会计学原理英文版一单元习题Word格式.docx

会计学原理英文版一单元习题Word格式.docx

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9. 

Regulatorsoftenhavelegalauthorityovercertainactivitiesoforganizations. 

10. 

Internalusersincludelenders,shareholders,brokersandmanagers. 

11. 

Opportunitiesinaccountingincludeauditing,consulting,marketresearch,andtaxplanning. 

12. 

Identifyingtheproperethicalpathiseasy. 

13. 

TheSarbanes-OxleyAct（SOX）requireseachissuerofsecuritiestodisclosewhetherishasadoptedacodeofethicsforitsseniorfinancialofficersandthecontentsofthatcode. 

14. 

Thefraudtriangleassertsthattherearethreefactorsthatmustexistforapersontocommitfraud;

thesefactorsareopportunity,pressure,andrationalization.

15. 

TheSarbanes-OxleyAct（SOX）doesnotrequirepubliccompaniestoapplybothaccountingoversightandstringentinternalcontrols. 

16. 

Apartnershipisabusinessownedbytwoormorepeople. 

17.Ownersofacorporationarecalledshareholdersorstockholders. 

18.Inthepartnershipformofbusiness,theownersarecalledstockholders. 

19. 

Thebalancesheetshowsacompany’snetincomeorlossduetoearningsactivitiesoveraperiodoftime. 

20. 

TheFinancialAccountingStandardsBoardistheprivategroupthatsetsbothbroadandspecificaccountingprinciples. 

21. 

Thebusinessentityprinciplemeansthatabusinesswillcontinueoperatingforanindefiniteperiodoftime. 

22. 

Generallyacceptedaccountingprinciplesarethebasicassumptions,concepts,andguidelinesforpreparingfinancialstatements. 

23. 

Thebusinessentityassumptionmeansthatabusinessisaccountedforseparatelyfromotherbusinessentities,includingitsownerorowners.

24. 

Asageneralrule,revenuesshouldnotberecognizedintheaccountingrecordsuntilitisreceivedincash. 

25. 

Specificaccountingprinciplesarebasicassumptions,concepts,andguidelinesforpreparingfinancialstatementsandariseoutoflong-usedaccountingpractice. 

26. 

Generalaccountingprinciplesarisefromlong-usedaccountingpractices. 

27. 

Asoleproprietorshipisabusinessownedbyoneormorepersons. 

28. 

Unlimitedliabilityisanadvantageofasoleproprietorship. 

29. 

Understandinggenerallyacceptedaccountingprinciplesisnotnecessarytouseandinterpretfinancialstatements. 

30. 

TheInternationalAccountingStandardsboard（IASB）hastheauthoritytoimposeitsstandardsoncompaniesaroundtheworld. 

31. 

Objectivitymeansthatfinancialinformationissupportedbyindependentunbiasedevidence. 

32. 

Theideathatabusinesswillcontinuetooperateinsteadofbeingclosedorsoldunderliesthegoing-concernassumption.

33. 

Accordingtothecostprinciple,itispreferableformanagerstoreportanestimateofanasset'

svalue. 

34. 

Themonetaryunitassumptionmeansthatallinternationaltransactionsmustbeexpressedindollars. 

35. 

TheInternationalAccountingStandardsBoard（IASB）isthegovernmentgroupthatestablishesreportingrequirementsforcompaniesthatissuestocktothepublic. 

36. 

Alimitedliabilitycompanyoffersthelimitedliabilityofapartnershiporproprietorshipandthetaxtreatmentofacorporation. 

37. 

TheSecuritiesandExchangeCommission（SEC）isagovernmentagencythathaslegalauthoritytoestablishGAAP. 

38. 

Thethreecommonformsofbusinessownershipincludesoleproprietorship,partnership,andnon-profit. 

39. 

Thethreemajortypesofbusinessactivitiesareoperating,financing,andinvesting. 

40. 

Planningisdefininganorganization'

sideas,goals,andactions. 

41. 

Strategicmanagementistheprocessofdeterminingtherightmixofoperatingactivitiesforthetypeoforganization,itsplans,anditsmarkets. 

42. 

Planningactivitiesarethemeansanorganizationusestopayforresourceslikeland,buildings,andequipmenttocarryoutitsplans.

43. 

Investingactivitiesaretheacquiringanddisposingofresourcesthatanorganizationusestoacquireandsellitsproductsors.

44. 

Ownerfinancingreferstoresourcescontributedbycreditorsorlenders. 

45. 

Revenuesareincreasesinequityfromacompany'

searningactivities. 

46. 

Anetlossoccurswhenrevenuesexceedexpenses. 

47. 

Netincomeoccurswhenrevenuesexceedexpenses. 

48. 

Liabilitiesaretheowner'

sclaimonassets. 

49. 

Assetsaretheresourcesofacompanyandareexpectedtoyieldfuturebenefits. 

50. 

