南开大学23年春《会计专业英语》在线作业二

奥鹏南开大学新学期作业参考

23春学期（仅限-高起专1903、专升本1903）《会计专业英语》在线作业-00002

If the allowance method of accounting for uncollectible receivables is used, what general ledger account is credited to write off a customer's account as uncollectible?
A:Uncollectible Accounts Expense
B:Accounts Receivable
C:Allowance for Doubtful Accounts
D:Interest Expense
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All of the following below are needed for the calculation of depreciation except（ ）
A:cost
B:residual value
C:estimated life
D:book value
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The income statement is prepared from( )
A:the adjusted trial balance.
B:the income statement columns of the work sheet.
C:either the adjusted trial balance or the income statement columns of the work sheet.
D:both the adjusted trial balance and the income statement columns of the work sheet.
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Which of the following groups of accounts have a normal debit balance?
A:revenues, liabilities, capital
B:capital, assets
C:liabilities, expenses
D:assets, expenses
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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 ( )
A:solvency and leverage
B:solvency and profitability
C:solvency and liquidity
D:solvency and equity
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Characteristics of a corporation include （ ）
A:shareholders who are mutual agents
B:direct management by the shareholders (owners)
C:its inability to own property
D:shareholders who have limited liability
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The account Unrealized Gain (Loss) on Available-For-Sale Securities should be included in the( )
A:Income statement as Other Revenue (Expenses)
B:Balance sheet as an adjustment to the asset account
C:Balance sheet as an adjustment to Stockholders' Equity
D:Statement of Retained Earnings
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Financial statements in which financial data for two or more companies are combined as a single entity are called
A:conventional statements
B:consolidated statements
C:audited statements
D:constitutional statements
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Debts owed by a business are referred to as( )
A:accounts receivables
B:equities
C:owner’s equity
D:liabilities
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Which statement below is not a reason for a corporation to buy back its own stock.
A:resale to employees
B:bonus to employees
C:for supporting the market price of the stock
D:to increase the shares outstanding
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The amount of the outstanding checks is included on the bank reconciliation as a(n) ( )
A:deduction from the balance per depositor's records
B:addition to the balance per bank statement
C:deduction from the balance per bank statement
D:addition to the balance per depositor's records
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A capital expenditure results in a debit to （ ）
A:an expense account
B:a capital account
C:a liability account
D:an asset account
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The two methods of accounting for investments in stock are the cost method and the ( )
A:straight-line method
B:equity method
C:liability method
D:interest method
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Cash dividends are usually not paid on which of the following?
A:class B common stock
B:preferred stock
C:treasury stock
D:class A common stock
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Financial reports are used by( )
A:management
B:creditors
C:investors
D:all of the above
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Profit is the difference between
A:assets and liabilities
B:the incoming cash and outgoing cash
C:he assets purchased with cash contributed by the owner and the cash spent to operate the business
D:the amounts received from customers for goods or services and the amounts paid for
the inputs used to provide the goods or services
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A capital expenditure results in a debit to ( )
A:an expense account
B:a capital account
C:a liability account
D:an asset account
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Using accrual accounting, expenses are recorded and reported only（ ）
A:when they are incurred, whether or not cash is paid
B:when they are incurred and paid at the same time
C:if they are paid before they are incurred
D:if they are paid after they are incurred
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Which of the following concepts relates to separating the reporting of business and personal economic transactions?
A:Cost Concept
B:Unit of Measure Concept
C:Business Entity Concept
D:Objectivity Concept
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All of the following occur with a double-entry accounting system except:
A:The accounting equation remains in balance.
B:Each business transaction will have only two entries.
C:Every transaction affe奥鹏南开大学新学期作业参考 代做2元一门cts at least two accounts
D:The sum of all debits is always equal to the sum of all credits in each journal entry.
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The adjusted trial balance verifies that total debits equals total credits before the adjusting entries are prepared.
A:对
B:错
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Bonds are sold at face value when the contract rate is equal to the market rate of interest.
A:错误
B:正确
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Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.
A:对
B:错
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The normal balance of the accumulated depreciation account is debit.
A:对
B:错
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The accrual basis of accounting requires revenue be recorded when cash is received from customers.
A:错误
B:正确
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A corporation is a business that is legally separate and distinct from its owners.
A:错误
B:正确
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The units of production depreciation method matches expenses against revenue the best.
A:对
B:错
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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.
A:对
B:错
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If a company has issued only one class of stock, the earnings per share are determined by dividing net income plus interest expense by the number of shares outstanding.
A:对
B:错
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Overall objective of financial reporting is to provide financial information useful to internal users in making economic decisions.
A:错误
B:正确
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A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time.
A:对
B:错
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Temporary investments are reported on the balance sheet at cost.
A:错误
B:正确
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Ordinarily, a corporation owning a significant portion of the voting stock of another corporation accounts for the investment using the equity method.
A:错误
B:正确
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When old equipment is traded in for a new equipment, the difference between the list price and the trade in allowance is called boot.
A:错误
B:正确
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Paying an account payable increases liabilities and decreases assets
A:错误
B:正确
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Even when a trial balance is in balance, there may be errors in the individual accounts.
A:对
B:错
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The cost of new equipment is called a revenue expenditure because it will help generate revenues in the future.
A:错误
B:正确
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The increase side of all accounts is the normal balance.
A:错误
B:正确
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Revenue is earned only when money is received.
A:错误
B:正确
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Every adjusting entry will affect at least one income statement account and one balance sheet account.
A:对
B:错
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Primary users of accounting information are accountants.
A:对
B:错
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Before a stock dividend can be declared or paid, there must be sufficient cash.
A:对
B:错
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The double-entry accounting system records each transaction twice.
A:错误
B:正确
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Merchandise that is returned to the vendor is referred to as a sales allowance.
A:对
B:错
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If bonds are sold for a discount, the carrying value of the bonds is equal to the face value less the unamortized discount.
A:对
B:错
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Amortization is the allocation process of writing off bond premiums and discounts to interest expense over the life of the bond issue.
A:对
B:错
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The matching concept requires expenses be recorded in the same period that the related revenue is recorded.
A:错误
B:正确
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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.
A:对
B:错
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Under the equity method, a stock purchase is recorded at its original cost and is not adjusted to fair market value each accounting period.
A:对
B:错
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The day on which the board of directors of the corporation distributes a dividend is called the declaration date.
A:对
B:错
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