会计专业英语

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会计专业英语

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words and phrases 残值 scrip value

分期付款 installment

concern 企业

reversing entry 转回分录

找零 change

报销 turn over

past due 过期

inflation 通货膨胀

on account 赊账

miscellaneous expense 其他费用

charge 收费

汇票 draft

权益 equity

accrual basis 应计制

retained earnings 留存收益

trad-in 易新，以旧换新

in transit 在途

collection 托收款项

资产 asset

proceeds 现值

报销 turn over

dishonor 拒付

utility expenses 水电费

outlay 花费

IOU 欠条

Going-concern concept 持续经营

运费 freight

Multiple-choice question

1.Which of the following does not describe accounting? ( C )

A. Language of business

B. Useful ofr decision making

C. Is an end rathe than a means to an end.

https://www.sodocs.net/doc/866132257.html,ed by business, government, nonprofit organizations, and individuals.

2.An objective of financial reporting is to ( B )

A. Assess the adequacy of internal control.

B.Provide information useful for investor decisions.

C.Evaluate management results compared with standards.

D.Provide information on compliance with established procedures.

3.Which of the following statements is(are) correct?( B )

A.Accumulated depreciation represents a cash fund being accumulated for the replacement of plant assets.

B.A company may use different depreciation methods in its financial statements and its income tax return.

C.The cost of a machine includes the cost of repairing damage to the machine during the installation process.

D.The use of an accelerated depreciation method causes an asset to wear out more quickly than does use of the unit-of-product method.

4. Which of the following is(are) correct about a company’s balance sheet? ( B )

A.It displays sources and uses of cash for the period.

B.It is an expansion of the basic accounting equation

C.It is not sometimes referred to as a statement of financial position.

D.It is unnecessary if both an income statement and statement of cash flows are availabe.

5.Objectives of financial reporting to external investors and creditors include preparing information about all of the following except. ( A )

https://www.sodocs.net/doc/866132257.html,rmation used to determine which products to poduce

https://www.sodocs.net/doc/866132257.html,rmation about economic resources, claims to those resources, and changes in both resources and claims.

https://www.sodocs.net/doc/866132257.html,rmation that is useful in assessing the amount, timing, and uncertainty of future cash flows.

https://www.sodocs.net/doc/866132257.html,rmation that is useful in making ivestment and credit decisions.

6.Each of the following measures strengthens internal control

over cash receipts except. ( C )

A.The use of a petty cash fund.

B.Preparation of a daily

listing of all checks received through the mail.

C.The use of cash registers.

D.The deposit of cash receipts in the bank on a daily basis.

7.The primary purpose for using an inventory flow assumption is to. ( A )

A.Offset against revenue an appropriate cost of goods sold.

B.Parallel the physical flow of units of merchandise.

C.Minimize income taxes.

D.Maximize the reported amount of net income.

8.In general terms, financial assets appear in the balance sheet at. ( B )

A.Current value

B.Face value

C.Cost

D.Estimated future sales value.

9.If the going-concem assumption is no longer valid for a company except. ( C )

https://www.sodocs.net/doc/866132257.html,nd held as an ivestment would be valued at its liquidation value.

B.All prepaid assets would be completely written off immediately.

C.Total contributed capital and retained earnings would remain unchanged.

D.The allowance for uncollectible accounts would be eliminated.

10.Which of the following explains the debit and credit rules relating to the recording of revenue and expenses?( C )

A.Expenses appear on the left side of the balance sheet and are recorded by debits;revenue appears on the right side of the balance sheet and is reoorded by credits.

B. Expenses appear on the left side of the income statement and are recorded by debits; Revenue appears on the right side of the income statement and is recorded by credits.

C.The effects of revenue and expenses on owners’ equity.

D.The realization principle and the matching principle.

11.Which of the following statements is(are) correct?( B )

A.Accumulated depreciation represents a cash fund being accumulated for the replacement of plant assets.

B.The cost of a machine do not includes the cost of repairing damage to the machine during the installation prcess.

C.A company may use same depreciation methods in its finacial statements and its income tax return.

D.The use of an accelerated depreciation method causes an asset to wear out more quickly than does use of the straight-line method.

12.A set of financial statements ( B ) except.

A.Is intended to assist users in evaluating the financial position, profitability, and future prospects of an entity.

B.Is intended to assist the Intemal Revenue Service in detemining the amount of income taxes owed by a business organization.

C.Includes notes disclosing information necessary for the proper interpretation of the statements.

D.Is intended to assist investors and creditors in making decisions inventory the allocation of economic resources.

13.The primary purpose for using an inventory flow assumption is to. ( B )

A.Parallel the physical flow of units of merchandise.

B.Offset against revenue an appropriate cost of goods sold

C.Minimize income taxes.

D.Maximize the reported amount of net income.

14.Indicate all correct answers. In the accounting cycle. ( D )

A.Transactions are posted before they are journalized.

B.A trial balance is prepared after journal entries haven’t been posted.

C.The Retained Earnings account is not shown as an up-to-date figure in the trial balance.

D.Joumal entries are posted to appropriate ledger accounts.

15.According to text, Objectives of Financial Reporting by Business Enterprises. ( D )

A.Extemal users have the ability to prescribe information they want.

https://www.sodocs.net/doc/866132257.html,rmation is always based on exact measures.

C.Financial reporting is usually based on industries or the economy as a whole.

D.Financial accounting does not directly measure the value of a business enterprise.

16.Indicate all correct answers. Dividends except ( A )

A.Decrease owners’ equi ty.

B.Decrease net income

C.Are recorded by debiting the Cash account

D.Are a business expense

17.Which of the following practices contributes to efficient cash management? ( C )

A.Never borrow money-maintain a cash balance sufficient to make all necessary payments.

B.Record all cash receipts and cash payments at the end of the month when reconciling the bank statements.

C.Prepare monthly forecasts of planned cash receipts, payments, and anticipated cash balances up to a year in advance.

D.Pay each bill as soon as the invoice arrives.

18.Which of the following would you expect to find in a correctly prepared income statement? ( A )

A.Revenues earned during the period.

B.Cash balance at the end of the period.