南开大学23年春学期《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（高起本：1709-2103、专升本/高起专：1909-2103）《会计专业英语》在线作业-00002

All of the following below are needed for the calculation of depreciation except（ ）
A:cost
B:residual value
C:estimated life
D:book value
正确答案问询微信：424329

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
正确答案问询微信：424329

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
正确答案问询微信：424329

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
正确答案问询微信：424329

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
正确答案问询微信：424329

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
正确答案问询微信：424329

Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?
A:owner's equity is overstated
B:cost of merchandise sold is overstated
C:gross profit is understated
D:net income is understated
正确答案问询微信：424329

The debt created by a business when it makes a purchase on account is referred to as an
A:account payable
B:account receivable
C:asset
D:expense payable
正确答案问询微信：424329

When the perpetual inventory system is used, the inventory sold is debited to ( )
A:supplies expense
B:cost of merchandise sold
C:merchandise inventory
D:sales
正确答案问询微信：424329

The interest rate specified in the bond indenture is called the ( )
A:discount rate
B:contract rate
C:market rate
D:effective rate
正确答案问询微信：424329

The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner’s equity should equal
A:$212,000
B:$44,000
C:$128,000
D:$84,000
正确答案问询微信：424329

Which of the following is not included in the computation of the quick ratio?
A:inventory
B:marketable securities
C:accounts receivable
D:cash
正确答案问询微信：424329

The business entity concept means that
A:the owner is part of the business entity
B:an entity is organized according to state or federal statutes
C:an entity is organized according to the rules set by the FASB
D:the entity is an individual economic unit for which data are recorded, analyzed, and reported
正确答案问询微信：424329

Accumulated Depreciation ( )
A:is used to show the amount of cost expiration of intangibles
B:is the same as Depreciation Expense
C:is a contra asset account
D:is used to show the amount of cost expiration of natural resources
正确答案问询微信：424329

All of the following below are needed for the calculation of depreciation except( )
A:cost
B:residual value
C:estimated life
D:book value
正确答案问询微信：424329

The term "inventory" indicates ( )
A:merchandise held for sale in the normal course of business
B:materials in the process of production or held for production
C:supplies
D:both A and B
正确答案问询微信：424329

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
正确答案问询微信：424329

The reduction of par or stated value of stock by issuance of a proportionate number of additional shares is termed a ( )
A:liquidating dividend
B:stock split
C:stock option
D:preferred dividend
正确答案问询微信：424329

Expenses are reported on the( )
A:income statement
B:statement of owner's equity
C:statement of cash flows
D:balance sheet
正确答案问询微信：424329

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
正确答案问询微信：424329

Revenue is earned only when money is received.
A:对
B:错
正确答案问询微信：424329

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
正确答案问询微信：424329

Revenue is earned only when money is received.
A:错误
B:正确
正确答案问询微信：424329

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.
A:对
B:错
正确答案问询微信：424329

Information is material if its omission or misstatement could influence the economic decisions of users.
A:错误
B:正确
正确答案问询微信：424329

A corporation is a business that is legally separate and distinct from its owners.
A:对
B:错
正确答案问询微信：424329

Merchandising businesses sell products that they purchase from other businesses to customers.
A:错误
B:正确
正确答案问询微信：424329

A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time.
A:错误
B:正确
正确答案问询微信：424329

During the closing process, some balance sheet accounts are closed and end the period with a zero balance.
A:对
B:错
正确答案问询微信：424329

The book value of a fixed asset reported on the balance sheet represents its market value on that date.
A:对
B:错
正确答案问询微信：424329

Treasury Stock is listed in the stockholders' equity section on the balance sheet.
A:对
B:错
正确答案问询微信：424329

Sales Discounts is a revenue account with a credit balance.
A:错误
B:正确
奥鹏南开大学新学期作业参考 代做2元一门正确答案问询微信：424329

The declaration and issuance of a stock dividend does not affect the total amount of a corporation's assets, liabilities, or stockholders' equity.
A:错误
B:正确
正确答案问询微信：424329

The accounting equation can be expressed as Assets – Liabilities = Owner's Equity.
A:对
B:错
正确答案问询微信：424329

The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.
A:错误
B:正确
正确答案问询微信：424329

A corporation is a business that is legally separate and distinct from its owners.
A:错误
B:正确
正确答案问询微信：424329

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
正确答案问询微信：424329

The accrual basis of accounting requires revenue be recorded when cash is received from customers.
A:对
B:错
正确答案问询微信：424329

Financial statements should be understandable to everyone.
A:错误
B:正确
正确答案问询微信：424329

When the market rate of interest is less than the contract rate for a bond, the bond will sell for a premium.
A:对
B:错
正确答案问询微信：424329

During inflationary periods, an advantage of the LIFO inventory cost method is that it matches more recent costs against current revenues.
A:对
B:错
正确答案问询微信：424329

Under the accrual basis for the accounting period concept, revenues are reported in the income statement in the period in which they are earned.
A:对
B:错
正确答案问询微信：424329

When a stock dividend is declared, it becomes a liability
A:错误
B:正确
正确答案问询微信：424329

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
正确答案问询微信：424329

Bonds are sold at face value when the contract rate is equal to the market rate of interest.
A:错误
B:正确
正确答案问询微信：424329

Every adjusting entry will affect at least one income statement account and one balance sheet account.
A:对
B:错
正确答案问询微信：424329

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
正确答案问询微信：424329

Prepaid expenses are an example of an expense.
A:错误
B:正确
正确答案问询微信：424329

Ordinarily, a corporation owning a significant portion of the voting stock of another corporation accounts for the investment using the equity method.
A:对
B:错
正确答案问询微信：424329

An income statement is a summary of the revenues and expenses of a business as of a specific date.
A:错误
B:正确
正确答案问询微信：424329