初級財務(wù)會計（英）-西南財經(jīng)大學(xué)中國大學(xué)mooc課后章節(jié)答案期末考試題庫2023年

初級財務(wù)會計（英）_西南財經(jīng)大學(xué)中國大學(xué)mooc課后章節(jié)答案期末考試題庫2023年Ashort-termnotepayableisawrittenpromisetopayaspecifiedamountonastatedfuturedatewithinthreeyearsortheoperatingcycle,whicheverislonger.

參考答案:

錯誤

Theabilitytogeneratefuturerevenuesandmeetlong-termobligationsisreferredtoas:

參考答案:

Solvency.

Theaccountingprinciplethatrequiresaccountingnumberstobebasedonactualcostsisthe:

參考答案:

Measurement(Cost)principle.

Theassumptionthatstatesanybusinessneedstobeaccountedforseparatelyfromotherbusinessentities,includingitsownerorownersis:

參考答案:

Businessentityassumption.

Ifacompanyisconsideringthepurchaseofanequipmentthatwasacquiredbythesellerfor$15,000,isofferedforsaleat$50,000,isconsideredbythepurchaseraseasilybeingworth$25,000,andispurchasedfor$23,000,thelandshouldberecordedinthepurchaser'sbooksat:

參考答案:

$23,000.

Liquidityreferstotheavailabilityofresourcestomeetshort-termcashrequirements.

參考答案:

正確

Thecurrentratioiscalculatedastotalassetsdividedbycurrentassets.

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錯誤

Totalassetturnoverreflectsacompany'sabilitytouseitsassetstogeneratesalesandisanimportantindicationofoperatingefficiency.

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正確

Purchasediscountshouldberecordedasthecreditofcostofsalesaccount.

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錯誤

Thecreditterm1/10,n/60suggeststhatthebuyeronlyneedstopay99%oftheinvoicepriceifthebuyerpayswithin10daysoftheinvoicedate.

參考答案:

正確

Theperpetualinventorysystemupdatestheinventoryaccountforeachmerchandisepurchaseorsale.

參考答案:

正確

Amerchandisingcompany'soperatingcyclestartswithsellingmerchandiseandendswiththecollectingcashfromthesale.

參考答案:

錯誤

ThefollowinginformationisavailablefortheDanhuangPetService.Aftertheclosingprocess,whatwillbethebalanceintheLancyAwn,Capitalaccount?Totalrevenues........................$200,000Totalexpenses........................80,000LancyAwn,Capital..................100,000LancyAwn,Withdrawals.........10,000

參考答案:

210,000

Whichofthefollowingisthepurposeofusingincomesummaryaccount:

參考答案:

Toclosetherevenueandexpenseaccounts.

Whichofthefollowingindicatesthatanerrormustoccurredinthepreparationand/orpostingofclosingentries?

參考答案:

Theowner’scapitalaccountisdebitedfortheamountofnetprofitfortheperiod.

Accountingaimstoproducerelevant,reliable,andcomparableinformationaboutanorganization'sbusinessactivities.

參考答案:

正確

Externalusersofaccountinginformationusuallyhavemoreinformationabouttheorganizationthaninternalusers.

參考答案:

錯誤

SophiaSun,theownerofaproprietarycompanySophiaLaundryService,withdrew$12,000fromthebusinessduringthecurrentyear.Theclosingentryforthewithdrawalsaccountattheendoftheyearis:

參考答案:

DebitSophiaSun,Capital$12,000;creditSophiaSun,Withdrawals$12,000.

Thereportingofinvestingactivitiesinthestatementofcashflowsisidenticalunderthedirectmethodandindirectmethod.

參考答案:

正確

Thebusinessentityassumptionmeansthatabusinessisaccountedforseparatelyfromotherbusinessentities.

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正確

Revenuesshouldberecognizedwhencashisreceived.

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錯誤

Theexpenserecognitionprinciplemeansthatacompanyrecognizetheexpenseintheperiodinwhichtherelatedrevenuesaregenerated.

參考答案:

正確

Externalusersofaccountinginformationincludeallofthefollowingexcept:

參考答案:

Marketingmanagers.

Thegroupthatsetspreferredaccountingpracticesintheglobaleconomyiscalledthe:

參考答案:

IASB.

Acompanypurchasedamachinefor$120,000bypaying$60,000andsigninga$60,000notepayable.Thecompanyshouldreporttheentire$120,000cashoutflowinthefinancingsectionofthestatementofcashflows.

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錯誤

Cashpaidformerchandiseisanoperatingactivity.

參考答案:

正確

Thepurchaseandsaleoflong-termassetsisafinancingactivity.

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錯誤

Onthestatementofcashflows,cashreceiptsandpaymentsareclassifiedasoperating,investing,orfinancingactivities.

參考答案:

正確

Thesectioninthestatementofcashflowsforreportingtheissuanceofcommonstockforabuildingis:

參考答案:

Thisisnotreportedonthestatementofcashflows.

