南开2021学期（1709、2103、2109、1903、1909、2003、2009、2103）《会计专业英语》在线作业【答案】奥鹏作业

南开2021学期（1709、2103、2109、1903、1909、2003、2009、2103）《会计专业英语》在线作业【答案】奥鹏作业满分答案

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2021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.A capital expenditure results in a debit to ( )

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A.an expense account

B.a capital account

C.a liability account

D.an asset account

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2.Which of the following is not included in the computation of the quick ratio?

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A.inventory

B.marketable securities

C.accounts receivable

D.cash

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3.The most widely used depreciation method is

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A.straight-line

B.sum-of-the-years-digits

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C.declining-balance

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D.units-of-production

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4.Which of the following entries records the acquisition of office supplies on account?

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A.Office Supplies, debit; Cash, credit

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B.Cash, debit; Office Supplies, credit

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C.Office Supplies, debit; Accounts Payable, credit

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D.Accounts Receivable, debit; Office Supplies, credit

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5.Deferred revenue is revenue that is

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A.earned and the cash has been received

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B.earned but the cash has not been received

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C.not earned and the cash has not been received

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D.not earned but the cash has been received

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6.Notes may be issued （ ）

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A.when assets are purchased

B.to creditor's to temporarily satisfy an account payable created earlier

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C.when borrowing money

D.all of the above

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7.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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8.Stockholders' equity ( )

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A.is usually equal to cash on hand

B.includes paid-in capital and liabilities

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C.includes retained earnings and paid-in capital

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D.is shown on the income statement

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9.One of the main disadvantages of the corporate form is the( )

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A.professional management

B.double taxation of dividends

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C.charter

D.corporation must issue stock

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10.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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11.The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as a month or year, is called a(n)

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A.income statement

B.income statement

C.prior period statement

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D.statement of owner's equity

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

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A.deduction from the balance per depositor's records

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B.addition to the balance per bank statement

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C.deduction from the balance per bank statement

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D.addition to the balance per depositor's records

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13.Cash investments made by the owner to the business are reported on the statement of cash flows in the

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A.financing activities section

B.investing activities section

C.operating activities section

D.supplemental statement

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14.The method of accounting for investments in equity securities in which the investor records its share of periodic net income of the investee is the ( )

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A.cost method

B.market method

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C.income method

D.equity method

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15.The two methods of accounting for investments in stock are the cost method and the ( )

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A.straight-line method

B.equity method

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C.liability method

D.interest method

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16.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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17.On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the （ ）

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A.Uncollectible accounts expense for the year

B.total of the accounts receivables written-off during the year

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C.total estimated uncollectible accounts as of the end of the year

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D.sum of all accounts that are past due.

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21.The most widely used depreciation method is

A.straight-line

B.sum-of-the-years-digits

C.declining-balance

D.units-of-production

19.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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20.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

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A.increase one asset, decrease another asset

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B.decrease an asset, decrease a liability

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C.increase an asset, increase a liability

D.increase an asset, increase owner's equity

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南开2021学期（1709、2103、2109、1903、1909、2003、2009、2103）《会计专业英语》在线作业【答案】奥鹏作业多选题答案

二、判断题 (共 30 道试题,共 60 分)

21.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.

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22.Under the accrual basis for the accounting period concept, revenues are reported in the income statement in the period in which they are earned.

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23.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.

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24.Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.

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

26.The main reason that the bank statement cash balance and the depositor's cash balance do not initially balance is due to timing differences.

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27.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.

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28.During the closing process, some balance sheet accounts are closed and end the period with a zero balance.

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29.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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30.The maturity value of a note receivable is always the same as its face value.

31.The accounting equation can be expressed as Assets - Liabilities = Owner's Equity.

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

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33.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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34.A large retained earnings account means that there is cash available to pay dividends.

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35.The normal balance of the accumulated depreciation account is debit.

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36.The adjusted trial balance verifies that total debits equals total credits before the adjusting entries are prepared.

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37.Under the periodic inventory system, the cost of merchandise sold is recorded when sales are made.

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

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39.Every adjusting entry will affect at least one income statement account and one balance sheet account.

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40.Solvency analysis focuses on the ability of a business to pay its current and noncurrent liabilities.

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41.Solvency analysis focuses on the ability of a business to pay its current and noncurrent liabilities.

42.Under the cash basis for the accounting period concept, revenues and expenses are reported in the income statement in the period in which cash is received or paid.

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

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44.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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45.Consuming goods and services in the process of generating revenues results in expenses.

