南开大学23秋学期《会计专业英语》在线作业一

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-00001

Using accrual accounting, expenses are recorded and reported only( )
A:when they are incurred, whether or not cash is paid
B:when they are incurred and paid at the same time
C:if they are paid before they are incurred
D:if they are paid after they are incurred
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The inventory method that assigns the most recent costs to cost of good sold is
A:FIFO
B:LIFO
C:average
D:specific identification
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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
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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
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Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a
A:credit to Sales Returns and Allowances
B:debit to Merchandise Inventory
C:credit to Merchandise Inventory
D:debit to Cost of Merchandise Sold
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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
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A business paid $7,000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to
A:increase one asset, decrease another asset
B:decrease an asset, decrease a liability
C:increase an asset, increase a liability
D:increase an asset, increase owner's equity
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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
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During a period of falling prices, which of the following inventory methods generally results in the lowest balance sheet amount for inventory. ( )
A:average method
B:LIFO method
C:FIFO method
D:can not tell without more information
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Deferred revenue is revenue that is
A:earned and the cash has been received
B:earned but the cash has not been received
C:not earned and the cash has not been received
D:not earned but the cash has been received
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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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Which of the following should not be considered cash by an accountant?
A:coins
B:bank checking accounts
C:postage stamps
D:Petty cash funds
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Financial reports are used by（ ）
A:management
B:creditors
C:investors
D:all of the above
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Profit is the difference between
A:assets and liabilities
B:the incoming cash and outgoing cash
C:he assets purchased with cash contributed by the owner and the cash spent to operate the business
D:the amounts received from customers for goods or services and the amounts paid for
the inputs used to provide the goods or services
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Notes may be issued ( )
A:when assets are purchased
B:to creditor's to temporarily satisfy an account payable created earlier
C:when borrowing money
D:all of the above
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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
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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
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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
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Which of the items below is not a business organization form?( )
A:entrepreneurship
B:proprietorship
C:partnership
D:corporation
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Which of the following should not be considered cash by an accountant?
A:coins
B:bank checking accounts
C:postage stamps
D:Petty cash funds
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An income statement is a summary of the revenues and expenses of a business as of a specific date.
A:错误
B:正确
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If ending inventory for the year is understated, net income for the year is overstated.
A:对
B:错
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Paying an account payable increases liabilities and decreases assets
A:对
B:错
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The relationship of each asset item as a percent of total assets is an example of vertical analysis.
A:对
B:错
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Bondholders claims on the assets of the corporation rank ahead of stockholders.
A:错误
B:正确
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A sale of treasury stock may result in a decrease in paid-in-capital. All decreases should be charged to the Paid-In-Capital from Sale of Treasury account.
A:对
B:错
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Treasury Stock is listed in the stockholders' equity section on the balance sheet.
A:对
B:错
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During inflationary periods, the use of the FIFO method of costing inventory will result in a greater amount of net income than would result from the use of the LIFO cost method.
A:对
B:错
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When common stock is issued in exchange for land, the land should be recorded in the accounts at the par amount of the stock issued.
A:错误
B:正确
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The journal entry to record the cost of warranty repairs that were incurred during the current 奥鹏南开大学23年秋季新学期作业参考period, but related to sales made in prior years, includes a debit to Warranty Expense.
A:对
B:错
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The accrual basis of accounting requires revenue be recorded when cash is received from customers.
A:错误
B:正确
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The matching concept supports reporting revenues and related expenses in the same period.
A:对
B:错
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The declaration and issuance of a stock dividend does not affect the total amount of a corporation's assets, liabilities, or stockholders' equity.
A:对
B:错
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The double-entry accounting system records each transaction twice.
A:对
B:错
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The effect of a sales return and allowance is a reduction in sales revenue and a decrease in cash or accounts receivable.
A:错误
B:正确
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Under the perpetual inventory system, when a sale is made, both the sale and cost of merchandise sold are recorded.
A:对
B:错
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The amortization of a premium on bonds payable decreases bond interest expense.
A:错误
B:正确
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Capital expenditures are costs that are charged to Stockholders' Equity accounts.
A:对
B:错
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Merchandise that is returned to the vendor is referred to as a sales allowance.
A:对
B:错
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An account receivable is typically classified as a revenue.
A:对
B:错
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The increase side of all accounts is the normal balance.
A:错误
B:正确
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Allowance for Doubtful Accounts is a liability account.
A:对
B:错
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The adjusted trial balance verifies that total debits equals total credits before the adjusting entries are prepared.
A:对
B:错
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Intangible assets differ from property, plant and equipment assets in that they lack physical substance.
A:对
B:错
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When the market rate of interest is less than the contract rate for a bond, the bond will sell for a premium.
A:对
B:错
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Prepaid expenses are an example of an expense.
A:错误
B:正确
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The cost of new equipment is called a revenue expenditure because it will help generate revenues in the future.
A:对
B:错
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The role of accounting is to provide many different users with financial information to make economic decisions.
A:对
B:错
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If the proceeds from the sale of bond investments exceeds the carrying amount of the bonds, a gain is realized.
A:对
B:错
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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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