会计学原理选择题打.doc

Part One Quiz 1. Cole Companys statement of cash flows for the year ended December 31, 2004, should include all of the following sections EXCEPT: a. Cash Flows from Analysis Activities. b. Cash Flows from Operating Activities. c. Cash Flows from Financing Activities. d. Cash Flows from Investing Activities. 2. Cole Companys statement of cash flows for the year ended December 31, 2004, shows the following: Beginning cash balance, $ 1,750,000; Ending cash balance, $ 2,500,000; Cash provided by Operating Activities, $ 4,000,000; Cash used by Investing Activities, $(2,500,000). Based on this information, Coles cash flow from Financing Activities is a: a. $2,250,000 generation of cash. b. $ 750,000 use of cash. c. $ 2,250,000 use of cash. d. $ 750,000 generation of cash. 3. The balance sheet lists: a. Available resources only. b. Resources committed only. c. Available resources, resources committed, and the difference between the two. d. Available resources, resources committed, and the sum of the two. 4. Assets include: a. Accounts receivable and accrued cash. b. Accounts payable and accrued liabilities. c. Cash equivalents and accounts payable. d. Accounts receivable and cash equivalents. 5. An income statement includes: a. Revenues, operating liabilities, and net income. b. Revenues, operating expenses, and loss on asset sales. c. Revenues, accrued operating liabilities, and net income. d. Revenues, operating liabilities, and net loss. 6. Economic concepts are the: a. Ideas that guide preparation of accounting reports. b. Rules that apply to the preparation of accounting reports. c. Conventions used in the preparation of accounting reports. d. Regulations enforced by the government in the preparation of accounting reports. 7. Union Plaza Hotel and Casinos consolidated balance sheet includes the following liability titles: a. Long-term debt, other current liabilities, capital leases, and accounts payable. b. Accrued liabilities, accounts payable, other current liabilities, and accrued cash. c. Accrued liabilities, capital lease obligations, accounts payable, and long-term debt. d. Accrued cash, accrued liabilities, long-term debt, and capital leases. 8. Union Plaza Hotel and Casinos consolidated December 31, 2001 balance sheet shows assets of $40,513 and liabilities of $39,885. Its equity is: a. $80,398. b. $628. c. $ 40,513. d. $ 39,885. 9. GAAP apply to one or more of three broad areas. These include: a. Asset valuation, recognition, and disclosure. b. Accounting valuation, recognition and disposal. c. Asset valuation, recognition, and disposal. d. Accounting valuation, recognition, and disclosure. 10. The three main economic concepts at the heart of accounting are: a. Financial value, organization, and economic income. b. Financial value, wealth, and economic income. c. Wealth, leverage, and value. d. Value, organization, and competition.Part Two Quiz 1. Current assets include: a. Cash, marketable securities, and tangible property. b. b. Cash, marketable securities, and receivables due in more than 1 year. c. c. Cash, marketable securities, and intangible property. d. d. Cash, marketable securities, and receivables due within 1 year. 2. OshKosh BGosh, Inc.s consolidated December 30, 2000 balance sheet lists the following liabilities: accounts payable, $14,840; accrued liabilities, $39,942; and debt of $44,000. All of the accounts payable and accrued liabilities are due in the next year. $10,000 of the debt is due in the next year. Based ONLY on this information, the companys current liabilities are: a. $64,782. b. $98,782. c. $88,782. d. $54,782. 3. OshKosh BGosh, Inc.s consolidated December 29, 2001 balance sheet lists the following items: cash & cash equivalents, $29,322; inventories, $55,429; prepaid expenses, $1,607; employee benefit plan liabilities, $14,008; net property plant & equipment, $30,001. Based ONLY on this information, the companys current assets are: a. $102,351. b. $84,751. c. $86,358. d. $116,359. 4. OshKosh BGosh, Inc.s consolidated December 29, 2001 balance sheet lists the following items: cash & cash equivalents, $29,322; inventories, $55,429; prepaid expenses, $1,607; employee benefit plan liabilities, $14,008; net property plant & equipment, $30,001. Based ONLY on this information, the companys total assets are: a. $116,359. b. $102,351. c. $86,358. d. $84,751. 5. OshKosh BGosh, Inc.s consolidated December 29, 2001 balance sheet lists the following items: cash & cash equivalents, $29,322; inventories, $55,429; prepaid expenses, $1,607; employee benefit plan liabilities, $14,008; net property plant & equipment, $30,001. Based ONLY on this information, the companys stockholders equity is: a. $86,358. b. $84,751. c. $102,351. d. $116,359. 6. On February 5, 2004, Websell purchases additional equipment on credit for $300,000. This transaction changes the accounting equation in which of the following ways? a. Liabilities increase by $300,000 and equities decrease by $300,000. b. Assets and liabilities increase by $300,000. c. Assets and equity increase by $300,000. d. There is no change in the accounting equation. 7. On February 5, 2004, Websell prepays $150,000 advertising for one year. This transaction changes the accounting equation in which of the following ways? a. Assets and liabilities increase by $150,000. b. Assets and equity increase by $150,000. c. Liabilities increase by $150,000 and equities decrease by $150,000. d. There is no change in the accounting equation. 