大学《会计学原理》经典练习题.docx

大学《会计学原理》经典练习题.docx

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大学《会计学原理》经典练习题

True/FalseQuestions

1. Accountingisaninformationtsystemthatidentifies,records,andcommunicatesrelevant,reliable,andcomparableformationaboutanorganization'sbusinessactivities. 

TRUE

2. Anaccountinginformationsystemcommunicatesdatatohelpbusinessesmakebetterdecisions. 

TRUE

3. Managerialaccountingistheareaofaccountingthatprovidesinternalreportstoassistthedecisionmakingneedsofinternalusers. 

TRUE

4. Internaloperatingactivitiesincluderesearchanddevelopment,distribution,andhumanresources. 

TRUE

s

5. Externalusersincludelenders,shareholders,customers,andregulators. 

TRUE

6. Regulatorsoftenhavelegalauthorityovercertainactivitiesoforganizations. 

TRUE

7. Internalusersincludelenders,shareholders,brokersandmanagers. 

FALSE

8. Opportunitiesinaccountingincludeauditing,consulting,marketresearch,andtaxplanning. 

TRUE

9. Identifyingtheproperethicalpathiseasy. 

FALSE

10. Goodethicsaregoodbusiness. 

TRUE

11. TheSarbanes-OxleyAct（SOX）doesnotrequirepubliccompaniestoapplybothaccountingoversightandstringentinternalcontrols. 

FALSE

12. Ownersofacorporationarecalledshareholdersorstockholders. 

TRUE

13. Inthepartnershipformofbusiness,theownersarecalledstockholders. 

FALSE

14. Asoleproprietorshipisoneormoreindividualssellingproductsorservicesforprofit. 

FALSE

15. Accountinginformationiscommunicatedtovariouspartiesthroughfinancialstatements. 

TRUE

16. TheFinancialAccountingStandardsBoardistheprivategroupthatsetsbothbroadandspecificaccountingprinciples. 

TRUE

17. Thebusinessentityprinciplemeansthatabusinesswillcontinueoperatingforanindefiniteperiodoftime. 

FALSE

18. Generallyacceptedaccountingprinciplesarethebasicassumptions,concepts,andguidelinesforpreparingfinancialstatements. 

TRUE

19. Thebusinessentityprinciplemeansthatabusinessisaccountedforseparatelyfromotherbusinessentities,includingitsownerorowners. 

TRUE

20. Asageneralrule,revenuesshouldnotberecognizedintheaccountingrecordsuntilitisreceivedincash. 

FALSE

21. Specificaccountingprinciplesarebasicassumptions,concepts,andguidelinesforpreparingfinancialstatementsandariseoutoflong-usedaccountingpractice. 

FALSE

22. Generalaccountingprinciplesarisefromlong-usedaccountingpractice. 

TRUE

23. Asoleproprietorshipisabusinessownedbyoneormorepersons. 

FALSE

24. Unlimitedliabilityisanadvantageofasoleproprietorship. 

FALSE

25 Understandinggenerallyacceptedaccountingprinciplesisnotnecessarytouseandinterpretfinancialstatements. 

FALSE

26. TheInternationalAccountingStandardsboard（IASB）hastheauthoritytoimposeitsstandardsoncompaniesaroundtheworld. 

FALSE

27. Theideathatabusinesswillcontinuetooperateuntilitcansellitsassetstopayitscreditorsunderliesthegoing-concernassumption. 

FALSE

28. Alimitedliabilitycompanyoffersthelimitedliabilityofapartnershiporproprietorshipandthetaxtreatmentofacorporation. 

FALSE

29. TheSecuritiesandExchangeCommission（SEC）isthegovernmentgroupthatestablishesreportingrequirementsforcompaniesthatissuestocktothepublic. 

TRUE

30. TheSecuritiesandExchangeCommission（SEC）istheprivategroupthatsetsbothbroadandspecificaccountingstandards. 

FALSE

31. Thethreecommonformsofbusinessownershipincludesoleproprietorship,partnership,andnon-profit. 

FALSE

32. Thethreemajortypesofbusinessactivitiesareoperating,financing,andinvesting. 

TRUE

33. Planningisdefininganorganization'sideas,goals,andactions. 

TRUE

45. Strategicmanagementistheprocessofdeterminingtherightmixofoperatingactivitiesforthetypeoforganization,itsplans,anditsmarkets. 

TRUE

46. Planningactivitiesarethemeansanorganizationusestopayforresourceslikeland,buildings,andequipmenttocarryoutitsplans. 

FALSE

ve:

C6

47. Thethreemajoractivitiesofabusinessarerecording,financing,andinvesting. 

FALSE

48. Investingactivitiesaretheacquiringandsellingofresourcesthatanorganizationusestoacquireandsellitsproductsorservices. 

TRUE

y

:

C6

49. Ownerfinancingreferstoresourcescontributedbycreditorsorlenders. 

FALSE

y

50. Revenuesareincreasesinequityfromacompany'searningactivities. 

TRUE

s

y

51. Anetlossoccurswhenrevenuesexceedexpenses. 

FALSE

t

52. Netincomeoccurswhenrevenuesexceedexpenses. 

TRUE

t

53. Expensesdecreaseequityandarethecostsofassetsorservicesusedtoearnrevenues. 

TRUE

t

54. Liabilitiesaretheowner'sclaimonassets. 

FALSE

s

y

55. Assetsaretheresourcesownedorcontrolledbyabusiness. 

TRUE

s

y

56. Withdrawalsareexpenses. 

FALSE

s

y

57. Theaccountingequationcanberestatedas:

Assets-Equity=Liabilities. 

