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? ( ) a. revenues and expenses b. dividends and retained earnings c. common stock and dividends d. common stock and retained earnings

2. Current assets are presented in the balance sheet in order of ( ) a. dollar amounts b. liquidity

c. solvency d. the alphabet

3. Current liabilities include all of the following except ( ) a. accrued wages payable b. advance received from customer

c. current portion of long-term loan d. prepaid expenses

4. Credit terms of 2/10 n/30 indicate: ( ) a. a 2% discount if 10 items are purchased

b. no payment is required until the 31st day after the invoice date c. a 10% discount if 2 items are purchased.

d. a 2% discount for amounts paid within 10 days of the invoice and the remaining balance due within

30 days

5. Which statement regarding the inventory turnover ratio is Not True? ( )

a. The ratio measures the average rate of speed inventories move through and out of company. b. Inventory turnover=Average Inventory  COGS

c. Inventory turnover figures vary considerably from industry to industry.

d. A low inventory turnover can result from an overextended inventory position or from inadequate

sales volume.

6. Which statement regarding the liabilities and owners‟ equity section of balance sheet is False? ( )

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a. Payment of Dividend Payable eliminates both the assets and the owners‟ equity

b. Liabilities are debts or obligations that must be discharged in money or services in the future c. Owners‟ equity is a residual claim to the remaining assets after discharge of debts. d. Balance sheet of corporations should separate Capital Stock and Retained Earnings. 7. What is the difference between the quick and current ratio? ( )

a. The quick ratio deals with the company‟s ability to pay its liabilities whereas the current ratio does

not

b. The current ratio is a more stringent(严格的) test of liquidity than the quick ratio.

c. The quick ratio excludes inventory, which the current ratio includes for calculation purposes. d. Management primarily uses the current ratio whereas investors and analysts are the primary users

of the quick ratio.

8. What of the following is Not an example of apportionment of recorded costs? ( ) a. Depreciation of fixed assets b. Reallocation of receipts in advance. c. Expiration of insurance premium. d. Consume of supplies.

9. For its most recent year, a corporation had beginning and ending accounts receivable balances of $50,000 and $60,000, respectively. The year's sales on account were $800,000. What was the amount of cash received from customers during the year? ( ) a. $790,000 b. $820,000 c. $810,000 d. $800,000

10. Sales revenue $200,000, beginning inventory $30,000, inventory purchased $100,000 and inventory sold $90,000. It is true that ( )

a. goods available for sale (GAFS) equals $200,000 b. gross profit equals $110,000 c. ending inventory equals $30,000

d. cost of goods sold (COGS) equals $40,000

11. Users of financial information may be classified as internal or external. Which following statement is true regarding financial information users? ( )

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a. External users evaluate the performance of a company's management using management

accounting reports.

b. Financial accounting provides information to managers and external users, such as potential

investors.

c. Many laws require managerial accounting reports be reported to various levels of the government. d. Management accounting provides information to managers and external users, such as potential

investors.

12. What does the term „net realizable value‟ mean regarding Accounts Receivable? ( ) a. Net realizable value is the balance in the Accounts Receivable account as of a given date.

b. Net realizable value is what a company‟s Accounts Receivable accounts will bring if they are sold

to a third party.

c. Accounts Receivable less Allowance for Uncollectible Accounts will equal the net realizable value

of Accounts Receivable

d. Net realizable value is the balance in the Allowance for Uncollectible Accounts as of a given date. 13. Which of the following statements about a trail balance is incorrect? ( )

a. It‟s primary purpose is to prove the mathematical equality of debits and credits after posting b. It uncovers certain errors in the journalizing and posting c. It is useful in the preparation of financial statements d. It proves that all transactions have been recorded.

14. In the closing process all of the revenues and expenses account balances are transferred to the ( )

a. capital account b. income summary account

c. retained earnings account d. dividends account

15. The post-closing trial balance consists only of ( ) a. Asset and liability accounts b. temporary accounts

c. revenue and expense accounts d. permanent accounts

16. Which of the following statements is True? ( )

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a. The credit side of an account implies something favorable. b. For a given account, total debits must always equal total credits. c. Transactions are initially recorded in a ledger account

d. Journalizing means entering the economic effect of each transaction in a journal in chronological

order under the double-entry system.

17. Financial statements can be prepared from ( ) a. the trial balance b. the adjusted trial balance c. the journal d. the ledger

18. Which of the following statements is False? ( ) a. After a bank reconciliation has been completed, the company must make journal entries to adjust

for all outstanding checks.

b. A bank reconciliation for the moth of September will begin with “balance per book” and “balance

per bank statement” at September 30.

c. A check that is outstanding for two consecutive months should be included in both months‟ bank

reconciliations.

d. A credit memorandum on a bank statement indicates an addition to the bank balance. 19. Voucher Register is ( ) a. A record of vouchers that have been paid

b. The journal that contains a record of each approved voucher c. A list of debts

d. A document that authorizes payment.