Intheaccountingcycle,thefirstfivestepsinclude1)analyzingtransactions,2)journalizing,3)posting,4)adjusting,and5)preparingfinancialstatements.

參考答案:

錯誤

Ownerwithdrawalsbytheownerareexpenses.

參考答案:

錯誤

Thepurchaseoflandandmachineswillgenerallyberecordedinthesameledgeraccount.

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錯誤

Revenuesincreaseequity.

參考答案:

正確

Ownerinvestmentsdecreaseequity.

參考答案:

錯誤

Adebitentryalwaysdecreasesanaccount.

參考答案:

錯誤

Theaccountingprocessbeginswith:

參考答案:

Analyzingbusinesstransactionsandsourcedocuments.

Theasset,liabilityandrevenueaccountswillcarrytheirbalancesintothenextaccountingperiodandshouldnotbeclosed.

參考答案:

錯誤

Thefundamentalinternalcontrolprinciplesdoesnotinclude:

參考答案:

Maintainminimalrecords.

Whichofthefollowingisusedtorecordtheowner'sinvestmentsinabusiness?

參考答案:

Capitalaccount.

Alltemporaryaccountsareclosedattheendofeachaccountingperiod.

參考答案:

正確

WhichofthefollowingisNOTanassetaccount:

參考答案:

ServicesRevenue

WhichofthefollowingisNOTaliabilityaccount:

參考答案:

UtilityExpenses

Whichofthefollowingiscorrectaboutacredit?

參考答案:

Istheright-handsideofaT-account.

Acompanyhas$90,000inoutstandingaccountsreceivableanditusestheallowancemethodtoaccountforuncollectibleaccounts.Experiencesuggeststhat4%ofoutstandingreceivablesareuncollectible.Thecurrentbalance(beforeadjustments)intheallowancefordoubtfulaccountsisan$800debit.ThejournalentrytorecordtheadjustmenttotheallowanceaccountincludesadebittoBadDebtsExpensefor:

參考答案:

$4,400

Allofthefollowingareprinciplesofeffectivecashmanagementexcept:

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Leaveexcesscashavailableforunexpectedexpenditures.

Allofthefollowingstatementsaboutinternalcontrolsaretrueexcept:

參考答案:

Internalcontrolsarenotaffectedbythecost-benefitprinciple.

CompanyAmakesa$60,000,60-day,12%cashloantocompanyB.Thenoteandinteresttobecollectedatmaturityis:(Use360daysayear.)

參考答案:

$61,200.

AllowanceforDoubtfulAccountsisacontraasset;itsbalanceisaddedtoAccountsreceivable.

參考答案:

錯誤

Whenthebankreconciliationisprepared,thecompanyshouldmakeadjustingentriesforthereconcilingitemsonbothsidesofthereconciliation.

參考答案:

錯誤

Theadvantageoftheallowancemethodofaccountingforbaddebtsisthatitidentifiesthespecificcustomerswhowillnotpaytheirbills.

參考答案:

錯誤

Accordingtoseparationofdutiesprinciple,afirmshoulddivideresponsibilityforatransactionoraseriesofrelatedtransactionsbetweentwoormoreindividualsordepartments.

參考答案:

正確

Accountsreceivablesandprepaidexpensesareexamplesofcurrentassets.

參考答案:

正確

Cashdisbursementsshouldalwaysbemadebycheck,withnoexceptions.

參考答案:

錯誤

Theusualprocesstoclosetherevenueaccountistocreditrevenueaccountanddebitincomesummaryaccount.

參考答案:

錯誤

Sellersgenerallyprefertoreceivenotesreceivableratherthanaccountsreceivablewhenthecreditperiodislongandthereceivableisforalargeamount.

參考答案:

正確

CreditsalesarerecordedbycreditingAccountsReceivable.

參考答案:

錯誤

Apromissorynoteisawrittenpromisetopayaspecifiedamountofmoneyonorbeforeastatedfuturedate.

參考答案:

正確

Internalcontrolsincludepoliciesandproceduresmanagersusetoprotectassets,ensurereliableaccounting,promoteefficientoperations,andurgeadherencetocompanypolicies.

參考答案:

正確

ABCcorporationhadthefollowingtransactionsaboutinventoryduringthecurrentyear:Beginninginventory:11unitsat$80January:purchased20unitsat$100May:sold15unitsat$200August:purchased16unitsat$150November:sold20unitsat$300OnDecember31,the12unitsremainingintheendinginventoryconsistedof3fromJanuarypurchaseand9fromAugustpurchase.Usingthespecificidentificationmethod,whatisthecostoftheendinginventory?

參考答案:

$1,650

Allofthefollowingstatementsaretrueaboutgrossprofitexcept:

參考答案:

Grossprofitisnotcalculatedontheincomestatementofmerchandisingcompanies.