8. On February 5, 2004, Websell purchases additional equipment on credit for $300,000. This transaction results in the following journal entry: a. Debit equipment and credit accounts payable for $300,000. b. Debit equipment and credit cash for $300,000. c. Debit accounts payable and credit equipment. d. Debit cash and credit equipment. 9. On February 5, 2004, Websell prepays $150,000 advertising for one year. This transaction results in the following journal entry: a. Debit prepaid advertising and credit accounts payable for $150,000. b. Credit accounts payable and debit common stock for $150,000. c. Debit prepaid advertising and credit cash for $150,000. d. Debit prepaid advertising and credit common stock for $150,000. 10. Which of the following choices properly states the rule for debits? a. Debits (left-side entries) decrease assets and increase liabilities and equities. b. Debits (left-side entries) increase assets and decrease liabilities and equities. c. Debits (right-side entries) increase assets and decrease liabilities and equities. d. Debits (right-side entries) decrease assets and increase liabilities and equities.Part Three Quiz 1. Revenue recognition criteria include all of the following EXCEPT: a. The earnings process is complete. b. There is reasonable certainty of collection. c. An exchange has taken place. d. Cash has been received. 2. The process of looking for the expenses corresponding to recognized revenue is called: a. Matching. b. Recognition. c. Realization. d. Expense. 3. Gross increases in net assets resulting from operations over a period of time are called: a. Assets. b. Revenues. c. Expenses. d. Liabilities. 4. Gross decreases in net assets resulting from operations over a period of time are called: a. Revenues. b. Liabilities. c. Assets. d. Expenses. 5. Under accrual accounting, a. Expenses must coincide with cash flows. b. Revenues must, but expenses may or may not coincide with cash flows. c. Neither revenues nor expenses must coincide with cash flows. d. Revenues must coincide with cash flows. 6. Which of the following statements properly describes the relationship between revenues/expenses and retained earnings? a. Increases in revenues increase retained earnings, while increases in expenses decrease retained earnings. b. Increases in BOTH revenues and expenses increase retained earnings. c. Increases in BOTH revenues and expenses decrease retained earnings. d. Increases in revenues decrease retained earnings, while increases in expenses increase retained earnings. 7. On May 1, 2004, Websell receives an advance payment of $95,000 for work to be performed in the coming month. The entry to record this transaction is: a. No entry is required, as the revenue has not yet been earned. b. A debit to cash and a credit to common stock for $95,000. c. A debit to cash and a credit to revenue received in advance for $95,000. d. A debit to cash and a credit to revenue for $95,000. 8. On May 1, 2004, Websell receives an advance payment of $95,000 for work to be performed in the coming month and records the appropriate entry. On May 31, 2004, all work has been completed. Websell computes that the project has generated $125,000 of revenue and issues final billing. The appropriate entry on May 31st is: a. A debit to cash and a credit to revenue for $125,000. b. Debits to accounts receivable and revenue received in advance for $30,000 and $95,000 respectively as well as a credit to revenue for $125,000. c. A debit to accounts receivable and a credit to revenue for $125,000. d. Debits to cash and revenue received in advance for $30,000 and $95,000 respectively as well as a credit to revenue for $125,000. 9. On January 1, 2004, Websell pays $100,000 for the rights to copyrighted materials, which will benefit the next five years, and records the appropriate entry. No adjustment is made during the year. At December 31, 2004, the required adjusting entry is: a. A debit to amortization expense and a credit to copyright permissions for $20,000. b. A debit to amortization expense and a credit to copyright permissions for $100,000. c. A debit to amortization expense and a credit to copyright permissions for $25,000. d. No adjusting entry is required on an intangible asset. 10. On January 1, 2004, Websell purchases supplies for $5,000 and records the appropriate entry. On December 31, 2004, company personnel take an inventory and determine that $1,500 of the supplies remains. The required December 31st adjusting entry is: a. A debit to expense and a credit to supplies for $5,000. b. A debit to expense and a credit to supplies for $1,500. b. No adjusting entry is required for a current asset like supplies. c. d. A debit to expense and a credit to supplies for $3,500.Part Four Quiz 1. Which of the following are included in the balance sheet account, cash? a. Checking and savings accounts, as well as currency on hand and compensating balances. b. Checking and savings accounts, as well as currency on hand c. Checking and savings accounts, as well as currency on hand, compensating balances, and restricted currency. d. Checking, but not savings accounts. 2. Which of the following statements about cash flow activities is correct? a. Financing activities are actions aimed at acquiring and disposing of assets that generate a long-term financial return and are illustrated by the payment of acquisition of equipment. b. Financing activities are actions aimed at acquiring and disposing of assets that generate a long-term financial return and are illustrated by the payment of long-term debt principal. c. Investing activities are actions aimed at acquiring and disposing of assets that generate a long-term financial return and are illustrated by the acquisition of equipment. d. Investing activities are actions aimed at acquiring and disposing of assets that generate a long-term financial return and are illustrated by the payment of long-term debt principal. 