《专业英语习题》word版

1、专业英语习题一、单项选择题1. Which of the following are reported in the stockholders equity section of the balance sheet? ( )revenues and expenses dividends and retained earningscommon stock and dividends common stock and retained earnings2. Current assets are presented in the balance sheet in order of ( ) dolla

2、r amounts liquidity solvency the alphabet 3. Current liabilities include all of the following except ( )accrued wages payable advance received from customercurrent portion of long-term loan prepaid expenses 4. Credit terms of 2/10 n/30 indicate: ( ) a 2% discount if 10 items are purchasedno payment

3、is required until the 31st day after the invoice datea 10% discount if 2 items are purchased.a 2% discount for amounts paid within 10 days of the invoice and the remaining balance due within 30 days5. Which statement regarding the inventory turnover ratio is Not True? ( ) The ratio measures the aver

4、age rate of speed inventories move through and out of company.Inventory turnover=Average Inventory COGS Inventory turnover figures vary considerably from industry to industry.A low inventory turnover can result from an overextended inventory position or from inadequate sales volume.6. Which statemen

5、t regarding the liabilities and owners equity section of balance sheet is False? ( )Payment of Dividend Payable eliminates both the assets and the owners equityLiabilities are debts or obligations that must be discharged in money or services in the futureOwners equity is a residual claim to the rema

6、ining assets after discharge of debts.Balance sheet of corporations should separate Capital Stock and Retained Earnings.7. What is the difference between the quick and current ratio? ( ) The quick ratio deals with the companys ability to pay its liabilities whereas the current ratio does notThe curr

7、ent ratio is a more stringent(严格的) test of liquidity than the quick ratio.The quick ratio excludes inventory, which the current ratio includes for calculation purposes.Management primarily uses the current ratio whereas investors and analysts are the primary users of the quick ratio.8. What of the f

8、ollowing is Not an example of apportionment of recorded costs? ( ) Depreciation of fixed assetsReallocation of receipts in advance.Expiration of insurance premium.Consume of supplies.9. For its most recent year, a corporation had beginning and ending accounts receivable balances of $50,000 and $60,0

9、00, respectively. The years sales on account were $800,000. What was the amount of cash received from customers during the year? ( )$790,000$820,000$810,000$800,00010. Sales revenue $200,000, beginning inventory $30,000, inventory purchased $100,000 and inventory sold $90,000. It is true that ( ) go

10、ods available for sale (GAFS) equals $200,000gross profit equals $110,000ending inventory equals $30,000cost of goods sold (COGS) equals $40,000二、多项选择题1. Three major fields of accounting activity are: ( ) social accounting private accountingpublic accountinggovernmental accounting2. The three forms

11、of business organizations are: ( ) CorporationEnterprise.Single proprietorship Partnership3. Specialized fields of accounting include: ( ) cost accountingtax accountinggovernmental and not-for-profit accountingHR accountinginternational accounting4. The interested users of financial information incl

12、ude: ( ) Banks and other creditorsManagersStockholdersInvestment advisorsGovernmental agencies5. Long-term assets can be further classified into: ( ) long-term investments fixed assetsintangible assets.capital stock6. The necessary data for preparing the balance sheet and income statement are accumu

13、lated in major categories of ledger accounts including: ( ) assets accountsliabilities accounts owners equity accountsrevenues accountsexpenses accounts7. Adjusting entries made to align revenue and expense with the appropriate periods consist of: ( ) Apportioning recorded cost to periods benefited.

14、Apportioning recorded revenue to periods in which it is earnedAccruing unrecorded expensesAccruing unrecorded revenue Merchandise inventory adjustment8. Assume ending inventory is overstated because some inventory is accidentally counted twice. Which of the statements below regarding this situation

15、is true? ( ) Net income for this accounting period will be overstated.COGS for this accounting period will be overstatedNet income in the next accounting period will be understated.Ending Retained Earnings in the next accounting period will be correct. 9. Which statement below regarding closing proc

16、edures is correct? ( ) Closing procedures only apply to temporary accounts. Closing the books means to prepare the accounts for next periods transactions.The closing process only applies to permanent accounts.Eventually closing entries transfer temporary account balances to Retained Earnings.三、判断题Th

17、e normal balance of an account appears on the side for recording increases ( )It is customary to include any amounts received from customers but has not yet earned as revenue in current liability. ( ) Financial position of an organization can best be determined by referring to the income statement.

18、( )Managerial accounting is governed by GAAP. ( ) Current assets are presented in the order of liquidity or convertibility into cash; while current liabilities are listed in the order that they come due. ( ) Closing procedures only apply to permanent accounts. ( )Net income or net loss in the income statement is reflected in the owners equity section on the balance sheet at the e