南开大学23年春《会计专业英语》在线作业三

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-00003

The cost of a product warranty should be included as an expense in the ( )
A:period the cash is collected for a product sold on account
B:future period when the cost of repairing the product is paid
C:period of the sale of the product
D:future period when the product is repaired or replaced
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If preferred stock has dividends in arrears, the preferred stock must be ( )
A:participating
B:callable
C:cumulative
D:convertible
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How does paying a liability in cash affect the accounting equation?
A:assets increase; liabilities decrease
B:assets increase; liabilities increase
C:assets decrease; liabilities decrease
D:liabilities decrease; owner's equity increases
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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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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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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 ( )
A:Debit to the investment account for $10,000
B:Debit to the investment account for $4,000
C:Credit to the investment account for $4,000
D:Debit to a loss account for $4,000
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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 items below is not a business organization form?( )
A:entrepreneurship
B:proprietorship
C:partnership
D:corporation
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The interest rate specified in the bond indenture is called the ( )
A:discount rate
B:contract rate
C:market rate
D:effective rate
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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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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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The characteristics of partnership exclude( )
A:more financial resources than a proprietorship
B:additional management skills
C:limited liability
D:unlimited liability
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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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The two most common specialized fields of accounting in practice are( )
A:forensic accounting and financial accounting
B:managerial accounting and financial accounting
C:managerial accounting and environmental accounting
D:financial accounting and tax accounting systems
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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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A bank reconciliation should be prepared periodically because ( )
A:the depositor's records and the bank's records are in agreement
B:the bank has not recorded all of its transactions
C:any differences between the depositor's records and the bank's records should be determined, and any errors made by either party should be discovered and corrected
D:the bank must make sure that its records are correct
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On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the （ ）
A:Uncollectible accounts expense for the year
B:total of the accounts receivables written-off during the year
C:total estimated uncollectible accounts as of the end of the year
D:sum of all accounts that are past due.
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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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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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Stockholders' equity ( )
A:is usually equal to cash on hand
B:includes paid-in capital and liabilities
C:includes retained earnings and paid-in capital
D:is shown on the income statement
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In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement.
A:对
B:错
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Managerial accounting is primarily concerned with the recording and reporting of economic data and activities of an entity for use by owners, creditors, governmental agencies, and the public.
A:错误
B:正确
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Purchasing supplies on account increases liabilities and decreases equity.
A:对
B:错
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The accounting equation can be expressed as Assets – Liabilities = Owner's Equity.
A:对
B:错
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In establishing a petty cash fund, a check is written for the amount of the fund and is recorded as a debit to Accounts Payable and a credit to Petty Cash.
A:对
B:错
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An account receivable is a claim against a customer arising from a sale on account.
A:对
B:错
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If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.
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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The investor carrying an investment by the equity method records cash dividends received as an increase in the carrying amount of the investment.
A:对
B:错
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When common stock is issued in exchange for land, the land should be recorded in the accounts at the par amount of the stock issued.
A:对
B:错
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Accrued expenses are expenses that have been incurred but not yet paid in cash and there is no original entry.
A:对
B:错
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When common stock is issued in exchange for land, the land should be recorded in the accounts at the par amount of the stock issued.
A:错误
B:正确
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Allowance for Doubtful Accounts is a liability account.
A:错误
B:正确
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An account receivable is typically classified as a revenue.
A:对
B:错
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Liabilities that will be due within one year or less and that are to be paid out of current assets are called current liabilities.
A:对
B:错
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Primary users of accounting information are accountants.
A:错误
B:正确
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If a firm has a quick ratio of 1, the subsequent payment of an account payable will cause the ratio to increase.
A:对
B:错
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In preparing bank reconciliation, the amount of outstanding checks is added to the balance per bank statement.
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:错误
B:正确
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When the market rate of interest is less than the contract rate for a bond, the bond will sell for a premium.
A:错误
B:正确
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The book value of a fixed asset reported on the balance sheet represents its market value on that date.
A:错误
B:正确
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The matching concept supports reporting revenues and related expenses in the same period.
A:对
B:错
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The allowance for doubtful accounts is similar to accumulated depreciation in that the account represents the total of all accounts written-off since the beginning year.
A:错误
B:正确
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Income is recognized when an increase in future benefits related to an increase in an asset of a decrease of a liability has arisen that can be measured reliably.
A:错误
B:正确
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When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.
A:对
B:错
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The declaration of a stock dividend decreases a corporation's stockholders' equity and increases its liabilities.
A:对
B:错
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In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement.
A:错误
B:正确
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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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The order of the flow of accounting data is (1) 奥鹏南开大学新学期作业参考 代做2元一门record in the ledger, (2) record in the journal, (3) prepare the financial statements.
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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