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46.The effect of a sales return and allowance is a reduction in sales revenue and a decrease in cash or accounts receivable.

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47.Ordinarily, a corporation owning a significant portion of the voting stock of another corporation accounts for the investment using the equity method.

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48.An account receivable is typically classified as a revenue.

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49.A business using the perpetual inventory system, with its detailed subsidiary records, does not need to take a physical inventory.

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

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南开2021学期（1709、2103、2109、1903、1909、2003、2009、2103）《会计专业英语》在线作业【答案】奥鹏作业标准满分答案

19秋学期（1709、1803、1809、1903、1909）《会计专业英语》在线作业-0001

试卷总分:100 得分:100

一、单选题 (共 20 道试题,共 40 分)

1.Low Company owns 40% of the voting stock of High Corporation and uses the equity method in recording this investment. High Corporation reported a $10,000 net loss. Low Corporation's entry would include a ( )

A.Debit to the investment account for $4,000

B.Debit to the investment account for $10,000

C.Debit to a loss account for $4,000

D.Credit to the investment account for $4,000

2.Expenses are reported on the( )

A.statement of owner's equity

B.statement of cash flows

C.income statement

D.balance sheet

3.Financial reports are used by（ ）

A.management

B.investors

C.creditors

D.all of the above

4.During a period of falling prices, which of the following inventory methods generally results in the lowest balance sheet amount for inventory. ( )

A.can not tell without more information

B.average method

C.LIFO method

D.FIFO method

5.Which of the following financial statements reports information as of a specific date?

A.statement of owner's equity

B.statement of cash flows

C.income statement

D.balance sheet

6.Financial statements in which financial data for two or more companies are combined as a single entity are called

A.conventional statements

B.constitutional statements

C.consolidated statements

D.audited statements

7.The characteristics of partnership exclude( )

A.unlimited liability

B.more financial resources than a proprietorship

C.limited liability

D.additional management skills

8.Which of the following below generally is the most useful in analyzing companies of different sizes?

A.price-level accounting

B.comparative statements

C.common-sized financial statements

D.audit report

9.The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as ( )

A.solvency and profitability

B.solvency and liquidity

C.solvency and leverage

D.solvency and equity

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

A.supplies expense

B.sales

C.merchandise inventory

D.cost of merchandise sold

11.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.period of the sale of the product

C.future period when the product is repaired or replaced

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

12.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

13.The account Unrealized Gain (Loss) on Available-For-Sale Securities should be included in the( )

A.Statement of Retained Earnings

B.Income statement as Other Revenue (Expenses)

C.Balance sheet as an adjustment to the asset account

D.Balance sheet as an adjustment to Stockholders' Equity

14.Which of the items below is not a business organization form?( )

A.proprietorship

B.partnership

C.entrepreneurship

D.corporation

15.Austin, Inc. made a Prepaid Rent payment of $3,500 on January 1st. The company’s monthly rent is $700. The amount of Prepaid Rent that would appear on the January 31 balance sheet after adjustment is:

A.$700

B.$3,500

C.$2,800

D.$1,750

16.On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the ( )

A.total of the accounts receivables written-off during the year

B.total estimated uncollectible accounts as of the end of the year

C.sum of all accounts that are past due.

D.Uncollectible accounts expense for the year

17.Which of the following should not be considered cash by an accountant?

A.postage stamps

B.coins

C.bank checking accounts

D.Petty cash funds

18.Which of the following measures a company’s ability to pay its current liabilities?

A.number of times interest charges earned

B.inventory turnover

C.earnings per share

D.current ratio

19.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.period of the sale of the product

C.future period when the product is repaired or replaced

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

20.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.increase an asset, increase owner's equity

C.increase an asset, increase a liability

D.decrease an asset, decrease a liability

二、判断题 (共 30 道试题,共 60 分)

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

22.If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.

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

24.The investor carrying an investment by the equity method records cash dividends received as an increase in the carrying amount of the investment.

25.The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense.

26.The double-entry accounting system records each transaction twice.

27.Sales Discounts is a revenue account with a credit balance.

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

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

30.Intangible assets differ from property, plant and equipment assets in that they lack physical substance.

31.Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.

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

33.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.

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

35.Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.

36.The matching concept supports reporting revenues and related expenses in the same period.

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

38.Dividends in arrears are liabilities of the corporation.

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

40.The main reason that the bank statement cash balance and the depositor's cash balance do not initially balance is due to timing differences.

41.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.

42.When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.

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