南开大学23年春学期《会计专业英语》在线作业一

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-00001

The matching concept( )
A:addresses the relationship between the journal and the balance sheet
B:determines whether the normal balance of an account is a debit or credit
C:requires that the dollar amount of debits equal the dollar amount of credits on a trial balance
D:determines that expenses related to revenue be reported at the same time the revenue is reported
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Expenses are reported on the( )
A:income statement
B:statement of owner's equity
C:statement of cash flows
D:balance sheet
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Cash investments made by the owner to the business are reported on the statement of cash flows in the
A:financing activities section
B:investing activities section
C:operating activities section
D:supplemental statement
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When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are ( )
A:convertible bonds
B:unsecured bonds
C:debenture bonds
D:callable bonds
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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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The income statement is prepared from( )
A:the adjusted trial balance.
B:the income statement columns of the work sheet.
C:eit奥鹏南开大学新学期作业参考 代做2元一门her 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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The most widely used depreciation method is
A:straight-line
B:sum-of-the-years-digits
C:declining-balance
D:units-of-production
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When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at ( )
A:a premium
B:their face value
C:their maturity value
D:a discount
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The method of accounting for investments in equity securities in which the investor records its share of periodic net income of the investee is the ( )
A:cost method
B:market method
C:income method
D:equity method
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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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In the accounting cycle, the last step is( )
A:preparing the financial statements
B:journalizing and posting the adjusting entries
C:preparing a post-closing trial balance
D:journalizing and posting the closing entries
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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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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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If the two totals of a trial balance are not equal, it could be due to
A:an error in determining the account balances, such as a balance being incorrectly computed
B:recording the same transaction more than once
C:failure to record a transaction
D:recording the same erroneous amount for both the debit and the credit parts of a transaction
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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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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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One of the main disadvantages of the corporate form is the( )
A:professional management
B:double taxation of dividends
C:charter
D:corporation must issue stock
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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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If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are
A:n/30
B:FOB shipping point
C:FOB destination
D:consigned
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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
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The main reason that the bank statement cash balance and the depositor's cash balance do not initially balance is due to timing differences.
A:对
B:错
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Merchandising businesses sell products that they purchase from other businesses to customers.
A:错误
B:正确
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If the proceeds from the sale of bond investments exceeds the carrying amount of the bonds, a gain is realized.
A:对
B:错
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The increase side of all accounts is the normal balance.
A:对
B:错
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Allowance for Doubtful Accounts is a liability account.
A:错误
B:正确
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The difference between Accounts Receivable and its contra asset account is called net realizable value.
A:错误
B:正确
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Temporary investments are reported on the balance sheet at cost.
A:错误
B:正确
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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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Dividends in arrears are liabilities of the corporation.
A:错误
B:正确
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Consuming goods and services in the process of generating revenues results in expenses.
A:错误
B:正确
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When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.
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:对
B:错
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Solvency analysis focuses on the ability of a business to pay its current and noncurrent liabilities.
A:错误
B:正确
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The equity method is usually more appropriate for accounting for investments where the purchaser does not have significant influence over the investee.
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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Before a stock dividend can be declared or paid, there must be sufficient cash.
A:对
B:错
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Cash equivalents are short -term investments that will be converted to cash within 120 days.
A:对
B:错
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For a current liability to exist, the following two tests must be met. The liability must be due usually within a year and must be paid out of current assets.
A:错误
B:正确
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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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The difference between Accounts Receivable and its contra asset account is called net realizable value.
A:对
B:错
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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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Any difference between the fair market values of the securities and their cost is a realized gain or loss.
A:对
B:错
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Revenue is earned only when money is received.
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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The normal balance of the accumulated depreciation account is debit.
A:对
B:错
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A corporation is a business that is legally separate and distinct from its owners.
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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All property, plant, and equipment assets are depreciated over time.
A:对
B:错
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The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business.
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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