南开大学23年秋学期《会计专业英语》在线作业三

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-00003

Which of the following measures a company’s ability to pay its current liabilities?
A:earnings per share
B:inventory turnover
C:current ratio
D:number of times interest charges earned
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A characteristic of a fixed asset is that it is ( )
A:intangible
B:used in the operations of a business
C:held for sale in the ordinary course of the business
D:none of the above
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The journal entry a company uses to record the estimated accrued product warranty liability is ( )
A:debit Product Warranty Expense; credit Product Warranty Payable
B:debit Product Warranty Payable; credit Cash
C:debit Product Warranty Expense; credit Cash
D:debit Product Warranty Payable; credit Product Warranty Expense
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The accounting equation may be expressed as( )
A:Assets = Equities – Liabilities
B:Assets + Liabilities = Owner's Equity
C:Assets = Revenues less Liabilities
D:Assets – Liabilities = Owner's Equity
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The inventory method that assigns the most recent costs to cost of good sold is
A:FIFO
B:LIFO
C:average
D:specific identification
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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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How is treasury stock shown on the balance sheet?奥鹏南开大学23年秋季新学期作业参考
A:as an asset
B:as a decrease in stockholders' equity
C:as an increase in stockholders' equity
D:treasury stock is not shown on the balance sheet
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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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Debts owed by a business are referred to as（ ）
A:accounts receivables
B:equities
C:owner’s equity
D:liabilities
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Financial reports are used by（ ）
A:management
B:creditors
C:investors
D:all of the above
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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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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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The measurement bases exclude( )
A:Historical cost
B:Current cost
C:Sale price
D:Present value
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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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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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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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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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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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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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Financial reports are used by( )
A:management
B:creditors
C:investors
D:all of the above
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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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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:错误
B:正确
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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 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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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 double-entry accounting system records each transaction twice.
A:错误
B:正确
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Primary users of accounting information are accountants.
A:错误
B:正确
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Merchandising businesses sell products that they purchase from other businesses to customers.
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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An example of an external user of accounting information is the government.
A:对
B:错
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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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Bondholders are creditors of the issuing corporation.
A:错误
B:正确
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The normal balance of the accumulated depreciation account is debit.
A:错误
B:正确
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For strong internal control system over cash, it is important to have the duties related to cash receipts and cash payments divided among different employees.
A:错误
B:正确
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Bondholders claims on the assets of the corporation rank ahead of stockholders.
A:对
B:错
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The statement of cash flows consists of an operating section, an income section, and an equity section.
A:错误
B:正确
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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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The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.
A:错误
B:正确
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A business using the perpetual inventory system, with its detailed subsidiary records, does not need to take a physical inventory.
A:对
B:错
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An account receivable is typically classified as a revenue.
A:对
B:错
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The amortization of a premium on bonds payable decreases bond interest expense.
A:错误
B:正确
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The role of accounting is to provide many different users with financial information to make economic decisions.
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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If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.
A:对
B:错
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For strong internal control system over cash, it is important to have the duties related to cash receipts and cash payments divided among different employees.
A:对
B:错
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Liability accounts are increased by debits.
A:对
B:错
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Accounting is a service that provides many different users with financial information to make economic decisions.
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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Allowance for Doubtful Accounts is a liability account.
A:对
B:错
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Revenue accounts are increased by credits.
A:对
B:错
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