会计专业英语.docx

1、会计专业英语一、 words and phrases1. 残值 scrip value2. 分期付款 installment3. concern 企业4. reversing entry 转回分录5. 找零 change6. 报销 turn over7. past due 过期8. inflation 通货膨胀9. on account 赊账10. miscellaneous expense 其他费用11. charge 收费12. 汇票 draft13. 权益 equity14. accrual basis 应计制15. retained earnings 留存收益16. trad-in 易

2、新，以旧换新17. in transit 在途18. collection 托收款项19. 资产 asset20. proceeds 现值21. 报销 turn over22. dishonor 拒付23. utility expenses 水电费24. outlay 花费25. IOU 欠条26. Going-concern concept 持续经营27. 运费 freight二、 Multiple-choice question of the following does not describe accounting ( C )A. Language of business B. Use

3、ful ofr decision making C. Is an end rathe than a means to an end. by business, government, nonprofit organizations, and individuals. objective of financial reporting is to ( B )A. Assess the adequacy of internal control. information useful for investor decisions. management results compared with st

4、andards. information on compliance with established procedures. of the following statements is(are) correct( B ) depreciation represents a cash fund being accumulated for the replacement of plant assets. company may use different depreciation methods in its financial statements and its income tax re

5、turn. cost of a machine includes the cost of repairing damage to the machine during the installation process. use of an accelerated depreciation method causes an asset to wear out more quickly than does use of the unit-of-product method.4. Which of the following is(are) correct about a companys bala

6、nce sheet ( B ) displays sources and uses of cash for the period. is an expansion of the basic accounting equation is not sometimes referred to as a statement of financial position. is unnecessary if both an income statement and statement of cash flows are availabe. of financial reporting to externa

7、l investors and creditors include preparing information about all of the following except. ( A ) used to determine which products to poduce about economic resources, claims to those resources, and changes in both resources and claims. that is useful in assessing the amount, timing, and uncertainty o

8、f future cash flows. that is useful in making ivestment and credit decisions. of the following measures strengthens internal control over cash receipts except. ( C ) use of a petty cash fund. of a daily listing of all checks received through the mail. use of cash registers. deposit of cash receipts

9、in the bank on a daily basis. primary purpose for using an inventory flow assumption is to. ( A ) against revenue an appropriate cost of goods sold. the physical flow of units of merchandise. income taxes. the reported amount of net income. general terms, financial assets appear in the balance sheet

10、 at. ( B ) value value future sales value. the going-concem assumption is no longer valid for a company except. ( C ) held as an ivestment would be valued at its liquidation value. prepaid assets would be completely written off immediately. contributed capital and retained earnings would remain unch

11、anged. allowance for uncollectible accounts would be eliminated. of the following explains the debit and credit rules relating to the recording of revenue and expenses( C ) appear on the left side of the balance sheet and are recorded by debits;revenue appears on the right side of the balance sheet

12、and is reoorded by credits.B. Expenses appear on the left side of the income statement and are recorded by debits; Revenue appears on the right side of the income statement and is recorded by credits. effects of revenue and expenses on owners equity. realization principle and the matching principle.

13、 of the following statements is(are) correct( B ) depreciation represents a cash fund being accumulated for the replacement of plant assets. cost of a machine do not includes the cost of repairing damage to the machine during the installation prcess. company may use same depreciation methods in its

14、finacial statements and its income tax return. use of an accelerated depreciation method causes an asset to wear out more quickly than does use of the straight-line method. set of financial statements ( B ) except. intended to assist users in evaluating the financial position, profitability, and fut

15、ure prospects of an entity. intended to assist the Intemal Revenue Service in detemining the amount of income taxes owed by a business organization. notes disclosing information necessary for the proper interpretation of the statements. intended to assist investors and creditors in making decisions

16、inventory the allocation of economic resources. primary purpose for using an inventory flow assumption is to. ( B ) the physical flow of units of merchandise. against revenue an appropriate cost of goods sold income taxes. the reported amount of net income. all correct answers. In the accounting cyc

17、le. ( D ) are posted before they are journalized. trial balance is prepared after journal entries havent been posted. Retained Earnings account is not shown as an up-to-date figure in the trial balance. entries are posted to appropriate ledger accounts. to text, Objectives of Financial Reporting by

18、Business Enterprises. ( D ) users have the ability to prescribe information they want. is always based on exact measures. reporting is usually based on industries or the economy as a whole. accounting does not directly measure the value of a business enterprise. all correct answers. Dividends except

