基础会计英文版复习参考题.docx

基础会计英文版复习参考题.docx

《基础会计英文版复习参考题.docx》由会员分享，可在线阅读，更多相关《基础会计英文版复习参考题.docx（13页珍藏版）》请在冰豆网上搜索。

基础会计英文版复习参考题

1. Abusinessentityisregardedasseparatefromthepersonalactivitiesofitsownerswhetheritisasoleproprietorship,apartnership,oracorporation. 

True    False

2. Assetsneednotalwayshavephysicalcharacteristicssuchasbuildings,machineryorinventory. 

True    False

3. Thegoingconcernprincipleassumesthatthebusinesswillcontinueindefinitely. 

True    False

4. Notespayableandaccountspayablearewrittenpromisestopayanamountowedbyacertaindate.Notespayablegenerallyhaveinterestbutaccountspayablegenerallydonot. 

True    False

5. Anetprofitresultsfromhavingmorerevenuesthanliabilities. 

True    False

6. Thesaleofadditionalsharesofcapitalstockwillcausetreasurystocktoincrease. 

True    False

7. Articulationbetweenthefinancialstatementsmeansthattheyrelatecloselytoeachother. 

True    False

8. Limitedliabilitymeansthatownersofabusinessareonlyliableforthedebtsofthebusinessuptotheamountstheycanafford. 

True    False

9. Inabusinessorganizedasacorporation,itisnotnecessarytolisttheequityofeachstockholderonthebalancesheet. 

True    False

10. Totalassetsalwaysequaltotalliabilitiesplustotalowners'equity. 

True    False

11. Acashflowstatementreportsrevenueandexpenseactivitiesforaspecifictimeperiodsuchasonemonthoroneyear. 

True    False

12. Anybusinesseventthatmightaffectthefutureprofitabilityofabusinessshouldbereportedinitsbalancesheet. 

True    False

13. Totalassetsplustotalliabilitiesequalstotalowners'equity. 

True    False

14. Thepracticeofshowingassetsonthebalancesheetattheircostratherthanattheircurrentmarketvalueisexplainedinpartbythefactthatcostissupportedbyobjectiveevidencethatcanbeverifiedbyindependentexperts. 

True    False

15. Therealizationprinciplestatesthattheactivitiesofanentityshouldbekeptseparatefromthoseofitsowner. 

True    False

16. Theentityprinciplestatesthattheaffairsoftheownersarenotpartofthefinancialoperationsofabusinessentityandshouldbeseparated. 

True    False

17. Theaccountingequationmaybestatedas"assetsminusliabilitiesequalsowners'equity." 

True    False

18. Atransactionthatcausesanincreaseinanassetmayalsocauseadecreaseinanotherasset,anincreaseinaliability,oranincreaseinowners'equity. 

True    False

19. Thecollectionofanaccountreceivablewillcausetotalassetstodecrease. 

True    False

20. Thepaymentofaliabilitycausesanincreaseinowners'equity. 

True    False

21. Whenabusinessborrowsmoneyfromabank,theimmediateeffectisanincreaseintotalassetsandadecreaseinliabilitiesorowners'equity. 

True    False

22. Thepurchaseofanassetsuchasofficeequipment,forcashwillcauseowners'equitytodecrease. 

True    False

23. Theownerofasoleproprietorshipispersonallyliableforthedebtsofthebusiness,whereasthestockholdersofacorporationarenotpersonallyliableforthedebtsofthebusiness. 

True    False

24. Ifacompanypurchasesequipmentforcash,itstotalassetswillincrease. 

True    False

25. Ifacompanypurchasesequipmentbyissuinganotepayable,itstotalassetswillnotchange. 

True    False

26. Itisnotunusualforanentitytoreportasignificantincreaseincashfromoperatingactivities,butadecreaseinthetotalamountofcash. 

True    False

27. Thecashflowstatementprovidesalinkbetweentwobalancesheetsbyshowinghownetincome（orloss）haschangedowners'equityfromonebalancesheetdatetothenext. 

True    False

28. AccordingtoSarbanes-Oxley,internalcontrolsmustbeauditedbythesameaccountingfirmthatauditsthefinancialstatements. 

True    False

29. ThePublicCompanyAccountingOversightBoardwascreatedbytheAmericanInstituteofCPAstooverseethepublicaccountingprofession. 

True    False

30. Themajoroutgrowthfrombusinessfailuresandallegationsoffraudulentfinancialreportingduringthe1990'swasthepassageoftheSecuritiesandExchangeAct. 

True    False

Chapter02BasicFinancialStatementsAnswerKey

True/FalseQuestions

1. Abusinessentityisregardedasseparatefromthepersonalactivitiesofitsownerswhetheritisasoleproprietorship,apartnership,oracorporation. 

TRUE

AACSB:

ReflectiveThinking

AICPABB:

Legal

AICPAFN:

Reporting

LearningObjective:

2

LearningObjective:

8

2. Assetsneednotalwayshavephysicalcharacteristicssuchasbuildings,machineryorinventory. 

TRUE

AACSB:

ReflectiveThinking

AICPABB:

CriticalThinking

AICPAFN:

Measurement

LearningObjective:

2

3. Thegoingconcernprincipleassumesthatthebusinesswillcontinueindefinitely. 

TRUE