《会计专业英语》期末复习资料.docx

1、会计专业英语期末复习资料会计英语复习资料二、单项选择（红字为正确答案）：Financial reports are used byd.all of the above1. For accounting purposes, the business entity should be considered separate from its owners if the entity is（ ）d.all of the above2. Which of the following best describes accounting?b.is an information system that pr

2、ovides reports to stakeholders 3. Using accrual accounting, expenses are recorded and reported onlya.when they are incurred, whether or not cash is paid4. The measurement bases exclude( )c.Sale price 5. Debts owed by a business are referred to as（ ）d.liabilities6. Which of the following financial st

3、atements reports information as of a specific date?c.balance sheet7. Cash investments made by the owner to the business are reported on the statement of cash flows in thea.financing activities section8. The accounting equation may be expressed asd.Assets - Liabilities = Owners Equity 9. Which of the

4、 following groups of accounts have a normal credit balance?a.revenues, liabilities, capital10. Which of the following groups of accounts have a normal debit balance?d.assets, expenses 11. Which of the following types of accounts have a normal credit balance?c.revenues and liabilities 12. In the acco

5、unting cycle, the last step is（ ）a.preparing a post-closing trial balance13. Which of the following should not be considered cash by an accountant?c.postage stamps 14. A bank reconciliation should be prepared periodically because （ ）c.any differences between the depositors records and the banks reco

6、rds should be determined, and any errors made by either party should be discovered and corrected 15. The amount of the outstanding checks is included on the bank reconciliation as a(n) （ ）c.deduction from the balance per bank statement16. The asset created by a business when it makes a sale on accou

7、nt is termed c.accounts receivable 17. What is the type of account and normal balance of Allowance for Doubtful Accounts?a.Contra asset, credit 18. The term inventory indicates （ ）d.both A and B19. Merchandise inventory at the end of the year was understated. Which of the following statements correc

8、tly states the effect of the error? income is understated20.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?b.owners equity is overstated21.The inventory method that assigns the most recent costs to cost of good s

9、old isb.LIFO22.Under which method of cost flows is the inventory assumed to be composed of the most recent costs?b.first-in, first-out23. When the perpetual inventory system is used, the inventory sold is debited to ( )b.cost of merchandise sold24All of the following below are needed for the calcula

10、tion of depreciation except d.book value25. A characteristic of a fixed asset is that it isb.used in the operations of a business26. Accumulated Depreciation ( )c.is a contra asset account27. The two methods of accounting for investments in stock are the cost method and the （ ）b.equity method28. A c

11、apital expenditure results in a debit to （ ）d.an asset account29. Current liabilities are（ ）d.due and payable within one year30. The debt created by a business when it makes a purchase on account is referred to as anb.account payable31. Notes may be issued （ ）d.all of the above32.The cost of a produ

12、ct warranty should be included as an expense in the c.period of the sale of the product33. If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $100,000 will be c.Less than $100,00034. The interest rate specified in the bond indenture is calle

13、d the （ ）b.contract rate35. When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds ared.callable bonds36. When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at d.a discount37

14、. One potential advantage of financing corporations through the use of bonds rather than common stock is c.the interest expense is deductible for tax purposes by the corporation 38. Characteristics of a corporation include （ ）d.shareholders who have limited liability 39. Stockholders equity （ ）c.inc

15、ludes retained earnings and paid-in capital40. The excess of issue price over par of common stock is termed a(n) （ ）d.premium41. Cash dividends are usually not paid on which of the following?c.treasury stock42. Which of the following accounts below is reported in the paid-in capital/stockholders equ

16、ity section of the corporate balance sheet?d.Preferred Stock43. If preferred stock has dividends in arrears, the preferred stock must be d.convertible44. The primary purpose of a stock split is to b.reduce the market price of the stock per share45. Which statement below is not a reason for a corpora

17、tion to buy back its own stock.d.to increase the shares outstanding46. The liability for a dividend is recorded on which of the following dates? d.the date of declaration 47. In credit terms of 2/10, n/30, the 2 represents the d.percent of the cash discount 48. Revenue should be recognized when（ ）b.

