南开21秋学期《会计专业英语》在线作业[答案]

南开21秋学期《会计专业英语》在线作业[答案]答案

21秋学期（1709、2103、2109、1903、1909、2003、2009、2103）《会计专业英语》在线作业

试卷总分:100 得分:100

一、单选题 (共 20 道试题,共 40 分)

1.The debt created by a business when it makes a purchase on account is referred to as an

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A.account payable

B.account receivable

C.asset

D.expense payable

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2.When the perpetual inventory system is used, the inventory sold is debited to ( )

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A.supplies expense

B.cost of merchandise sold

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C.merchandise inventory

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D.sales

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3.Using accrual accounting, expenses are recorded and reported only( )

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A.when they are incurred, whether or not cash is paid

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B.when they are incurred and paid at the same time

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C.if they are paid before they are incurred

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D.if they are paid after they are incurred

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4.The accounting equation may be expressed as（ ）

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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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5.The matching concept( )

A.addresses the relationship between the journal and the balance sheet

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B.determines whether the normal balance of an account is a debit or credit

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C.requires that the dollar amount of debits equal the dollar amount of credits on a trial balance

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D.determines that expenses related to revenue be reported at the same time the revenue is reported

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6.Which of the following groups are considered to be internal users of accounting information?

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A.Employees and customers

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B.Customers and vendors

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C.Employees and managers

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D.Government and banks

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7.Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a

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A.credit to Sales Returns and Allowances

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B.debit to Merchandise Inventory

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C.credit to Merchandise Inventory

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D.debit to Cost of Merchandise Sold

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8.Accumulated Depreciation ( )

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A.is used to show the amount of cost expiration of intangibles

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B.is the same as Depreciation Expense

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C.is a contra asset account

D.is used to show the amount of cost expiration of natural resources

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9.The cost method of accounting for stock( )

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A.recognizes dividends as income

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B.is only appropriate as part of a consolidation

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C.requires the investment be increased by the reported net income of the investee

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D.requires the investment be decreased by the reported net income of the investee

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10.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?

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A.owner's equity is overstated

B.cost of merchandise sold is overstated

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C.gross profit is understated

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D.net income is understated

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11.The excess of issue price over par of common stock is termed a(n) （ ）

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A.discount

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B.income

C.deficit

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D.premium

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12.The liability for a dividend is recorded on which of the following dates?

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A.the date of record

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B.the date of payment

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C.the date of announcement

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D.the date of declaration

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13.The journal entry a company uses to record the estimated accrued product warranty liability is （ ）

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A.debit Product Warranty Expense; credit Product Warranty Payable

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B.debit Product Warranty Payable; credit Cash

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C.debit Product Warranty Expense; credit Cash

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D.debit Product Warranty Payable; credit Product Warranty Expense

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14.The excess of issue price over par of common stock is termed a(n) ( )

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A.discount

B.income

C.deficit

D.premium

15.In the accounting cycle, the last step is（ ）

A.preparing the financial statements

B.journalizing and posting the adjusting entries

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C.preparing a post-closing trial balance

D.journalizing and posting the closing entries

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16.The business entity concept means that

A.the owner is part of the business entity

B.an entity is organized according to state or federal statutes

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C.an entity is organized according to the rules set by the FASB

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D.the entity is an individual economic unit for which data are recorded, analyzed, and reported

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17.The term "inventory" indicates ( )

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A.merchandise held for sale in the normal course of business

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B.materials in the process of production or held for production

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C.supplies

D.both A and B

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21.Characteristics of a corporation include ( )

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A.shareholders who are mutual agents

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B.direct management by the shareholders (owners)

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C.its inability to own property

D.shareholders who have limited liability

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19.Cash equivalents（ ）

A.are illegal in some company

B.will be converted to cash within two years

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C.will be converted to cash within 90 days

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D.will be converted to cash within 120 days

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20.Characteristics of a corporation include （ ）

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A.shareholders who are mutual agents

B.direct management by the shareholders (owners)

C.its inability to own property

D.shareholders who have limited liability

南开21秋学期《会计专业英语》在线作业[答案]多选题答案

二、判断题 (共 30 道试题,共 60 分)

21.An income statement is a summary of the revenues and expenses of a business as of a specific date.

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22.The book value of a fixed asset reported on the balance sheet represents its market value on that date.

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23.The statement of cash flows consists of an operating section, an income section, and an equity section.

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24.Primary users of accounting information are accountants.

25.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.

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26.Investments in stocks that are expected to be held for the long term are listed in the stockholder's equity section of the balance sheet.

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27.The prices of bonds are quoted as a percentage of the bonds' market value.

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28.If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.

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29.Treasury Stock is listed in the stockholders' equity section on the balance sheet.

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30.The declaration and issuance of a stock dividend does not affect the total amount of a corporation's assets, liabilities, or stockholders' equity.

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31.Amortization is the allocation process of writing off bond premiums and discounts to interest expense over the life of the bond issue.

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32.The increase side of all accounts is the normal balance.

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33.Treasury Stock is listed in the stockholders' equity section on the balance sheet.

34.If the liabilities owed by a business total $300,000 and owners equity is equal to $300,000, then the assets also total $300,000.

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35.A fixed asset impairments occurs when the fair value of a fixed asset falls below its book value and is not expected to recover.

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36.Dividends in arrears are liabilities of the corporation.

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37.Income is recognized when an increase in future benefits related to an increase in an asset of a decrease of a liability has arisen that can be measured reliably.

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38.The difference between Accounts Receivable and its contra asset account is called net realizable value.

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39.If the liabilities owed by a business total $500,000, then the assets also total $500,000.

