财务会计概念与应用题库Stu14 Chap maqWord格式.docx

财务会计概念与应用题库Stu14 Chap maqWord格式.docx

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3Theprimaryusersofexternalfinancialreportsare:

a.thosewhodirectday-to-dayoperationsofabusinessenterprise.

b.individualswhohaveaneconomicinterestinthefirmbutwhoarenotpartofmanagement.

c.managersofanenterprisewhoplan,implementplans,andcontrolcosts.

d.noneoftheabove.

4Whichprimaryfinancialstatementshowsabusinessenterprise'

sresources,obligations,andequities?

a.Statementofcashflows

b.Balancesheet

c.Incomestatement

d.Statementofretainedearnings

5Whichprimaryfinancialstatementshowsabusinessenterprise'

sexcessofrevenuesoverexpenses?

6WhichofthefollowingisNOTtrueoftheSecuritiesandExchangeCommission（SEC）?

a.TheSECischargedwithprotectinginvestorsfromlosingmoney.

b.CongresshasgiventheSECspecificlegalauthoritytoestablishaccountingstandards.

c.Asaresultoftheaccountingscandalsof2001-2002,theSECwasgivenmoreauthoritytosetstandards.

d.TheSECcouldtakeovertheroleofstandardsettinginaccountingiftheFASBlosescredibility.

7WhichofthefollowingisNOTtrueregardingtheInternationalAccountingStandardsBoard（IASB）?

a.IASBstandardsaregainingincreasingacceptancethroughouttheworld.

b.ThepurposeoftheIASBistoharmonizeconflictingaccountingstandardsofvariouscountries.

c.TheaccountingstandardsproducedbytheIASBarereferredtoasInternationalFinancialReportingStandards（IFRS'

s）Note:

the200countryreferencewasnotcitedinthetext.

d.TheIASBstandardsareacceptedintheUnitedStates.

8Severalorganizationshavedevelopedcodesofethicsforaccountants.WhichofthefollowingorganizationsdidNOTdevelopacodeofethicsforaccountants?

a.AmericanInstituteofCertifiedPublicAccountants（AICPA）

b.InstituteofManagementAccountants（IMA）

c.SecuritiesExchangeCommission（SEC）

d.Alloftheabovedevelopedacodeofethicsforaccountants.

9Technologyhasimpactedaccountinginmanyways.WhichofthefollowingisNOTachangeinaccountingduetotechnology?

a.Technologyhasreplacedjudgment.

b.Technologyhasallowedusersaccesstomorethanjustsummarizeddata.

c.Technologyallowsmoredetailedinformationtobegathered.

d.Technologyhasreducedthelikelihoodoferrorsinaccountingdata.

Chapter2

1.Obligationstopaycash,transferotherassets,orprovideservicesare:

a.assets.

b.liabilities.

c.equities.

d.expenses.

B

2Theinterrelationshipsamongthefinancialstatementsiscalled:

a.disclosure.

b.articulation.

c.recognition.

d.reconciliation.

3Thestatementoffinancialpositionisalsoknownasthe:

a.statementofcashflows.

b.balancesheet.

c.incomestatement.

d.retainedearningsstatement.

4WhichofthefollowingisNOTnormallyconsideredtobeanasset?

a.Retainedearnings

b.Cash

c.Buildings

d.Accountsreceivable

5Ifacompanyhas$15,000inassetsand$10,000inequities,thenliabilitiesare:

a.$25,000.

b.$10,000.

c.$5,000.

d.$0.

6Assetsconsumedthroughbusinessoperationsarecalled:

a.liabilities.

b.expenses.

d.netincome.

7Grossprofitiscalculatedas:

a.Sales-Costofgoodssold.

b.Sales-Operatingexpenses.

c.Sales-Allexpenses.

d.Sales-Incometaxexpense.

8Whenpreparingastatementofcashflows,activitiesassociatedwithbuyingandsellingassetsare:

a.operatingactivities.

b.investingactivities.

c.financingactivities.

d.revenueactivities.

9Ifacorporationhasassetsof$250,000,liabilitiesof$70,000,andcapitalstockof$120,000,whatistheamountofretainedearnings?

a.$30,000

b.$0

c.$60,000

d.$140,000

10Theideathatthebusinesswillcontinuetooperatefortheforeseeablefutureisknownasthe:

a.arm'

s-lengthtransactionassumption.

b.entityconcept.

c.goingconcernassumption.

d.monetarymeasurementconcept.

11Theideathatabusinessisconsideredtobeseparatefromitsindividualownersisknownasthe:

12Inorderforthedataofatransactiontobeaccuratelyrepresented,anassumptionmustbemadethatthetransactionwasconductedbetweenbuyerandsellerwithnobiastowardeitherparty.Thisconceptiscalledthe:

chapter3

1Whenownersinvestmoneyintheirbusiness,theeffectontheaccountingequationisthattheinvestment:

a.increasesassetsanddecreasesowners'

equity.

b.increasesassetsandincreasesliabilities.

c.decreasesassetsanddecreasesowners'

d.increasesassetsandincreasesowners'

2Thepurchaseofinventoryoncredit:

a.increasesassetsanddecreasesliabilities.

b.increasesliabilitiesanddecreasesassets.

c.increasesassetsandincreasesliabilities.

d.decreasesassetsanddecreasesliabilities.

3Arevenueaccountisincreasedwith:

a.debits.

b.credits.

4Acompany'

sretainedearningsbalanceisincreasedby:

a.netincome.

c.investmentsbyowners.

d.thedeclarationandpaymentofdividends.

5Whichofthefollowingaccountswouldnormallyhaveadebitbalance?

a.Revenues

b.Expenses

c.Liabilities

d.Owner'

sEquity

6Whentransactionsarepostedfromthebookoforiginalentry,theyarepostedtothe:

a.generaljournal.

b.generalledger.

c.worksheets.

d.trialbalance.

7BossoCompanyrepaidanotepayableof$20,000andtheinterestdueof$400.Thejournalentrytorecordthistransactionwouldincludea:

a.debittocash.

b.credittonotespayable.

c.debittointerestexpense.

d.credittointerestrevenue.

8Thejournalentrytorecordthepaymentofwagesintheamountof$52,000toworkerscouldincludea:

a.debittowagesexpense.

b.credittoaccountspayable.

c.debittocash.

d.credittowagesexpense.

9Theentrytorecordthecollectionofcashfromcustomerswouldincludea:

a.debittoaccountsreceivable.

b.debittosalesrevenue.

c.credittocash.

d.debittocash.

10Whenacompanyearnsrevenuefrom