会计英语基础指导.docx

1、会计英语基础指导选择题(1). A t the end of the accounting period, accounts receivable has a balance of $200,000 and allowance for receivable has a credit balance of $2,500. The amount of net accounts receivable at the end of accounting period is ( B ) A. $2,500 B. $ 197,500 C. $8,500 D. $200,000(2). The basic p

2、urpose of offering customers cash discount is to ( C )A. increase sales B. reduce net sales C. speed up the collection of accounts receivable D. focus managements attention upon customers that fail to take advantage of all available cash discount(3). If a corporation has outstanding 1,000 shares of

3、$9 cumulative preferred stock of $100 par and dividends have been passed for the preceding three years, what is the amount of preferred dividends that must be declared in the current year before a dividend can be declared on common stock? ( C ) A. $9,000 B. $27,000 C. $36,000 D. $45,000(4). The stoc

4、kholders equity section of the balance sheet may include ( D )A. Common stockB. Preferred stockC. Retained earningsD. All of the above(5). Declaration and issuance of a dividend in stock ( C )A. Increases the current ratioB. Decrease the amount of working capitalC. Decrease total stockholders equity

5、D. Has no effect on total assets, liabilities, or stockholders equity(6). A company declared a cash dividend on its common stock on Dec 15, 2004, payable on Jan 15, 2005. How would this dividend affect shareholders equity on the following dates? ( B ) Dec 15 2004 Jan 15 2005A. Decrease DecreaseB. No

6、 effect No effectC. No effect IncreaseD. Decrease No effect(7). Revenue include ( D )A. The amount earned from providing goods to customers.B. The amount received from borrowing.C. The amount earned from providing services to customers.D. Both A and C. (8). An example of a cash flow from an operatin

7、g activity is ( D )A. The receipt of cash from issuing stockB. The receipt of cash from issuing bondsC. The payment of cash for dividendsD. The receipt of cash from customers on account9. The basic purpose of offering customers cash discounts such as 2/10, n/30 is to( )A. Increase sales.B. Reduce ne

8、t sales.C. Speed up the collection of accounts receivable.D. Focus managements attention upon customers that fail to take advantage of all available cash discounts.10. A potential future liability arising from an event that has already happened, usually is called ( B )A. an accrued liability. B. a c

9、ontingent liability.C. a deferred liability. D. an estimated liability.12.What is the normal balance of the Accounts Receivable ,Office Supplies, and Rent Expense accounts? ( A ) A.Debit B.CreditC.Debit or Credit D.None of the Above13. Which Principle or the assumption holds that the business will c

10、ontinue in operation ?( C ) A.Objectivity Principle B.Accounting Entity ConceptC.Going- Concern Assumption D.Accounting Period Assumption15. On March 1, Wright Company purchased new equipment for $50,000. Wright paid cash for the equipment. Other costs associated with the equipment were: transportat

11、ion costs, $1,000; sales tax paid $3,000; and installation cost, $2,500. The cost recorded for the equipment was ( A )A. $56,500. B. $54,000. C. $51,000. D. $50,000.16. Declaration and issuance of a dividend in stock ( )A. Increases the current ratioB. Decrease the amount of working capitalC. Decrea

12、se total stockholders equityD. Has no effect on total assets, liabilities, or stockholders equity17. A businesss assets are ( B )A. equal to liabilities minus stockholders equity.B. the economic resources of the business.C. Reported at current cost.D. Reported on the income statement.18. At the end

13、of the accounting period, accounts receivable has a balance of $100,000 and allowance for receivables has a balance of $7,000. The net accounts receivable value is ( B )A. $7,000 B. $93,000C. $100,000 D. $107,00020. The basic structure of an account includes ( D )AA title BA left sideCA right side D

14、All of the above21. If merchandise inventory is being valued at cost and the price level is steadily rising, the method of costing that will yield the higher net income is ( B ) A. LIFO B. FIFO C. Average D. Periodic22. Which of the following costs should not be included in the inventory valuation o

15、f a manufacturing business? ( B )A. Depreciation on the plant and machinery.B. Salary of salesmanC. Factory supervisors salaryD. Electricity for factory23. If a company has liabilities of $32000 and owners equity of $51000, the assets of the company are ( C ) A. $39000 B. $61000C. $83000 D. $2200024