20. Estimated bad debts as presented on the income statement is ( ) a. Allowance for uncollectible accounts b. Credit

c. Uncollectible accounts expense d. Revenue

21. The GAAP assets that an item should be included in a financial statement if its omission or misstatement would tend to mislead the users of financial statements is known as ( ) a. the cost-benefit criterion

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b. the going concern convention c. the materiality convention d. reliability

22. Accounts receivable, notes receivable, and interest receivable are all classified as __________ on the balance sheet. ( ) a. assets b. liabilities c. owners' equity d. receivables

23. Which book or document is a list of all accounts and their balances? ( a. the journal b. the trial balance c. the ledger

d. the chart of accounts 二、多项选择题

1. Three major fields of accounting activity are: ( ) a. social accounting b. private accounting c. public accounting d. governmental accounting

2. The three forms of business organizations are: ( ) a. Corporation b. Enterprise.

c. Single proprietorship d. Partnership

3. Specialized fields of accounting include: ( ) a. cost accounting b. tax accounting

c. governmental and not-for-profit accounting d. HR accounting e. international accounting

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4. The interested users of financial information include: ( ) a. Banks and other creditors b. Managers c. Stockholders d. Investment advisors e. Governmental agencies

5. Long-term assets can be further classified into: ( ) a. long-term investments b. fixed assets c. intangible assets. d. capital stock

6. The necessary data for preparing the balance sheet and income statement are accumulated in major categories of ledger accounts including: ( ) a. assets accounts b. liabilities accounts c. owners‟ equity accounts d. revenues accounts e. expenses accounts

7. Adjusting entries made to align revenue and expense with the appropriate periods consist of: ( )

a. Apportioning recorded cost to periods benefited.

b. Apportioning recorded revenue to periods in which it is earned c. Accruing unrecorded expenses d. Accruing unrecorded revenue e. Merchandise inventory adjustment

8. Assume ending inventory is overstated because some inventory is accidentally counted twice. Which of the statements below regarding this situation is true? ( ) a. Net income for this accounting period will be overstated. b. COGS for this accounting period will be overstated

c. Net income in the next accounting period will be understated.

d. Ending Retained Earnings in the next accounting period will be correct.

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9. Which statement below regarding \"closing procedures\" is correct? ( ) a. Closing procedures only apply to temporary accounts.

b. Closing the books means to prepare the accounts for next period's transactions. c. The closing process only applies to permanent accounts.

d. Eventually closing entries transfer temporary account balances to Retained Earnings.

三、判断题

1. The normal balance of an account appears on the side for recording increases ( )

2. It is customary to include any amounts received from customers but has not yet earned as revenue in

current liability. ( )

3. Financial position of an organization can best be determined by referring to the income statement.

( )

4. Managerial accounting is governed by GAAP. ( )

5. 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. ( )

6. Closing procedures only apply to permanent accounts. ( )

7. Net income or net loss in the income statement is reflected in the owners‟ equity section on the balance

sheet at the end of the accounting period. ( )

8. Retained earning represents exactly what the term implies: that portion of net income the company has

retained. ( )

9. Business firms whose accounting year ends on December 31 are said to be on a calendar-year basis.

( )

10. The income statement subtracts assets from revenues to determine income or loss for a period time.

( )

11. Posting transfers journal entries to ledger accounts. ( )

12. When interim financial statement are being prepared, usually adjustments are made only on the

worksheet and will not be recorded in the journal and posted to the ledger account.. ( )

13. In order to permit normal recording of subsequent payments or receipts, it is desirable to make

reversing entries at the end of the accounting period. ( )

14. The entry to write off a specific uncollectible account has no effect on net realizable Account

Receivable account. ( )

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15. In the case of corporation, the Income Summary account will be closed to the Retained Earnings

account, which is kept separately from the Capital Stock account. ( ) 16. COGS =Beginning inventory－Net purchase－Ending inventory ( )

17. In order to permit normal recording of subsequent payment or receipts, it is desirable to make

reversing entries at the beginning of next accounting period. ( )

18. The entry to write off a specific uncollectible account has no effect on net income and on total assets.

( )

19. The terms debit and credit are used to describe the right-hand and left hand sides of any “two-column”

account. ( )

20. Business firms whose accounting year ends on December 31 are said to be on a fiscal year basis.

( )

21. All adjusting entries will affect one balance sheet account and one income statement account. ( ) 22. Expense accounts are closed by debiting each expense account and crediting Retained Earnings ( ) 23. Closing entries produce a zero balance in revenue accounts, asset accounts and dividend accounts.

( )

24. The adjusted trial balance contains all of the data needed for preparation of the income statement,

retained earnings statement and the balance sheet. ( )

25. The balance sheet presents a company‟s assets, liabilities and stockholders equity at a specific point in

time. ( )

26. Posting transfers ledger transaction data to journal. ( )

27. The presentation of the owners‟ equity section is same for three types of business organization. ( )

四、业务题

1. The night manager of Majestic Limousine Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2001. The dollar amounts were taken directly from the company‟s accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the classification of assets, liabilities, and owner‟s equity.

