南开大学23秋学期《会计专业英语》在线作业二

奥鹏南开大学23年秋季新学期作业参考

23秋学期（高起本：1709-2103、专升本/高起专：2003-2103）《会计专业英语》在线作业-00002

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
正确答案问询微信：424329

The income statement is prepared from( )
A:the adjusted trial balance.
B:the income statement columns of the work sheet.
C:either the adjusted trial balance or the income statement columns of the work sheet.
D:both the adjusted trial balance and the income statement columns of the work sheet.
正确答案问询微信：424329

How does paying a liability in cash affect the accounting equation?
A:assets increase; liabilities decrease
B:assets increase; liabilities increase
C:assets decrease; liabilities decrease
D:liabilities decrease; owner's equity increases
正确答案问询微信：424329

The inventory method that assigns the most recent costs to cost of good sold is
A:FIFO
B:LIFO
C:average
D:specific identification
正确答案问询微信：424329

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
正确答案问询微信：424329

The cost method of accounting for stock( )
A:recognizes dividends as income
B:is only appropriate as part of a consolidation
C:requires the investment be increased by the reported net income of the investee
D:requires the investment be decreased by the reported net income of the investee
正确答案问询微信：424329

Cash equivalents( )
A:are illegal in some company
B:will be converted to cash within two years
C:will be converted to cash within 90 days
D:will be converted to cash within 120 days
正确答案问询微信：424329

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 discovered and corrected
D:the bank must make sure that its records are correct
正确答案问询微信：424329

Which of the items below is not a business organization form?( )
A:entrepreneurship
B:proprietorship
C:partnership
D:corporation
正确答案问询微信：424329

The price at which a stock can be sold depends upon a number of factors. Which statement below is not one of those factors?( )
A:the financial condition, earnings record, and dividend record of the corporation
B:investor expectations of the corporation's earning power
C:how high the par value
D:general business and economic conditions and prospects
正确答案问询微信：424329

Which of the following groups are considered to be internal users of accounting information?
A:Employees and customers
B:Customers and vendors
C:Employees and managers
D:Government and banks
正确答案问询微信：424329

Which of the following financial statements reports information as of a specific date?
A:income statement
B:statement of owner's equity
C:statement of cash flows
D:balance sheet
正确答案问询微信：424329

Which of the following below generally is the most useful in analyzing companies of different sizes?
A:comparative statements
B:common-sized financial statements
C:price-level accounting
D:audit report
正确答案问询微信：424329

For accounting purposes, the business entity should be considered separate from its owners if the entity is( )
A:a corporation
B:a proprietorship
C:a partnership
D:all of the above
正确答案问询微信：424329

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
正确答案问询微信：424329

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
正确答案问询微信：424329

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
正确答案问询微信：424329

The debt created by a business when it makes a purchase on account is referred to as an
A:account payable
B:account receivable
C:asset
D:expense payable
正确答案问询微信：424329

The following are examples of external users of accounting information except:
A:government
B:customers
C:creditors
D:all of the above
正确答案问询微信：424329

The most widely used depreciation method is
A:straight-line
B:sum-of-the-years-digits
C:declining-balance
D:units-of-production
正确答案问询微信：424329

During inflationary periods, the use of the LIFO method of costing inventory will result in a greater amount of net income than would result from the use of the FIFO method.
A:错误
B:正确
正确答案问询微信：424329

The allowance for doubtful accounts is similar to accumulated depreciation in that the account represents the total of all accounts written-off since the beginning year.
A:错误
B:正确
正确答案问询微信：424329

The units of production depreciation method matches expenses against revenue the best.
A:对
B:错
正确答案问询微信：424329

The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.
A:对
B:错
正确答案问询微信：424329

Overall objective of financial reporting is to provide financial information useful to internal users in making economic decisions.
A:错误
B:正确
正确答案问询微信：424329

Accounting is a service that provides many different users with financial information to make economic decisions.
A:对
B:错
正确答案问询微信：424329

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
正确答案问询微信：424329

If ending inventory for the year is understated, net income for the year is overstated.
A:错误
B:正确
正确答案问询微信：424329

Bonds are sold at face value when the contract rate is equal to the market rate of interest.
A:对
B:错
正确答案问询微信：424329

If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.
A:对
B:错
正确答案问询微信：424329

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
正确答案问询微信：424329

Allowance for Doubtful Accounts is a liability account.
A:对
B:错
正确答案问询微信：424329

Adjusting entries are needed to ensure that the revenue recognition and matching principles are followed.
A:对
B:错
正确答案问询微信：424329

Temporary investments are reported on the balance sheet at cost.
A:错误
B:正确
正确答案问询微信：424329

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
正确答案问询微信：424329

If the liabilities owed by a business total $500,000, then the assets also total $500,000.
A:对
B:错
正确答案问询微信：424329

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
正确答案问询微信：424329

The book value of a fixed asset reported on the balance sheet represents its market value on that date.
A:对
B:错
正确答案问询微信：424329

The declaration of a stock dividend decreases a corporation's stockholders' equity and increases its liabilities.
A:对
B:错
正确答案问询微信：424329

Bondholders are creditors of the issuing corporation.
A:错误
B:正确
正确答案问询微信：424329

The difference between Accounts Receivable and its contra asset account is called net realizable value.
A:对
B:错
正确答案问询微信：424329

Under the accrual basis for the accounting 奥鹏南开大学23年秋季新学期作业参考period concept, revenues are reported in the income statement in the period in which they are earned.
A:对
B:错
正确答案问询微信：424329

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
正确答案问询微信：424329

If ending inventory for the year is understated, net income for the year is overstated.
A:对
B:错
正确答案问询微信：424329

An account receivable is typically classified as a revenue.
A:对
B:错
正确答案问询微信：424329

An income statement is a summary of the revenues and expenses of a business as of a specific date.
A:对
B:错
正确答案问询微信：424329

Treasury Stock is listed in the stockholders' equity section on the balance sheet.
A:对
B:错
正确答案问询微信：424329

The amortization of a premium on bonds payable decreases bond interest expense.
A:错误
B:正确
正确答案问询微信：424329

Allowance for Doubtful Accounts is a liability account.
A:错误
B:正确
正确答案问询微信：424329

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
正确答案问询微信：424329