16、. At 30 April 2005, Gareth has a receivable balance of $50,000 and an allowance for receivable of $800. Following a review of receivable, Gareth wishes to write off an irrecoverable debt of $1,000 and adjust his allowance to 5% of Receivables. What will be the adjusted balance of the allowance for r

17、eceivables? ( B )A. $1,650B. $2,450C. $2,500D. $3,45025. An example of a cash flow from a financing activity is ( C ) A. The receipt of cash from customers on account B. The receipt of cash from the sale of equipment C. The payment of cash for dividends D. The payment of cash to acquire marketable s

18、ecurities26. An example of a cash flow from an operating activity is ( )A. The receipt of cash from issuing stockB. The receipt of cash from issuing bondsC. The payment of cash for dividendsD. The receipt of cash from customers on account27Assuming that net purchases cost $250,000 during the year an

19、d that the ending stock was $4,000, The value of beginning stock is $30,000, how much was cost of goods sold? ( D )A. $280,000B. $246,000C. $254,000D. $276,00030The major expense of a merchandising business is ( A )ACost of goods sold BRent CDepreciation DInterest31Which of the following statements

20、is true? ( B )A. Gross profit - Cost of goods sold = Net salesB. Net sales + Gross profit = Cost of goods soldC. Gross profit = Net sales - Cost of goods soldD. Net sales + Cost of goods sold = Gross profit38The assets should be recorded at acquisition cost in order to meet the requirement of B AObj

21、ectivity BHistorical costCGoing-concern Assumption DTimeliness39. An accrued expense can best be described as an amount D A. Paid and currently matched with revenue B. Paid and nit currently matched with revenueC. Not paid and not currently matched with revenueD. Not paid and currently matched with

22、revenue42Posting is the process of transferring information from the DAJournal to the trial balance BLedger to the trial balanceCLedger to the financial statements DJournal to the ledger43A companys trial balance failed to agree, the totals being:Debit $815,602 Credit $808,420Which one of the follow

23、ing errors could fully account for the difference? AA.The omission from the trial balance of the balance on the insurance expense account $7,182 debitB. Discount allowed $3,591 debited in error to the discount received accountC. No entries made in the records for cash sales totalling $7,182D.The ret

24、urns outwards total of $3,591 was included in the trial balance as a debit balance44.If a company has current liabilities of $32000 , owners equity of $51000, and the assets has a total amount of $103000,and whats the balance of non-current liability of the company A. $39000 B. $61000C. $83000 D. $2

25、000045Which of the following accounts is an asset account ?AAPrepaid rent BAdvertisingExpenseCUnearned Revenue DWithdrawals46. An adjusting entry could contain all of the following except A A. convert asset to liabilityB. convert asset to expenseC. accrual uncollected expenseD. convert liability to

26、revenue47.Which of the following accounts is a liabilities account ? ( C )APrepaid insurance BGasolineExpenseCUnearned Revenue DDividends48. Whats the type of Depreciation( B )Aliability account Basset accountCequity account Dcost account判断题1.Accounting is another word for bookkeeping. ( F )2.Intern

27、ally generated goodwill can be viewed as intangible assets. ( F )3. Total assets are $70,000, total liabilities, $40,000 and contributed capital is $20,000; therefore, retained earnings are $15,000. ( F )4.The ledger (T-accounts) contains information which has been posted from the journal. . ( T )5.

28、 A decision maker who wants to understand a companys financial statements must carefully read the notes to the financial statements because the notes provide useful supplemental information. ( T )6. Legal and contractual provisions can determine the useful life of an intangible asset. ( T )7.Credit

29、terms 2/10, n/30 mean that if payment is made in two days, a 10% discount will be given; if not paid within two days, the full invoice price will be due in thirty days. ( F )8.Patents and trademarks are examples of tangible assets. ( F )9.The appropriation of retained earnings is to establish a cash

30、 fund for a specific purpose. ( F )10.Building and equipment are recorded at their cost at acquisition and are subsequently reported at cost plus accumulated depreciation. F 11.Accounts receivable is a receivable created by selling merchandises or providing service on credit. ( T )12. Equipment such

31、 as machinery, furniture and tools should be amortized. ( F )13. Once the expected useful life and estimated net residual value are determined, they shall not be changed under any circumstances. ( F )14. Appropriation of retained earnings has no effect on total shareholders equity. ( F )15. If the board of directors announces stock dividends distribution, the total stockholders equity will decrease. ( F )16. Dividends are an expense of a corporation and should be charged to the periodic income. ( F