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40.Any difference between the fair market values of the securities and their cost is a realized gain or loss.

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41.A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time.

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42.The day on which the board of directors of the corporation distributes a dividend is called the declaration date.

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43.If a firm has a quick ratio of 1, the subsequent payment of an account payable will cause the ratio to increase.

44.Prepaid expenses are an example of an expense.

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45.Primary users of accounting information are accountants.

46.The order of the flow of accounting data is (1) record in the ledger, (2) record in the journal, (3) prepare the financial statements.

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47.The prices of bonds are quoted as a percentage of the bonds' market value.

48.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.

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49.When old equipment is traded in for a new equipment, the difference between the list price and the trade in allowance is called boot.

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50.Revenue accounts are increased by credits.

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南开21秋学期《会计专业英语》在线作业[答案]历年参考题目如下：

18秋学期（1709、1803、1809）《会计专业英语》在线作业-0002

试卷总分:100 得分:0

一、 单选题 (共 20 道试题,共 40 分)

1.When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are

A.convertible bonds

B.unsecured bonds

C.debenture bonds

D.callable bonds

2.The cost of a product warranty should be included as an expense in the （ ）

A.period the cash is collected for a product sold on account

B.future period when the cost of repairing the product is paid

C.period of the sale of the product

D.future period when the product is repaired or replaced

3.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

4.Accumulated Depreciation ( )

A.is used to show the amount of cost expiration of intangibles

B.is the same as Depreciation Expense

C.is a contra asset account

D.is used to show the amount of cost expiration of natural resources

5.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

6.The interest rate specified in the bond indenture is called the （ ）

A.discount rate

B.contract rate

C.market rate

D.effective rate

7.The primary purpose of a stock split is to （ ）

A.increase paid-in capital

B.reduce the market price of the stock per share

C.increase the market price of the stock per share

D.increase retained earnings

8.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.

9.Expenses are reported on the（ ）

A.income statement

B.statement of owner's equity

C.statement of cash flows

D.balance sheet

10.The amount of the outstanding checks is included on the bank reconciliation as a(n) （ ）

A.deduction from the balance per depositor's records

B.addition to the balance per bank statement

C.deduction from the balance per bank statement

D.addition to the balance per depositor's records

11.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

12.The liability for a dividend is recorded on which of the following dates?

A.the date of record

B.the date of payment

C.the date of announcement

D.the date of declaration

13.Characteristics of a corporation include （ ）

A.shareholders who are mutual agents

B.direct management by the shareholders (owners)

C.its inability to own property

D.shareholders who have limited liability

14.Which statement below is not a reason for a corporation to buy back its own stock.

A.resale to employees

B.bonus to employees

C.for supporting the market price of the stock

D.to increase the shares outstanding

15.Financial reports are used by（ ）

A.management

B.creditors

C.investors

D.all of the above

16.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

17.A characteristic of a fixed asset is that it is （ ）

A.intangible

B.used in the operations of a business

C.held for sale in the ordinary course of the business

D.none of the above

18.Revenue should be recognized when（ ）

A.cash is received

B.the service is performed

C.the customer places an order

D.the customer charges an order

19.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

20.The most widely used depreciation method is

A.straight-line

B.sum-of-the-years-digits

C.declining-balance

D.units-of-production

二、 判断题 (共 30 道试题,共 60 分)

1.The amortization of a premium on bonds payable decreases bond interest expense.

A.错误

B.正确

2.Bonds are sold at face value when the contract rate is equal to the market rate of interest.

A.错误

B.正确

3.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

4.All property, plant, and equipment assets are depreciated over time.

A.错误

B.正确

5.Dividends in arrears are liabilities of the corporation.

A.错误

B.正确

6.The cost of new equipment is called a revenue expenditure because it will help generate revenues in the future.

A.错误

B.正确

7.Investments in stocks that are expected to be held for the long term are listed in the stockholder's equity section of the balance sheet.

A.错误

B.正确

8.Accounting is a service that provides many different users with financial information to make economic decisions.

A.错误

B.正确

9.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

10.When using the FIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.

A.错误

B.正确

11.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

12.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

13.Prepaid expenses are an example of an expense.

A.错误

B.正确

14.Temporary investments are reported on the balance sheet at cost.

A.错误

B.正确

15.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

16.Allowance for Doubtful Accounts is a liability account.

A.错误

B.正确

17.For a current liability to exist, the following two tests must be met. The liability must be due usually within a year and must be paid out of current assets.

A.错误

B.正确

18.Information is material if its omission or misstatement could influence the economic decisions of users.

A.错误

B.正确

19.Even when a trial balance is in balance, there may be errors in the individual accounts.

A.错误

B.正确

20.Bondholders are creditors of the issuing corporation.

A.错误

B.正确

21.Income is recognized when an increase in future benefits related to an increase in an asset of a decrease of a liability has arisen that can be measured reliably.

A.错误

B.正确

22.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

23.The statement of cash flows consists of an operating section, an income section, and an equity section.

A.错误

B.正确

24.When old equipment is traded in for a new equipment, the difference between the list price and the trade in allowance is called boot.

A.错误

B.正确

25.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

26.Primary users of accounting information are accountants.

A.错误

B.正确

27.The prices of bonds are quoted as a percentage of the bonds' market value.

A.错误

B.正确

28.The difference between Accounts Receivable and its contra asset account is called net realizable value.

A.错误

B.正确

29.Revenue accounts are increased by credits.

A.错误

B.正确

30.The balance of the allowance for doubtful accounts is added to accounts receivable on the balance sheet.

A.错误

B.正确