会计英语选择题

1、1、 which is the following statements isfalse ?A. the partnership form of business organization protects the personal assents of the owners form creditor of the business A. Increases in assets and Increases in revenues are recorded with a debit ledger is a chronological listing of all transactions2、

2、The primary objective of financial reporting is.C. To provide information useful for investment and lending decisions3、 The principle or concept that holds an entity will remain in operation for the foreeable future is the .A. Goning-concern concept4、 which is the following statements is true ?B. As

3、sets are economic resources that are expect to benefit future periods5、 Aftin services on account . When Aftin collects the account receivable .B. Assets do not change6、 which is the following transaction would not affect owner's equity? A. Payment of an account payable7、 An income statement rep

4、orts.D. The difference between revenues and expense during the period8、 If assents increase $80000 during the period and owners equitydecreases $16000during the period , liabilities must have .B . increased $960009、 if net income was $1500 and there no withdrawals, how much did the owner in vest?A .

5、 $450010、 The amount of net income shown on the income statement also appears on.C. Statement of owners equity11、 which of these is an example of an asset account?C. Supplies12、 Traylor companypaid $2850 on account. The effect of this transaction accounting equation is to.assets and decrease liabili

6、ties13、 note payable has a normal beginning balance of $30000. During the period,new borrowing total $63000 and the balance in note payable is $41000. Determine the on loans during the period.B.$520014、 which of these accounts has a normal debit balance?A and B have a normal debit balance15、 The jou

7、rnal entry to record the collection of $890 form a customer on account is.B. cash 890Accounts receivable 89018、 the ending cash account balance is $57600. During the period,cash receipts equal$ the cash payments during the period total $135100,then the beginning cash amount must have .A. $68400【 +57

8、600】19、 Use the following selected information for the Alecia Company the correct cresit column total for a trial balance.C.$26500020、 which of these statements is correct ?D. Both B and C are correct21、 Whenshould revenue be recorded under the accrual-basis and cash-basis of.D. accrual-basis (when

9、the service is performed) cash-basis (when received)22 、 During 20*4,Bustamante Co,incurred salary expense of $240000,beginning and ending salary Payable was $4000 and $8000, 20*4,bustamante paid salaries of .C. $23600020、 During 20*4,Bustamante received $600000 for service has not received $30000 f

10、or services already performed in 20* also invested $20000 into the should report service revenue for 20*4 of .D. $63000021、 Recording an expense when it is paid instead of when incurred is a violation of .A. The matching principle22、 On july31,$3600 is paid fora one-year insurance policy.OnDecember3

11、1, the adjustingentry for prepaid insurance would include C. a debit to Insurance Expense,$150023、 Failure to record an adjusting entry for an accrued expense,will result in the following .B. Liabilities-understate,net income-overstate24、 An adjusting entry could contain all of the following except.

12、8. a credit of cash25、 which is the following statements best describes the purpose of internal control?A. To provide assurance that the entire business operates in accordance with management a plans and policies26、 Note and interest collected by the bank for the company,$500 (plus$25 interest .)A.

13、Add to the book balance27、 Deposit in transit,$400.8. Add to the book balance28、 Check for which should have been written for $730 was incorrectlyreceiable by the bank as $370.C. deduct from the book balance29、 If a bank reconciliation includes an NSF check for $45,the journal entry to this reconcil

14、ing item would include.A. Credit to cash30、 All of the following are controls over cash received in a store except. .A . The clerk should have access to the cash register tape to make corrections when .31、 which is the following statements related to receivable.?C. When a notes receivable is not pai

15、d at maturity,the principalplus any into should be charged back to the customer s accounts receivable.32、 Refer to Exhibit4-1. Compute days sales in receivable(365/net sale counts receivable).D. 37days33、 The weighted average for the year inventory cost flow method is applicable to the following inv

16、entory system?B. Periodic-Yes,perpetual-No.34、 The LIFO inventory cost flow method may be applied to which of the following inventory systems ?C. Periodic-Yes,perpetual-Yes.35、 The company use a periodic inventory system and the ending inventory consists of 60pnits,20 from each of the last three pur

17、chases. Determine the ending inventory assuming costs are assigned on a weighted-average basis.D. $1022.36、 A company use a inventory system and made an error at the end of year caused its year I ending inventory to be understated by $ effect does this have on the company s financial statements?A. N

18、et income is understated;assets are understated.37、 The estimate of the cost of the inventory on June 30 would be .C. $8950038、 Which of the following factors would not be considered in the selecting of LIFO as ventory costing method .?C. Physical flow39、 Which of the following methods of inventory

19、valuation is allowableat interim date not at year-end?B. Estimated gross profit rates40、 A physical inventory taken on December31,20*2,resulted in an ending inventory $ s gross profit on sales has remained constant at 25% inrecent year suspects someinventory mayhave been taken by a new December 31 w

20、hat is the estimated cost of missing inventory?A. $2500041、 Which of the following is not affected by the inventory valuation method user .?C. Amounts paid to acquire merchandise.42、 Under the retail inventory method,freight-in would be include the goods available for sale for which of the following

21、?C. Cost-Yes,Retail-No.43、 Charging the cost of ordinary repairs to the machinery and equipment asset account during the current year would.D. Not affect the total liabilities at the end of the current year44、 M S CO. Exchanged nonmonetary exchange did not culminate an earning process for either M or paid cash to S in connection with the the extent that the amount of cash exceeds a proportionate share ofthe carrying amount of the asset surrendered,a realized gain on theexchange should be recognizedby. If the