南开大学22秋学期（高起本1709-1803、全层次1809-2103）《会计专业英语》在线作业一

奥鹏南开在线作业满分答案参考

22秋学期（高起本1709-1803、全层次1809-2103）《会计专业英语》在线作业-00001

1.The two most common specialized fields of accounting in practice are( )
选项A：forensic accounting and financial accounting
选项B：managerial accounting and financial accounting
选项C：managerial accounting and environmental accounting
选项D：financial accounting and tax accounting systems
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2.The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as a month or year, is called a(n)
选项A：income statement
选项B：income statement
选项C：prior period statement
选项D：statement of owner's equity
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3.Low Company owns 40% of the voting stock of High Corporation and uses the equity method in recording this investment. High Corporation reported a $10,000 net loss. Low Corporation's entry would include a ( )
选项A：Debit to the investment account for $10,000
选项B：Debit to the investment account for $4,000
选项C：Credit to the investment account for $4,000
选项D：Debit to a loss account for $4,000
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4.The business entity concept means that
选项A：the owner is part of the business entity
选项B：an entity is organized according to state or federal statutes
选项C：an entity is organized according to the rules set by the FASB
选项D：the entity is an individual economic unit for which data are recorded, analyzed, and reported
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5.Debts owed by a business are referred to as（ ）
选项A：accounts receivables
选项B：equities
选项C：owner’s equity
选项D：liabilities
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6.On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the （ ）
选项A：Uncollectible accounts expense for the year
选项B：total of the accounts receivables written-off during the year
选项C：total estimated uncollectible accounts as of the end of the year
选项D：sum of all accounts that are past due.
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7.Notes may be issued ( )
选项A：when assets are purchased
选项B：to creditor's to temporarily satisfy an account payable created earlier
选项C：when borrowing money
选项D：all of the above
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8.The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner’s equity should equal
选项A：$212,000
选项B：$44,000
选项C：$128,000
选项D：$84,000
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9.During a period of falling prices, which of the following inventory methods generally results in the lowest balance sheet amount for inventory. ( )
选项A：average method
选项B：LIFO method
选项C：FIFO method
选项D：can not tell without more information
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10.Deferred revenue is revenue that is
选项A：earned and the cash has been received
选项B：earned but the cash has not been received
选项C：not earned and the cash has not been received
选项D：not earned but the cash has been received
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11.A characteristic of a fixed asset is that it is ( )
选项A：intangible
选项B：used in the operations of a business
选项C：held for sale in the ordinary course of the business
选项D：none of the above
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12.Current liabilities are( )
选项A：due, but not receivable for more than one year
选项B：due, but not payable for more than one year
选项C：due and receivable within one year
选项D：due and payable within one year
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13.If the two totals of a trial balance are not equal, it could be due to
选项A：an error in determining the account balances, such as a balance being incorrectly computed
选项B：recording the same transaction more than once
选项C：failure to record a transaction
选项D：recording the same erroneous amount for both the debit and the credit parts of a transaction
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14.Revenue should be recognized when（ ）
选项A：cash is received
选项B：the service is performed
选项C：the customer places an order
选项D：the customer charges an order
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15.The price at which a stock can be sold depends upon a number of factors. Which statement below is not one of those factors?( )
选项A：the financial condition, earnings record, and dividend record of the corporation
选项B：investor expectations of the corporation's earning power
选项C：how high the par value
选项D：general business and economic conditions and prospects
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16.What is the type of account and normal balance of Allowance for Doubtful Accounts?
选项A：Contra asset, credit
选项B：Asset, debit
选项C：A奥鹏南开在线作业满分答案参考sset, credit
选项D：Contra asset, debit
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17.If the maker of a promissory note fails to pay the note on the due date, the note is said to be( )
选项A：displaced
选项B：disallowed
选项C：dishonored
选项D：dishonored
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18.Which statement below is not a reason for a corporation to buy back its own stock.
选项A：resale to employees
选项B：bonus to employees
选项C：for supporting the market price of the stock
选项D：to increase the shares outstanding
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19.For accounting purposes, the business entity should be considered separate from its owners if the entity is（ ）
选项A：a corporation
选项B：a proprietorship
选项C：a partnership
选项D：all of the above
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20.The term "inventory" indicates ( )
选项A：merchandise held for sale in the normal course of business
选项B：materials in the process of production or held for production
选项C：supplies
选项D：both A and B
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21.When a stock dividend is declared, it becomes a liability
选项A：错误
选项B：正确
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22.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.
选项A：错误
选项B：正确
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23.When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.
选项A：对
选项B：错
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24.The double-entry accounting system records each transaction twice.
选项A：对
选项B：错
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25.Treasury Stock is listed in the stockholders' equity section on the balance sheet.
选项A：错误
选项B：正确
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26.The declaration of a stock dividend decreases a corporation's stockholders' equity and increases its liabilities.
选项A：对
选项B：错
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27.The order of the flow of accounting data is (1) record in the ledger, (2) record in the journal, (3) prepare the financial statements.
选项A：对
选项B：错
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28.Primary users of accounting information are accountants.
选项A：对
选项B：错
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29.The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense.
选项A：对
选项B：错
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30.In preparing bank reconciliation, the amount of outstanding checks is added to the balance per bank statement.
选项A：对
选项B：错
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31.An income statement is a summary of the revenues and expenses of a business as of a specific date.
选项A：对
选项B：错
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32.An account receivable is a claim against a customer arising from a sale on account.
选项A：对
选项B：错
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33.A sale of treasury stock may result in a decrease in paid-in-capital. All decreases should be charged to the Paid-In-Capital from Sale of Treasury account.
选项A：对
选项B：错
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34.Ordinarily, a corporation owning a significant portion of the voting stock of another corporation accounts for the investment using the equity method.
选项A：错误
选项B：正确
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35.The accounting equation can be expressed as Assets – Liabilities = Owner's Equity.
选项A：对
选项B：错
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36.An account receivable is a claim against a customer arising from a sale on account.
选项A：错误
选项B：正确
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37.The investor carrying an investment by the equity method records cash dividends received as an increase in the carrying amount of the investment.
选项A：对
选项B：错
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38.Under 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.
选项A：对
选项B：错
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39.Revenue accounts are increased by credits.
选项A：对
选项B：错
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40.A large retained earnings account means that there is cash available to pay dividends.
选项A：对
选项B：错
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41.Accounting is a service that provides many different users with financial information to make economic decisions.
选项A：对
选项B：错
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42.If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.
选项A：对
选项B：错
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43.The day on which the board of directors of the corporation distributes a dividend is called the declaration date.
选项A：对
选项B：错
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44.Investments in stocks that are expected to be held for the long term are listed in the stockholder's equity section of the balance sheet.
选项A：对
选项B：错
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45.Bonds are sold at face value when the contract rate is equal to the market rate of interest.
选项A：错误
选项B：正确
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46.A business using the perpetual inventory system, with its detailed subsidiary records, does not need to take a physical inventory.
选项A：错误
选项B：正确
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47.Information is material if its omission or misstatement could influence the economic decisions of users.
选项A：错误
选项B：正确
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48.When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.
选项A：对
选项B：错
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49.Any difference between the fair market values of the securities and their cost is a realized gain or loss.
选项A：错误
选项B：正确
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50.Under the periodic inventory system, the cost of merchandise sold is recorded when sales are made.
选项A：对
选项B：错
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