3. Which of the following statements about cash flow activities is correct? a. Financing activities are actions aimed at acquiring and repaying funds over a long period of time and are illustrated by the payment of long-term debt principal. b. Financing activities are actions aimed at acquiring and repaying funds over a long period of time and are illustrated by the acquisition of equipment. c. Investing activities are actions aimed at acquiring and repaying funds over a long period of time and are illustrated by the payment of long-term debt principal. d. Investing activities are actions aimed at acquiring and repaying funds over a long period of time and are illustrated by the acquisition of equipment. 4. Union Plaza Hotel and Casinos consolidated statement of cash flows includes operating cash flow titles such as: a. Interest received, interest paid, and proceeds from long-term debt. b. Cash paid to suppliers, interest paid, and interest received. c. Cash received from customers, interest received, and purchase of equipment. d. Cash paid to suppliers, interest paid, and purchase of equipment. 5. Operating activities: a. Include financing activities, but exclude investing activities. b. Exclude both financing and investing activities. c. Include both financing and investing activities. d. Exclude financing activities, but include investing activities. 6. If Total Toy Company collects proceeds from the sale of stock for $7,800, pays suppliers $19,500, and collects $11,700 from customers, its statement of cash flows will show: a. Operating cash outflows of $7,800 and financing cash inflows of $7,800. b. Operating cash inflows of $27,300 and investing cash inflows of $7,800. c. Operating cash outflows of $19,500 and financing cash inflows of $19,500. d. Operating cash inflows of $7,800 and financing cash inflows of $7,800. 7. Under the indirect method, OshKosh BGosh Inc.s consolidated statement of cash flows will include the following operating cash flow titles: a. Proceeds from the disposal of assets, changes in accounts receivable, inventories, accounts payable, and compensation earned under a restricted stock plan. b. Changes in accounts receivable, inventories, accounts payable, and the sale of investments. c. Depreciation, net income, dividends paid, and sale of investments. d. Amortization, deferred income taxes, net income, and compensation earned under a restricted stock plan. 8. Selected Websell information for June 2004 includes: net income, $730; amortization expense, $30; acquisition of equipment, $300; proceeds from common stock, $1,000; proceeds from bonds, $2,000; increase in accounts receivable, $10; increase in interest payable, $60. Websells operating cash inflows for June 2004 are: a. $690. b. $630. c. $810. d. $830. 9. Selected Websell information for June 2004 includes: net income, $730; amortization expense, $30; acquisition of equipment, $300; proceeds from common stock, $1,000; proceeds from bonds, $2,000; increase in accounts receivable, $10; increase in interest payable, $60. Websells investing cash outflows for June 2004 are: a. $700. b. $300. c. $2,300. d. $2,000. 10. Selected Websell information for June 2004 includes: net income, $730; amortization expense, $30; acquisition of equipment, $300; proceeds from common stock, $1,000; proceeds from bonds, $2,000; increase in accounts receivable, $10; increase in interest payable, $60. Websells financing cash inflows for June 2004 are: a. $3,000. b. $2,000. c. $1,000. d. $700.Part Eight Quiz 1. NCI shows net receivables of $104.8 million on its December 31, 2004 balance sheet. This statement also indicates NCI has made allowances for uncollectible accounts of $19.8 million. NCIs gross receivables are: a. $19.8 million. b. $124.6 million. c. $104.8 million. d. $85.0 million. 2. NCIs balance sheet shows the following accounts: billed amounts, $44,037; engagements in process, $20,496; allowance for uncollectible accounts, $(9,521). NCIs gross receivables are: a. $64,533. b. $20,496. c. $55,012. d. $74,084. 3. NCIs balance sheet shows the following accounts: billed amounts, $44,037; engagements in process, $20,496; allowance for uncollectible accounts, $(9,521). NCIs net receivables are: a. $74,084. b. $64,533. c. $55,012. d. $20,496. 4. NCIs balance sheet shows the following accounts: billed amounts, $44,037; engagements in process, $20,496; allowance for uncollectible accounts, $(9,521); current assets, $111,413; total assets $163,482. NCIs net receivables as a percentage of total assets is: a. 49.4%. b. 39.5%. c. 57.9%. d. 33.7%. 5. NCIs balance sheet shows the following accounts: billed amounts, $44,037; engagements in process, $20,496; allowance for uncollectible accounts, $(9,521); current assets, $111,413; total assets $163,482. NCIs net receivables as a percentage of current assets is: a. 49.4% b. 33.7%. c. 39.5%. d. 57.9%. 6. NCIs financial statements show the following accounts: accounts receivable current year, $104.8 million; accounts receivable prior year, $110.0 million; revenues current year, $471.2 million; revenues prior year, $475.0 million. NCIs receivables turnover for the current year is: a. 4.42 times. b. 4.50 times. c. 4.39 times. d. 4.41 times. 7. NCIs financial statements show the following accounts: accounts receivable current year, $104.8 million; accounts receivable prior year, $110.0 million; revenues current year, $471.2 million; revenues prior year, $475.0 million. NCIs days receivables outstanding for the current year is: a. 85. b. 90. c. 88. d. 83. 8. All o