19、 ( A ) owners equity. net income recorded by debiting the Cash account a business expense of the following practices contributes to efficient cash management ( C ) borrow money-maintain a cash balance sufficient to make all necessary payments. all cash receipts and cash payments at the end of the mo

20、nth when reconciling the bank statements. monthly forecasts of planned cash receipts, payments, and anticipated cash balances up to a year in advance. each bill as soon as the invoice arrives. of the following would you expect to find in a correctly prepared income statement ( A ) earned during the

21、period. balance at the end of the period. by the owner during the period. incurred during the next period to earn revenues. of the following are important factors in ensuring the integrity of accounting information ( D ) factors, such as standards for preparing information. organizations, such as th

22、e American Institute of CPAs. judgment and ethical behavior of individual accountants of the above.三、 Practices1 , 2000, Mark Co, acquired equipment to use in its operations. The equipment has an estimated useful life of 10 years and an estimated salvage value of $5,000. The depreciation applicable

23、to this equipment was $40,000 for 2000, calculated under the sum-of the-years digits method. Required: Determine the acquisition cost of the equipment. ( C )A.$210,000 B.$250,000 C.$ D.$200,0002. On , 2002, Mark Co, acquired equipment to use in its operations. The equipment has an estimated useful l

24、ife of 10 years and an estimated salvage value of $5,000. The depreciation applicable to this equipment was $24,000 for 2004, calculated under the sum-of the-years digits method (4%). Required: Determine the acquisition cost of the equipment. ( C )A.$220,000 B.$250,000 C.$ D.$200,0003. October 1, 20

25、05, Coast Financial Ioaned Bart Corporation $3000,000, receiving in exchange a nine-month, 12 percent note receivable. Coast ends its fiscal year on December 31 and makes adjusting entries to accrue interest earned on all notes receivable. The interest earned on the note receivable from Bart Corpora

26、tion during 2006 will amount to. ( A )A.$9,000 B.$18,000 C.$ D.$36,000 Question: What is the reconciled balance ( B )A.$4,187 B.$4,085 C.$4,090 D.$4,000Required: Choose the reconciled balance. ( D )A.$3,220 B.$3,250 C.$3,200 D.$3,225Required:Calculate the cost of goods available for sale(C)A.$475,00

27、0 B.$474,000 C.$470,000 D.$473,000Required: Calculate the cost of goods sold ( D )A.$225,000 B.$254,000 C.$250,000 D.$253,000 the end of the current year, the accounts receivable account has a debit balance of $60,000 and net sales for the year total $100,000. The allowance account before adjunstmen

28、t has adebit balance of a $500, and uncollectible accounts expense is estimated at 1% of net sales. Question: The entry for the above bad debts is ( A ). Bad Debt Accts. $1,500 . Bad Debt Accts. $500Cr. Allowance Doubtful Accts. $1,500 Cr. Allowance Doubtful Accts. $500C. Dr. Bad Debt Accts. $1,000

29、D. Dr. Bad Debt Accts. $1,500 Cr. Accts Rec. $1,000 Cr. Accts Rec. $1,500 balance sheet items to The Oven Bakery(arranged in alphabetical order)were as follows at August 1,2005.(You are to compute the missing figure for retained earnings.)(4%)REQUIRED:Find Retained earnings at August 1 2005(D)A.$420

30、,000 B.$44,000 C.$40,000 D.$48,000Practices2Sue began a public accounting practice and completed these transactions during first month of the current year.Required: Choose the entries to record the following transactons. $50,000 cash in a public accounting practice begun this day. ( A ). Cash $50,00

31、0 . Capital Stock $50,000 Cr. Capital Stock $50,000 Cr. Cash $50,000 cash for three monts office rent in advance $900(B). Rent Exp. $900 . Prepaid Rent $900 Cr. Cash $900 Cr. Cash $900 the premium on two insurance policies, $300. ( ). Prepaid Insurance $300 . Insurance Exp $300 Cr. Cash $300 Cr. Cas

32、h $300 accounting work for Sun Bank on credit $1000. ( A ). Accts Rec $1000 . Cash $1000 Revenue $1000 Revenue $1000 the monthly utility bills of the accounting office $300 ( A ) Utility Exp $300 office Exp $300Cr. Cash $300 Cr. Cash $300Linda began a public accounting practice and completed these transactons during first month of the current year.