MAJESTIC LIMO Manager‟s report 8 p.m. Thursday Assets

Owner‟s Equity 8

J. Snow, Capital……………… $162,000 Accounts Receivable………….. Cash………………………….. 69,000 Notes Payable…………………. $ 78,000 288,000 Building……………………… 80,000 Supplies………………………… 14,000 Automobiles…………………. 165,000 Land…………………………… 70,000 Accounts Payable……………… 26,000 $476,000 $476,000 Prepare a corrected balance sheet. Include a proper heading.

2. An inexperienced accountant for Fowler Company prepared the following income statement for the month of August 2001: Instruction:

FOWLER COMPANY August 31,2001 Revenues: Services provided to customers……………………………$10,000 Investment by O. Fowler, owner………… ……………… 5,000 Loan from bank……………………………… ..15,000 Expenses: Payments to long-term creditors…………………… …$8,000 Expenses required to provide Services to customers………… ………………………7,500 Purchase of land……………………… ……………..……16,000 $30,000 31,500 $1,500 Prepare a revised income statement in accordance with generally accepted accounting principles. 3. The following accounts show the first six transactions of the Gutierez. Construction Company. Prepare a journal entry (including written explanation) for each transaction.

Cash Nov.1 120,000 Nov. 8 33,600 Nov. 25 12,000 Land Nov.8 70,000 Building Nov.8 58,600 Office Equipment

Vehicles Nov.30 9,400 Notes Payable Nov.25 12,000 Nov.8 95,000 Accounts Payable Nov.21 480 Nov.15 3,200 Joe Gutierrez, Capital 9

Nov.15 3,200 Nov.21 480

Nov.1 120,000 Nov.30 9,400 4. Louis Dixon, a dentist, begin his own dental practice. The practice was organized as a sole proprietorship. The business transactions during September are listed below.

Sept. 1 Dixon opened a bank account in the name of the business by depositing $50,000 cash., which he

had saved over a number of years.

Sept.10 Purchased a small office building for a total price of $182,400, of which $106,000 was

applicable to the land and $76,400 to the building. A cash payment of $36,500 was made and a note payable was issued for the balance of the purchase price.

Sept 15 Purchased a microcomputer system from Computer Stores, inc. for $4,680 cash.

Sept.19 Purchased office furnishings, at a cost of $5,760. A cash down payment of $960 was made, the

balance to be paid in future.

Instruction

prepare journal entries to record the above transactions. Select the appropriate account titles from the following chart of accounts:

cash； office furnishings； notes payable； accounts receivable； land； accounts payable； building； Louis Dixon, Capital； Computer System

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《专业英语习题》参考答案

一、单项选择题

1.d 2.b 3.d 4.d 5.b 6.a 7.c 8.b 9.a 10.b 11.b 12.c 13.d 14.b 15.d 16.d 17.b 18.a 19.b 20.c 21.c 22.a 23.b

二、多项选择题

1.bcd 2.acd 3.abcde 4.abcde 5.abc 6.abcde 7.abcde 8.acd 9.abd

三、判断题

1.T 2.T 3.F 4.F 5.T 6.F 7.T 8.T 9.T 10.F 11.T 12.T 13.F 14. T 15.T 16.F 17.T 18.T 19.T 20.F 21.F 22.F 23.F 24.T 25.T 26.F 27.F

四、业务题 1. Answer: MAJESTIC LIMO Balance Sheet February 28, 2001 Assets Liabilities & Owner’s Equity Cash………………………….. 69,000 Notes Payable…………………. 288,000 Accounts Receivable………….. 78,000 Accounts Payable……………… 26,000 Supplies………………………… 14,000 Total Liabilities 314,000 Automobiles…………………. 165,000 J. Snow, Capital……………… 162,000 Building……………………… 80,000 Land…………………………… 70,000 Total Assets $476,000 Total Liabilities & Owner’s Equity $476,000

2. Answer: FOWLER COMPANY Income Statement August 31,2001 Revenues: Services provided to customers………………………………………………… $10,000 Operating Expenses: Expenses required to provide Services to customers………………………… 7,500 Operating Income 2,500

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Net income 2,500

3. Answer:

Nov. 1 Cash 120000 J G., Capital 120000 J G, the owner, deposit inbusiness' account Nov. 8 Land 70000 Building 58600 Notes payable 95000 Cash 33600 Buy land and building, using cash and notes payable Nov. 15 Office Equipment 3200 Accounts payable 3200 Buy office equipment Nov. 21 Accounts payable 480 Office Equipment 480 return parts of office equipment bought on Nov.15 Nov. 25 Notes payable 12000 cash 12000 payment against notes payable Nov. 30 Vehicles 9400 J G, Capital 9400 J G, the owner, invest vehicles

4. Answers:

Sept. 1 Dr. cash 50,000

Cr.Louis Dixon, capital 50,000 Sept.10 Dr. Land 106,000 Building 76,400

Cr. Cash 36,500 Note payable 145,900 Sept 15 Dr. computer system 4,680

Cr. Cash 4,680 Sept.19 Dr. Office furnishing 5,760

Cr. Cash 960 Accounts payable 4,800

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