会计英文选择题16会计英文第二版复旦大学出版社的课后选择题.doc

1、1第一章1.What is the term used to describe the difference between a companys assets and its liabilities, also referred to as the residual interest in the assets of an entity that remains after deducting its liabilities? ( C )a. Net income. b. Shares. C.Owners Equity. D.Revenue.2.Which financial stateme

2、nt shows whether the business earned a profit and also lists the types and amounts of the revenues and expenses? ( D )A . Balance sheet. B. Statement of owners equity. C. Cash flow statement. D. Income statement.3.Which of the following is another term for ownets equity? ( C )a. Net income. b. Expen

3、ses. C.Net assets . d. Revenues.4. Which of the following is true of the accounting entity principle? ( C )a. Requires that sole proprietors have unlimited liability.b.Requires that partnership income be taxed at the partnership level.c.Means that business records should be kept separately from the

4、owners financial records.d.Requires that partnerships have written agreements.5.Which is the accounting guideline that requires financial statement information to be supported by evidence other than someones imagination or opinion? ( D )a. Accounting entity principle. B. Monetary unit principle. C.

5、Going-concern principle. D. Objectivity principle.6.If a business is not being sold or closed, the amounts reported in the accounts for assets used in operations are based on costs. This practice is justified by which principle? ( A )a. Cost principle. B. Accounting entity principle. C. Objectivity

6、principle. D. Monetary unit principle.7.If the liabilities of a business increased $12000 during a period of time and owners equity in the business decreased $2000 during the same period, the assets of the business must have increased or decreased by how much? ( C )a. Decreased $10000. b.Decresed $1

7、4000. c.Increased $10000. d .Increased $14000.8. A purchase of office equipment for cash of $130 was recorded as an addition to Offic equipment and an addition to Liabilities. By what amounts are the accounts under- or overstated as a result of this error?(“Understated” means too low, and “overstate

8、d” means too high.) ( D )a. Assets , understated $130; Liabilities, overstated $130.b. Office equipment, understated $260; Liabilities, overstated $130.c. Office equipment , overstated $130; Liabilities, overstated $130.d. Assets, overstated $130; Liabilities, overstated $130.9.What is the area of a

9、ccounting that prepares information primarily for external decision makers called? ( A )a. Financial accounting. B. Managerial accounting. C. Auditing. D. Budgeting.10. The following transactions occurred during July:2-Received $700 cash for photography services provided to customer during the month

10、 -Received $1500 cash from Barbara Jones, the owner of the business-Received $800 from a customer in partial payment of his account receivable which arose as a result of sales during June-Rendered photography services to a customer on credit ,$500-Borrowed $2500 from the bank -Received $1000 from a

11、customer in payment for services to be performed next year What was the amount of revenue for July? ( A )a. $ 1200 b. $ 3000 c. $ 5500 d. $7000第二章1. How do we record an asset created by a payment for economic benefits that does not expire until some later time ? ( B )a. Recorede as a debit to an une

12、arned revenue account.b. Recorded as a debit to a prepaid expense account.c. Recorded as a credit to an unearned revenue account.d. Recorded as a credit to a prepaid expense account.2. How do we record a liability created by the receipt of cash from customers in payment for products or services that

13、 have not yet been delivered to the customers? ( C ) a. Recorede as a debit to an unearned revenue account.b. Recorded as a debit to a prepaid expense account.c. Recorded as a credit to an unearned revenue account.d. Recorded as a credit to a prepaid expense account.3. During the month of February ,

14、 Hal Company had cash receipts of $6500 and cash disbursements of $8000.The February 28 cash blance was $4300. What was the beginning ( February 1 ) cash balance? ( C )a. $1500. b. $2800. c . $5800. d. $73004. Aimes opened a new bunsiness by investing the following assets : cash , $ 4000; land, $200

15、00; building, $80000. Also, the business will assume responsibility for a note payable of $32000. Aimes signed the note as part of his payment for the land and building. Which journal entry should be used on the books of the new business to record the investment by Aimes? ( D )A. Assets10400Aimes, c

16、apital10400 B. Assets104000Liability32000Aimes, capital 72000C. Cash 4000Land 200003Building80000Aimes, capital104000D. Cash 4000Land 20000Building80000Note payable 32000Aimes,capital 720005. Of the following independent errors, which one by itself will cause the trial balance to be out of balance ?