18、the service is performed 49. The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as （ ）b.solvency and profitability50. Which of the following is not included in the computation of the quick ratio?a.inventory四、问答题：3Differentiate between

19、 financial accounting and managerial accounting.财务会计与管理会计的区别。Financial accounting is primarily concerned with the recording and reporting of economic data and activities for a business.Management accounting uses both financial accounting and estimated data to aid management in running day-to-day ope

20、rations and in planning future operations. 4The objective of financial reporting 财务报告的目标。参考答案：Overall objective（总体目标） of financial reporting is to provide financial information useful to external users in making economic decisions.(a) provide information about the financial position, performance and

21、 changes in financial position of an entity that is useful to a wide range of users in making economic decisions；（向使用者提供有关企业财务状况、经营成果和财务状况变动情况的信息，以利于其作出经济决策。）(b) show the results of the stewardship of management, or the accountability of management for the resources entrusted to it. （反映管理当局受托责任的履行结果

22、，或管理当局受托管理资源的责任。）5What are the recognition and measurement principles?财务报表要素的确认与计量原则。参考答案：(1) Recognition is the process of incorporating in the balance sheet or income statement an item that meet the definition of an element and satisfies the recognition criteria.Recognition Criteria 确认标准：a. The Pr

23、obability of Future Economic Benefit 未来经济利益流入的可能性Measurement Reliably计量的可靠性(2) Measurement is the process of determining the monetary amounts at which the elements of financial statements are to be recognized and carried in the balance sheet or income statement.Measurement Bases 计量基础：Historical cost

24、. 历史成本Current cost 现行成本Realizable (settlement) value可实现（清算）价值Present value 现值 8 Differentiate between the accrual basis and the cash basis.应计制与现金制的区别。参考答案：Under the accrual basis for the accounting period concept, revenues are reported in the income statement in the period in which they are earned.U

25、nder the cash basis for the accounting period concept, revenues and expenses are reported in the income statement in the period in which cash is received or paid. 9 What is the double-entry system? 简述复式记账法的含义参考答案：A system of recording transactions in a way that maintains the equality of the accounti

26、ng equation. The fundamental rule of double-entry bookkeeping is that debits must equal credits. For every transaction, there must be at least one debit and one credit.Debits must always equal credits for each transaction.Debits are always entered on the left side of an account and credits are alway

27、s entered on the right side. 10 What are the major types of adjusting entries? 调整分录的种类参考答案：Adjusting entries can be classified as either ：Prepayments or Accruals(1) Prepayments fall into two categories:a. Prepaid expense b. Deferred Revenue (Unearned Revenue)(2) Accruals fall into two categoriesa. A

28、ccrued expenses b. Accrued revenues 考核知识点:调整分录P72附4.10 参考课件第4章Companies are on a calendar or fiscal year and business transactions can cut across two years. Therefore, adjusting entries are needed to ensure that the revenue recognition and matching principles are followed. Adjusting entries can be c

29、lassified as either ：Prepayments or Accruals(1) Prepayments fall into two categories:a. Prepaid expenses: expenses have been paid in cash and are recorded as assets until they are used or consumed. b. Deferred Revenue (Unearned Revenue)：Revenues received in cash and recorded as liabilities before th

30、ey are earned.(2) Accruals fall into two categoriesa. Accrued expenses are expenses that have been incurred but not yet paid in cash and there is no original entry.b. Accrued revenues are revenues that have been earned but not yet received in cash.11. Describe the basic steps of the accounting cycle

31、.简述会计循环的步骤。参考答案：The accounting cycle (or accounting process) includes standardized procedures that are performed in sequence during every period. (会计循环，或称为会计程序，是在每个会计期间按照一定顺序处理业务的一套规范化的程序）It is called cycle because the steps repeated each accounting period.(1) Transactions are analyzed and recorded in th