《专业英语习题》word版.doc

专业英语习题一、单项选择题1. Which of the following are reported in the stockholders equity section of the balance sheet? ( )a. revenues and expenses b. dividends and retained earningsc. common stock and dividends d. common stock and retained earnings2. Current assets are presented in the balance sheet in order of ( ) a. dollar amounts b. liquidity c. solvency d. the alphabet 3. Current liabilities include all of the following except ( )a. accrued wages payable b. advance received from customerc. current portion of long-term loan d. prepaid expenses 4. Credit terms of 2/10 n/30 indicate: ( ) a. a 2% discount if 10 items are purchasedb. no payment is required until the 31st day after the invoice datec. a 10% discount if 2 items are purchased.d. a 2% discount for amounts paid within 10 days of the invoice and the remaining balance due within 30 days5. Which statement regarding the inventory turnover ratio is Not True? ( ) a. The ratio measures the average rate of speed inventories move through and out of company.b. Inventory turnover=Average Inventory COGS c. Inventory turnover figures vary considerably from industry to industry.d. A low inventory turnover can result from an overextended inventory position or from inadequate sales volume.6. Which statement regarding the liabilities and owners equity section of balance sheet is False? ( )a. Payment of Dividend Payable eliminates both the assets and the owners equityb. Liabilities are debts or obligations that must be discharged in money or services in the futurec. Owners equity is a residual claim to the remaining assets after discharge of debts.d. Balance sheet of corporations should separate Capital Stock and Retained Earnings.7. What is the difference between the quick and current ratio? ( ) a. The quick ratio deals with the companys ability to pay its liabilities whereas the current ratio does notb. The current ratio is a more stringent(严格的) test of liquidity than the quick ratio.c. The quick ratio excludes inventory, which the current ratio includes for calculation purposes.d. Management primarily uses the current ratio whereas investors and analysts are the primary users of the quick ratio.8. What of the following is Not an example of apportionment of recorded costs? ( ) a. Depreciation of fixed assetsb. Reallocation of receipts in advance.c. Expiration of insurance premium.d. Consume of supplies.9. For its most recent year, a corporation had beginning and ending accounts receivable balances of $50,000 and $60,000, respectively. The years sales on account were $800,000. What was the amount of cash received from customers during the year? ( )a. $790,000b. $820,000c. $810,000d. $800,00010. Sales revenue $200,000, beginning inventory $30,000, inventory purchased $100,000 and inventory sold $90,000. It is true that ( ) a. goods available for sale (GAFS) equals $200,000b. gross profit equals $110,000c. ending inventory equals $30,000d. cost of goods sold (COGS) equals $40,000二、多项选择题1. Three major fields of accounting activity are: ( ) a. social accounting b. private accountingc. public accountingd. governmental accounting2. The three forms of business organizations are: ( ) a. Corporationb. Enterprise.c. Single proprietorship d. Partnership3. Specialized fields of accounting include: ( ) a. cost accountingb. tax accountingc. governmental and not-for-profit accountingd. HR accountinge. international accounting4. The interested users of financial information include: ( ) a. Banks and other creditorsb. Managersc. Stockholdersd. Investment advisorse. Governmental agencies5. Long-term assets can be further classified into: ( ) a. long-term investments b. fixed assetsc. intangible assets.d. capital stock6. The necessary data for preparing the balance sheet and income statement are accumulated in major categories of ledger accounts including: ( ) a. assets accountsb. liabilities accounts c. owners equity accountsd. revenues accountse. expenses accounts7. Adjusting entries made to align revenue and expense with the appropriate periods consist of: ( ) a. Apportioning recorded cost to periods benefited.b. Apportioning recorded revenue to periods in which it is earnedc. Accruing unrecorded expensesd. Accruing unrecorded revenue e. Merchandise inventory adjustment8. Assume ending inventory is overstated because some inventory is accidentally counted twice. Which of the statements below regarding this situation is true? ( ) a. Net income for this accounting period will be overstated.b. COGS for this accounting period will be overstatedc. Net income in the next accounting period will be understated.d. Ending Retained Earnings in the next accounting period will be correct. 9. Which statement below regarding closing procedures is correct? ( ) a. Closing procedures only apply to temporary accounts. b. Closing the books means to prepare the accounts for next periods transactions.c. The closing process only applies to permanent accounts.d. Eventually closing entries transfer temporary account balances to Retained Earnings.三、判断题1. The normal balance of an account appears on the side for recording increases ( )2. It is customary to include any amounts received from customers but has not yet earned as revenue in current liability. ( ) 3. Financial position of an organization can best be determined by referring to the income statement. ( )4. Managerial accounting is governed by GAAP. ( ) 5. Current assets are presented in the order of liquidity or convertibility into cash; while current liabilities are listed in the order that they come due. ( ) 6. Closing procedures only apply to permanent accounts. ( )7. Net income or net loss in the income statement is reflected in the owners equity section on the balanc