Owner’swithdrawalsareexpenses. 

51. 

Theaccountingequationcanberestatedas:

Assets-Equity=Liabilities. 

52. 

Theaccountingequationimpliesthat:

Assets+Liabilities=Equity. 

53. 

Owner'

sinvestmentsareincreasesinequityfromacompany'

searningsactivities. 

54. 

Everybusinesstransactionleavestheaccountingequationinbalance. 

55. 

Anexternaltransactionisanexchangeofvaluewithinanorganization. 

56. 

Fromanaccountingperspective,aneventisahappeningthataffectstheaccountingequation,butcannotbemeasured. 

57. 

sequityisincreasedwhencashisreceivedfromcustomersinpaymentofpreviouslyrecordedaccountsreceivable. 

58. 

Anowner'

sinvestmentinabusinessalwayscreatesanasset（cash）,aliability（notepayable）,andowner'

sequity（investment.） 

59. 

Returnonassetsisoftenstatedinratioformastheamountofaveragetotalassetsdividedbyincome. 

60. 

Returnonassetsisalsoknownasreturnoninvestment. 

61. 

Returnonassetsisusefultodecisionmakersforevaluatingmanagement,analyzingandforecastingprofits,andinplanningactivities. 

62.Arrow’snetincomeof$117millionandaverageassetsof$1,400millionresultsinareturnonassetsof8.36%. 

63. 

Returnonassetsreflectstheeffectivenessofacompany’sabilitytogenerateprofitthroughproductiveuseofitsassets. 

64. 

Riskistheuncertaintyaboutthereturnweexpecttoearn. 

65. 

Generallythelowertherisk,thelowerthereturnthatcanbeexpected. 

66. 

U.S.GovernmentTreasurybondsprovidehighreturnandlowrisktoinvestors. 

67. 

Thefourbasicfinancialstatementsincludethebalancesheet,incomestatement,statementofowner'

sequity,andstatementofcashflows. 

68. 

Anincomestatementreportsoninvestingandfinancingactivities. 

69. 

Abalancesheetcoversaperiodoftimesuchasamonthoryear. 

70. 

Theincomestatementdisplaysrevenuesearnedandexpensesincurredoveraspecifiedperiodoftimeduetoearningsactivities. 

71. 

Thestatementofcashflowsshowstheneteffectofrevenuesandexpensesforareportingperiod. 

72. 

Theincomestatementshowsthefinancialpositionofabusinessonaspecificdate. 

73. 

Thefirstsectionoftheincomestatementreportscashflowsfromoperatingactivities. 

74. 

Thebalancesheetisbasedontheaccountingequation. 

75. 

Investingactivitiesinvolvethebuyingandsellingofassetssuchaslandandequipmentthatareheldforlong-termuseinthebusiness. 

76. 

Operatingactivitiesincludelong-termborrowingandrepayingcashfromlenders,andcashinvestmentsorwithdrawalsbytheowner. 

77. 

Thepurchaseofsuppliesappearsonthestatementofcashflowsasaninvestingactivitybecauseitinvolvesthepurchaseofassets. 

78. 

Theincomestatementreportsonoperatingactivitiesatapointintime. 

79. 

Thestatementofcashflowsidentifiescashflowsseparatedintooperating,investing,andfinancingactivitiesoveraperiodoftime. 

80. 

Endingcapitalreportedonthestatementofowner’sequityiscalculatedbyaddingownerinvestmentsandnetlossesandsubtractingnetincomesandwithdrawals. 

MultipleChoiceQuestions

81. 

Accountingisaninformationandmeasurementsystemthatdoesallofthefollowingexcept:

A. 

Identifiesbusinessactivities.

B. 

Recordsbusinessactivities.

C. 

Communicatesbusinessactivities.

D. 

Doesnotusetechnologytoimproveaccuracyinreporting.

E. 

Helpspeoplemakebetterdecisions.

82. 

Technology:

Hasreplacedaccounting.

Hasnotchangedtheworkthataccountantsdo.

Hascloselylinkedaccountingwithconsulting,planning,andotherfinancials.

Inaccountinghasreplacedtheneedfordecisionmakers.

Inaccountingisonlyavailabletolargecorporations.

83.Theprimaryobjectiveoffinancialaccountingis:

Toservethedecision-makingneedsofinternalusers.

Toprovidefinancialstatementstohelpexternalusersanalyzeanorganization'

sactivities.

Tomonitorandcontrolcompanyactivities.

Toprovideinformationonboththecostsandbenefitsoflookingafterproductsands.

Toknowwhat,when,andhowmuchtoproduce.

84.Theareaofaccountingaimedatservingthedecisionmakingneedsofinternalusersis:

Financialaccounting.

Managerialaccounting.

Externalauditing.

SECreporting.

Bookkeeping.

85.Externalusersofaccountinginformationincludeallofthefollowingexcept:

Shareholders.

Customers.

Purchasingma