18秋学期(1709、1803、1809)《会计专业英语》在线作业1

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【奥鹏】[南开大学]18秋学期（1709、1803、1809）《会计专业英语》在线作业 试卷总分:100 得分:100

第1题,Under which method of cost flows is the inventory assumed to be composed of the most recent costs? A、average cost

B、last-in, first-out C、first-in, first-out D、weighted average

第2题,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.

第3题,What is the type of account and normal balance of Allowance for Doubtful Accounts?

A、Contra asset, credit B、Asset, debit C、Asset, credit

D、Contra asset, debit

第4题,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

第5题,Sinking Fund Cash would be classified on the balance sheet as （ ） A、a current asset B、a fixed asset

C、an intangible asset D、an investment

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第6题,Debts owed by a business are referred to as（ ） A、accounts receivables B、equities

C、owner's equity D、liabilities

第7题,Financial reports are used by（ ） A、management B、creditors C、investors

D、all of the above

第8题,The inventory method that assigns the most recent costs to cost of good sold is

A、FIFO B、LIFO C、average

D、specific identification

第9题,Current liabilities are（ ）

A、due, but not receivable for more than one year B、due, but not payable for more than one year C、due and receivable within one year D、due and payable within one year

第10题,Stockholders' equity （ ） A、is usually equal to cash on hand

B、includes paid-in capital and liabilities

C、includes retained earnings and paid-in capital D、is shown on the income statement

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第11题,All of the following below are needed for the calculation of depreciation except（ ） A、cost

B、residual value C、estimated life D、book value

第12题,The excess of issue price over par of common stock is termed a(n) （ ） A、discount B、income C、deficit D、premium

第13题,Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error? A、net income is understated B、net income is overstated

C、cost of merchandise sold is understated

D、merchandise inventory reported on the balance sheet is overstated

第14题,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

第15题,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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第16题,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

第17题,The measurement bases exclude( ) A、Historical cost B、Current cost C、Sale price D、Present value

第18题,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

第19题,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

第20题,A capital expenditure results in a debit to （ ） A、an expense account B、a capital account C、a liability account D、an asset account

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第21题,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

第22题,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

第23题,Allowance for Doubtful Accounts is a liability account. A、错误 B、正确

第24题,Dividends in arrears are liabilities of the corporation. A、错误 B、正确

第25题,The difference between Accounts Receivable and its contra asset account is called net realizable value. A、错误 B、正确

第26题,If the liabilities owed by a business total $500,000, then the assets also total $500,000. A、错误 B、正确

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第27题,Prepaid expenses are an example of an expense. A、错误 B、正确

第28题,Sales Discounts is a revenue account with a credit balance. A、错误 B、正确

第29题,Merchandising businesses sell products that they purchase from other businesses to customers. A、错误 B、正确

第30题,The accrual basis of accounting requires revenue be recorded when cash is received from customers. A、错误 B、正确

第31题,Managerial accounting is primarily concerned with the recording and reporting of economic data and activities of an entity for use by owners, creditors, governmental agencies, and the public. A、错误 B、正确

第32题,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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第33题,Revenue accounts are increased by credits. A、错误 B、正确

第34题,Capital expenditures are costs that are charged to Stockholders' Equity accounts. A、错误 B、正确

第35题,The matching concept requires expenses be recorded in the same period that the related revenue is recorded. A、错误 B、正确

第36题,Any difference between the fair market values of the securities and their cost is a realized gain or loss. A、错误 B、正确

第37题,A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time. A、错误 B、正确

第38题,The main reason that the bank statement cash balance and the depositor's cash balance do not initially balance is due to timing differences. A、错误 B、正确

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第39题,When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount. A、错误 B、正确

第40题,Accounting is a service that provides many different users with financial information to make economic decisions. A、错误 B、正确

第41题,Bondholders are creditors of the issuing corporation. A、错误 B、正确

第42题,Intangible assets differ from property, plant and equipment assets in that they lack physical substance. A、错误 B、正确

第43题,The declaration and issuance of a stock dividend does not affect the total amount of a corporation's assets, liabilities, or stockholders' equity. A、错误 B、正确

第44题,Bondholders claims on the assets of the corporation rank ahead of stockholders. A、错误 B、正确

第45题,Bonds are sold at face value when the contract rate is equal to the market

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rate of interest. A、错误 B、正确

第46题,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

第47题,The double-entry accounting system records each transaction twice. A、错误 B、正确

第48题,Revenue is earned only when money is received. A、错误 B、正确

第49题,The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business. A、错误 B、正确

第50题,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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