南开大学23年秋学期《会计专业英语》在线作业二

奥鹏南开大学23年秋季新学期作业参考

23秋学期（仅限-高起专1909、专升本1909）《会计专业英语》在线作业-00002

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
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Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?
A:net income is understated
B:net income is overstated
C:cost of merchandise sold is understated
D:merchandise inventory reported on the balance sheet is overstated
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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
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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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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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Which of the following groups are considered to be internal users of accounting information?
A:Employees and customers
B:Customers and vendors
C:Employees and managers
D:Government and banks
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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 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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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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Under which method of cost flows is the inventory assumed to be composed of the most recent costs?
A:average cost
B:last-in, first-out
C:first-in, first-out
D:weighted average
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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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The primary purpose of a stock split is to ( )
A:increase paid-in capital
B:reduce the market price of the stock per share
C:increase the market price of the stock per share
D:increase retained earnings
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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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Current liabilities are（ ）
A:due, but not receivable for more than one year
B:due, but not payable for more than one year
C:due and receivable within one year
D:due and payable within one year
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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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Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?
A:net income is understated
B:net income is overstated
C:cost of merchandise sold is understated
D:merchandise inventory reported on the balance sheet is overstated
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For accounting purposes, the business entity should be considered separate from its owners if the entity is（ ）
A:a corporation
B:a proprietorship
C:a partnership
D:all of the above
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Financial reports are used by（ ）
A:management
B:creditors
C:investors
D:all of the above
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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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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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During the closing process, some balance sheet accounts are closed and end the period with a zero balance.
A:对
B:错
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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:对
B:错
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The normal balance of the accumulated depreciation account is debit.
A:错误
B:正确
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Capital expenditures are costs that are charged to Stockholders' Equity accounts.
A:错误
B:正确
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Financial statements should be understandable to everyone.
A:错误
B:正确
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Recognition is the process of incorporating in the balance sheet or income statement an item that meet the definition of an element and satisfies the recognition criteria.
A:错误
B:正确
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An example of an external user of accounting information is the government.
A:对
B:错
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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: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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Temporary investments are reported on the balance sheet at cost.
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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Purchasing supplies on account increases liabilities and decreases equity.
A:对
B:错
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The declining-balance method is an accelerated depreciation method.
A:错误
B:正确
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Accounting is a service that provides many different users with financial information to make economic decisions.
A:对
B:错
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If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.
A:错误
B:正确
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When common stock is issued in exchange for land, the land should be recorded奥鹏南开大学23年秋季新学期作业参考 in the accounts at the par amount of the stock issued.
A:对
B:错
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During inflationary periods, the use of the FIFO method of costing inventory will result in a greater amount of net income than would result from the use of the LIFO cost method.
A:对
B:错
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During deflationary periods, the use of the LIFO method of costing inventory will result in a lower amount of current assets than would result from the use of the FIFO method.
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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A fixed asset impairments occurs when the fair value of a fixed asset falls below its book value and is not expected to recover.
A:错误
B:正确
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If the liabilities owed by a business total $500,000, then the assets also total $500,000.
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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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:对
B:错
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All property, plant, and equipment assets are depreciated over time.
A:错误
B:正确
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Horizontal analysis is used to compare the financial statements of the same company for different periods.
A:错误
B:正确
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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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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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Journalizing is the process of entering amounts in the ledger.
A:对
B:错
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The book value of a fixed asset reported on the balance sheet represents its market value on that date.
A:对
B:错
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Bondholders claims on the assets of the corporation rank ahead of stockholders.
A:错误
B:正确
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