南开大学23年秋学期《会计专业英语》在线作业一

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-00001

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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Which of the following groups of accounts have a normal debit balance?
A:revenues, liabilities, capital
B:capital, assets
C:liabilities, expenses
D:assets, expenses
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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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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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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
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Revenue should be recognized when（ ）
A:cash is received
B:the service is performed
C:the customer places an order
D:the customer charges an order
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Expenses are recorded when( )
A:cash is paid for services rendered
B:a bill is received in advance of services rendered
C:services are rendered
D:none of the above
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Which of the following should not be considered cash by an accountant?
A:coins
B:bank checking accounts
C:postage stamps
D:Petty cash funds
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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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Which of the items below is not a business organization form?( )
A:entrepreneurship
B:proprietorship
C:partnership
D:corporation
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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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The liability for a dividend is recorded on which of the following dates?
A:the date of record
B:the date of payment
C:the date of announcement
D:the date of declaration
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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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During a period of falling prices, which of the following inventory methods generally results in the lowest balance sheet amount for inventory. ( )
A:average method
B:LIFO method
C:FIFO method
D:can not tell without more information
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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
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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 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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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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A business paid $7,000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to
A:increase one asset, decrease another asset
B:decrease an asset, decrease a liability
C:increase an asset, increase a liability
D:increase an asset, increase owner's equity
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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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Intangible assets differ from property, plant and equipment assets in that they lack physical substance.
A:错误
B:正确
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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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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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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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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: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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Under the perpetual inventory system, when a sale is made, both the sale and cost of merchandise sold are recorded.
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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Accounting Process is identifying, measuring, recording, and communicating economic information to permit informed judgments and decisions by users of information.
A:错误
B:正确
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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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If ending inventory for the year is overstated, owner's equity reported on the balance sheet at the end of the year is understated.
A:对
B:错
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The relationship of each asset item as a percent of total assets is an example of vertical analysis.
A:对
B:错
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If ending inventory for the year is understated, net income for the year is overstated.
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: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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The difference between Accounts Receivable and its contra asset account is called net realizable value.
A:对
B:错
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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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The declining-balance method is an accelerated depreciation method.
A:错误
B:正确
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Paying an account payable increases liabilities and decreases assets
A:对
B:错
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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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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: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:对
B:错
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An income statement is a summary of the revenues and expenses of a business as of a specific date.
A:对
B:错
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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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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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When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a奥鹏南开大学23年秋季新学期作业参考 trade discount.
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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The matching concept supports reporting revenues and related expenses in the same period.
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: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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