17、 ( B )a. A $200 salary payment posted as a $200 debit to Cash and a $200 credit to Salaries expense.b. A $100 receipt from a customer in payment of his account posted as a $100 debit to Cash and a $10 credit to Accounts receivable.c. A $75 receipt from a customer in payment of his account posted as

18、a $75 debit to Cash and a $75 credit to Cash.d. A $50 cash purchase of office supplies posted as a $50 debit to Office equipment and a $50 credit to Cash.6. What is the correct description of a general ledger? ( A )a. A book of final entry. b . A journal in which transactions are first recorded.c. A

19、 book in which a complete record of transactions is firstrecorded and from which transaction amounts are posted to the accounts.d. A cocument containing detailed descriptions of all transactions.7. On September 30, Account payable had a normal balance of $2300. During September the account was credi

20、ted for a total of $5400 and debited for a total of $3900. What was the balance in the Accounts payable at the beginning of September? ( C )a. A $-0- balance. b . An $800 debit balance. c . An $800 credit balance. d . A $3800 debit balance.8. Which of the following is a credit ? ( A )a. A decrease i

21、n an expense account. b . An increase in an asset account. c . A decrease in an unearned revenues account.d . A decrease in a liability account.9. Which column in journals and accounts is used to cross-reference journal and ledger entries? ( C )a. Account balance. b . Debit. c . Post Ref . d . Credi

22、t.410. On April 30, Hal Company had an Accounts Receivable balance of $37000.During the month of May , total credits to Accounts Receivable were $24000, which resulted from customer payments . The May 31 Accounts Receivable balance was $32000. What was the amount of credit sales during May ? ( A )a

23、. $19000. b . $29000. c . $45000. d . $56000.第三章1. If an accountant forgot to record Depreciation on office equipment at the end of an accounting period, which of the following would be true regarding the statements prepared at that time ? ( D )a.The assets are overstated and owners equity is unders

24、tated.b.The assets and owners equity are both understated.c.The assets are overstated ,net income is understated, and owners equity is overstated. d.The assets , net income and owners equity are overstated.2.The Crimson Cartage Company purchased a new truck at a cost of $42000 on July 1,2001.The tru

25、ck is estimated to have a useful life of 6 years and a salvage value of $6000. How much Depreciation expense will be recorded for the truck during the year ended December 31, 2001 assuming the straight line method? ( A )a. $2700 b. $2900 c. $3300 d. $35003.The Office Supplies account shows a beginni

26、ng balance of $600 and an ending balance of $400. If office supplies expense for the year is $3100, what amount of office supplies was purchased during the period? ( B )a. $2700 b. $2900 c. $3300 d. $35004. If accrued salaries were recorded on December 31 with a credit to Salaries Payable, what woul

27、d the entry to record payment of these wages on January 5 include? ( C )a. A debit to Cash and a credit to Salaries Payable.b. A debit to Cash and a credit to Prepaid Salaries.c. A debit to Salaries Payable and a credit to Cash.d. A debit to Salaries Payable and a credit to Salaries Expense.5. HCF ,

28、 a finance company , lends Able Business $2400 at 5% for 3 months on December 1 , 2001. What should HCFs adjusting entry on December 31 , 2001 include? ( C )a. A debit to Interest Earned for $10. b. A credit to Interest Receivable for $10.c. A credit to Interest Earned for $10.d. A debit to Cash for

29、 $10.6.Joshs Computer Business owns computer equipment that cost $6000 when it was purchased three years ago. Its current book value is $2400. what is the Depreciation expense per year using straight-line Depreciation? ( D )a. $800 b. $1000 c. $1100 d. $120057. Which of the following describes the c

30、urrent ratio? ( B )a. Is current assets divided by total liabilities.b. Helps to assess a companys ability to pay its debts in the near future.c. Reveals that the business has a very good cash flow position if it is less than 1.d. Is current liabilities divided by current assets.8.On the work sheet,

31、 the income statement debit column shows a total of $56500. The income statement credit column total is $52500 . What is the net income or net loss ? ( D )a. The net income of this business is $4000.b. The net income of this business is $5000.c. The net loss of this business is $3000.d. The net loss

32、 of this business is $4000.9. The Jon Godfrey, Capital account has a debit balance of $1200 before closing entries are made. If total revenues for the year are $55200 , total expenses $39800, and withdrawals are $9000 , what is the ending balance in the Jon Godfrey, Capital account after all closing

33、 entries have been made? ( A )a. $5200 b. $7600 c. $14200 d. $1660010. An error is indicated if the following account has a balance appearing on the post-closing trial balance: ( C )a. Office Equipment. b. Accumulated Depreciation, Office Equipment.c. Depreciation Expense, Office Equipment.d. Ted Na