TRUE

t

58. Theaccountingequationimpliesthat:

Assets+Liabilities=Equity. 

FALSE

t

59. Thebalancesheetisalsocalledthestatementoffinancialpositionbecauseitdescribesthefinancialpositionofthebusinessatapointintime. 

TRUE

s

y

60. Revenuesoccurwhenexpensesexceedassets. 

FALSE

s

y

61. Acompanymightprovideaserviceorproductoncredit."Oncredit"impliesthatthecashpaymentwilloccuronalaterdate. 

TRUE

t

62. Owner'sinvestmentsaregrossincreasesinequityfromacompany'searningsactivities. 

FALSE

t

63. Thelegitimateclaimsofabusiness'screditorstakeprecedenceovertheclaimsofthebusinessowner. 

TRUE

l

t

64. Netincomeistheexcessofexpensesoverrevenues,whereasnetlossistheexcessofrevenuesoverexpenses. 

FALSE

t

65. Everybusinesstransactionleavestheaccountingequationinbalance. 

TRUE

s

y

66. Anexternaltransactionisanexchangeofvaluewithinanorganization. 

FALSE

s

y

67. Fromanaccountingperspective,aneventisahappeningthataffectsanentity'saccountingequation,butcannotbemeasured. 

FALSE

s

y

68. Owner'sequityisincreasedwhencashisreceivedfromcustomersinpaymentofpreviouslyrecordedaccountsreceivable. 

FALSE

t

69. Anowner'sinvestmentinabusinessalwayscreatesanasset（cash）,aliability（notepayable）,andowner'sequity（investment.） 

FALSE

t

70. Netassetsalwaysincreasewhenrevenueisrecorded. 

TRUE

t

71. Returnonassetsisoftenstatedinratioformastheamountofaveragetotalassetsdividedbyincome. 

FALSE

t

72. Returnonassetsisalsoknownasreturnoninvestment. 

TRUE

s

y

73. Returnonassetsisusefultodecisionmakersforevaluatingmanagement,analyzingandforecastingprofits,andinplanningactivities. 

TRUE

s

y

74. Reebok'snetincomeof$117millionandaverageassetsof$1,400millionresultsinareturnonassetsof8.36%. 

TRUE

t

75. Returnonassetsmeasurestheeffectivenessofanorganization'sabilitytogenerateprofitusingitsassets. 

TRUE

t

:

A4

76. Riskistheamountofuncertaintyaboutthereturnweexpecttoearn. 

TRUE

g

y

:

A4

77. Generallythelowertherisk,thelowerthereturnthatcanbeexpected. 

TRUE

g

:

A4

78. U.S.GovernmentTreasurybondsprovidehighreturnandlowrisktoinvestors. 

FALSE

g

:

A4

79. Thefourbasicfinancialstatementsincludethebalancesheet,incomestatement,statementofowner'sequity,andstatementofcashflows. 

TRUE

s

y

80. Anincomestatementreportsoninvestingandfinancingactivities. 

FALSE

y

81. Abalancesheetcoversaperiodoftimesuchasamonthoryear. 

FALSE

y

82. Theincomestatementisafinancialstatementthatshowsrevenuesearnedandexpensesincurredduringaspecifiedperiodoftime. 

TRUE

y

83. Thestatementofcashflowsshowstheneteffectofrevenuesandexpensesforareportingperiod. 

FALSE

y

84. Theincomestatementshowsthefinancialpositionofabusinessonaspecificdate. 

FALSE

y

85. Thefirstsectionoftheincomestatementreportscashfromoperations. 

FALSE

y

86. Thebalancesheetisbasedontheaccountingequation. 

TRUE

y

87. Owner'scontributionsandwithdrawalsarereportedontheincomestatement. 

FALSE

y

88. Investingactivitiesinvolvethebuyingandsellingofassetssuchaslandandequipmentthatareheldforlong-termuseinthebusiness. 

TRUE

y

89. Operatingactivitiesincludelong-termborrowingandrepayingcashfromlenders,andcashinvestmentsorwithdrawalsbytheowner. 

FALSE

y

90. Thepurchaseofsuppliesappearsonthestatementofcashflowsasaninvestingactivitybecauseitinvolvesthepurchaseofassets. 

FALSE

y

91. Theincomestatementreportsonoperatingactivitiesatapointintime. 

FALSE

y

92. Thestatementofcashflowsreportsoncashflowsseparatedintooperating,investing,andfinancingactivitiesoveraperiodoftime. 

TRUE

y

93. ChuckTaylorinvested$175,000cashinFastForward.Thisamountwouldbereportedinthestatementofcashflowsunderfinancingac