefinancialstatements

sothataccountsusedmostoftenarelistedfirst

4.Revenueshouldberecognizedwhen

cashisreceived

theserviceisperformed

thecustomerplacesanorder

thecustomerchargesanorder

BDIF:

5.Whichofthefollowingaccountsisanowner'

sequityaccount?

Cash

AccountsPayable

PrepaidInsurance

JuliaDavis,Capital

DDIF:

6.Thegrossincreasesinowner'

sequityattributabletobusinessactivitiesarecalled

assets

liabilities

revenues

netincome

7.Achartofaccountsis

thesameasabalancesheet

usuallyalistingofaccountsinalphabeticalorder

usuallyalistingofaccountsinfinancialstatementorder

usedinplaceofaledger

8.Thedebitsideofanaccount

dependsonwhethertheaccountisanasset,liabilityorowner'

sequity

canbeeithersideoftheaccountdependingonhowtheaccountantsetupthesystem

istherightsideoftheaccount

istheleftsideoftheaccount

9.Anaccountissaidtohaveadebitbalanceif

theamountofthedebitsexceedstheamountofthecredits

therearemoreentriesonthedebitsidethanonthecreditside

itsnormalbalanceisdebitwithoutregardtotheamountsornumberofentriesonthedebitside

thefirstentryoftheaccountingperiodwaspostedonthedebitside

ADIF:

10.Whichstatement（s）concerningcashis（are）true?

cashwillalwayshavemoredebitsthancredits

cashwillneverhaveacreditbalance

cashisincreasedbydebiting

alloftheabove

11.Adebitmaysignifya（n）

decreaseinassetaccounts

decreaseinliabilityaccounts

increaseinthecapitalaccount

decreaseinthedrawingaccount

12.Whichofthefollowingtypesofaccountshaveanormalcreditbalance?

assetsandliabilities

liabilitiesandexpenses

revenuesandliabilities

capitalanddrawing

13.Whichofthefollowinggroupsofaccountshaveanormaldebitbalance?

revenues,liabilities,capital

capital,assets

liabilities,expenses

assets,expenses

14.Whichoneofthestatementsbelowisnotapurposeforthejournal?

toshowincreasesanddecreasesinaccounts

toshowachronologicalorderbydate

toshowacompletetransactioninoneplace

tohelplocateerrors

15.Acreditsignifiesadecreasein

drawing

capital

revenue

16.Acreditmaysignifya

decreaseinassets

decreaseinliabilities

decreaseincapital

decreaseinrevenue

17.Adebitsignifiesadecreasein

expenses

18.Whichofthefollowingapplicationsoftherulesofdebitandcreditistrue?

decreasePrepaidInsurancewithacreditandthenormalbalanceisacredit

increaseAccountsPayablewithacreditandthenormalbalanceisadebit

increaseSuppliesExpensewithadebitandthe