34、sh , Capital.第四章1.Wallaby Company had net sales of $69400 and cost of goods sold of $360880 . What is the gross margin ratio? ( C )a. 0.48% b. 192% c. 48% d. 52%2.Which of the following is an explanation of cost of goods sold? ( B )a. Cost of goods sold is another term for sales.b. Cost of goods sol

35、d is the term used for the cost of buying and preparing merchandise.c. Cost of goods sold is an operating expense.d. Cost of goods sold is also called gross margin.3. Which of the following is a characteristic of merchandise inventory? ( D )a. Is a long-term asset. b. Can include supplies. c. Is an

36、invested asset. d . Is a current asset.4. Which phrase best describes a perpetual system? ( A )a. Gives a continual record of the amount of inventory on hand . b. Uses a purchases account for the cost of new purchases.c. Was historically used by companies that sold large quantities of low-balance it

37、ems.d. Eliminates the need for a physical inventory count.5. Which one of the following qualities is related to a periodic inventory system? ( C )6a. Gives more timely information.b. Is widely used in practice.c. Was historically usded by companies that sold large volumes of small, low-cost items.d.

38、 Provides point of sale data. 6. Z-Mart recorded the following journal entry : ( C )Accounts Payable2500Merchandise Inventory 50Cash2450What is this transaction?a. A return. b. A return and payment of the account payable.c. A payment of the account payable and recognition of a cash discount taken.d.

39、 A purchase and recognition of a cash discount taken.7.What transaction causes a debit to Sales returns and allowances and a credit to Accounts receivable? ( C )a. There is no such entry ; it should be a credit to Sales returns and allowances and a debit to Accounts receivable.b. This transaction is

40、 recorded by the purchaser and recognizes the return of merchandise.c. When a customer returns merchandise to the seller, this entry is recorded by the seller.d. There is no such entry; it should be a debit to Sales returns and allowances and a credit to Accounts payable.8.During the closing process

41、, all temporary debit and credit balance accounts are closed. Which of the following accounts would be closed with a debit? ( C )a. Sales Discounts. B. Cost of Goods Sold. c . Sales. D. Accumulated Deprciation.9. In a periodic system, the cost of merchandise inventory is determined by what? ( A )a.

42、The cost of merchandise on hand is determined by relating the quantities on hand (as determined by a physical count) to records showing each items original cost. b. Recording the cost of new merchandise in the purchases account.c. Reconciling the accounts for shrinkage.d. By maintaining up-to-date r

43、ecords.10. Aldrige Company purchased $1800 of merchandise on December 5, terms 2/10, n/15. On December 7.$200 worth of merchandise was returned by Aldrige to the supplier.On December 15, Aldrige paid the balance in full. What was the amount of the cheque? ( B )a. $200. b. $1568. c. $1600. d. $1800.第

44、五章1. CanTex had $54 in missing petty cash receipts. What is the correct treatment? ( A )a. Debit Cash Over and Short for $54. b. Credit Cash Over and Short for $54.c. Debit Petty Cash for $54. d. Credit Petty Cash for $54.72. Zimbooru Company had $12 in extra cash at the end of the day . What is the

45、 correct treatment? ( C )a. Credit Cash for $12. b. Debit Cash for $12c. Credit Cash Over and Short for $12. d. Debit Cash Over and Short for $12.3.The custodian of a $500 petty cash fund has $62.50 in coins and currency plus $432.50 in receipts at the end of thd month. What will the entry to replen

46、ish the petty cash fund include? ( D)a. A debit to Miscellaneous Expenses for $427.50.b. A credit to Cash Over and Short for $5.00.c. A credit to Cash for $432.50.d .A credit to Cash for $437.50.4. EpsCo plans to eliminate a $200 petty cash fund . The current balance in the account includes $45 inre

47、ceipts and $165 incurrency .What will the entry to eliminate the fund include? ( B )a. Debit to Cash Short and Over for $10. b . Debit to Cash for $165.c. Debit to Miscellaneous Expenses for $35. d. Credit to Petty Cash for $165.5.On what date does a 90-day note issued on July 10 mature? ( B )a. Oct

48、ober7. b. October8. c. October 9. d. October 10.6. Microtechs accounts receivable turnover was 7.5 for this year and 6.8 for last year. NetTechs turnover was 8.6for this year and 9for last year. Which of the following statements best explains the comparison between the two companies? ( A )a. NetTech has the better turnover for both years. b. Microtech has the better t