IFRSallowsallofthefollowingmethodstoassigncoststoinventoryandcostofgoodssoldexcept:

參考答案:

LIFOmethod.

Adjustingentriesleadtoabettermatchingofrevenuesandexpensesfortheperiod.

參考答案:

正確

Theaccountingprinciplethatrequiresrevenuetoberecordedwhenearnedisthe:

參考答案:

Revenuerecognitionprinciple.

Adjustingentries:

參考答案:

Affectbothincomestatementandstatementoffinancialpositionaccounts.

Iftheendingbalanceofinventoryaccountisreportedinerror,itcancauseamisstatementinallofthefollowingaccountsexcept:

參考答案:

Netsales.

Thesystemofpreparingfinancialstatementsbasedonrecognizingrevenueswhenthecashisreceivedandrecognizingexpenseswhenthecashispaidiscalled:

參考答案:

Cashbasisaccounting.

PuddingToyCo.purchasesmerchandisewithacatalogpriceof$100,000.Theselleroffersa25%tradediscount.Theselleralsoofferscredittermsof1/10,n/30.Assumingnoreturnsweremadeandthatpaymentwasmadeduringthediscountperiod,whatisthenetcostofthemerchandiseforPuddingToyCo.?

參考答案:

$74,250.

Adjustingentriescouldbepreparedforeachofthefollowingexcept:

參考答案:

Ownerwithdrawals.

Unearnedrevenueisreportedas:

參考答案:

Aliabilityonthestatementoffinancialposition.

Takingaphysicalcountofinventory:

參考答案:

Arenecessarytoadjusttheinventoryaccount.

Whichofthefollowingstatementsabouttemporaryaccountisnotcorrect:

參考答案:

Revenueandowner’scapitalaccountareexamplesoftemporaryaccounts.

Allofthefollowingshouldbeincludedinthecostofinventoryaccountexcept:

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Damagedinventorythatcannotbesold

Anunderstatementofthebeginningbalanceofinventorywillresultinanunderstatementofcostofsalesandanoverstatementofnetprofit.

參考答案:

正確

Whenpurchasepriceisrising,FIFOwillyieldhighergrossprofitandnetprofitthanweightedaveragecost.

參考答案:

正確

OnJanuary1,ParsonFreightCompanyissues7%,10-yearbondswithaparvalueof$2,000,000.Thebondspayinterestsemiannually.Themarketrateofinterestis8%andthebondsellingpricewas$1,864,097.Thebondissuanceshouldberecordedas:

參考答案:

DebitCash$1,864,097;debitDiscountonBondsPayable$135,903;creditBondsPayable$2,000,000.

MorganCompanyissues9%,20-yearbondswithaparvalueof$750,000thatpayinterestsemiannually.Theamountpaidtothebondholdersforeachsemiannualinterestpaymentis.

參考答案:

$33,750.

Whenabondsellsatapremium:

參考答案:

Thecontractrateisabovethemarketrate.

Thecarryingvalueofbondsatmaturityalwaysequals:

參考答案:

theparvalueofthebond.

Periodicinterestpaymentsonbondsaredeterminedbymultiplyingtheparvalueofthebondbythebond'scontractrate.

參考答案:

正確

Thecontractrateofinterestistheratethatborrowersarewillingtopayandlendersarewillingtoacceptforaparticularbondanditsrisklevel.

參考答案:

錯誤

Thecarryingvalueofabondiscomputedasthefacevalueminusanyunamortizeddiscountorplusanyunamortizedpremium.

參考答案:

正確

Paymentsonaninstallmentnoteincludetheaccruedinterestexpenseplusaportionoftheamountborrowed.

參考答案:

正確

Abond'sparvalueisnotnecessarilythesameasitsmarketvalue.

參考答案:

正確

Acompany’snetsalesandcostofsalesare$80,000and$30,000,respectively.Itsnetprofitis$20,000.Thecompany'sgrossprofitandtotalotherexpensesare________and___________,respectively.

參考答案:

$50,000;$30,000

Whichofthefollowingitemsisreportedonthestatementofcashflowsasafinancingactivity?

參考答案:

Paymenttoredeemdebt.

Thesectioninthestatementofcashflowsforreportingcashreceiptsfromsellinggoodsis:

參考答案:

Operatingactivities.

OnDecember1,SmileCompanysigneda90-day,6%notepayable,withafacevalueof$15,000.WhatamountofinterestexpenseisaccruedatDecember31onthenote?(Use360daysayear.)

參考答案:

$75

Thedifferencebetweentheamountreceivedfromissuinganotepayableandtheamountpaidbackatmaturityis:

參考答案:

Interest.

Contingentliabilitiesmustberecordedif:

參考答案:

Thefutureeventisprobableandtheamountowedcanbereasonablyestimated.

Thewagepayableisanexampleofacontingentliabilityfortheemployer.

參考答案:

錯誤

Apotentiallawsuitisdisclosedinthenoteswhentheclaimcannotbereasonablyestimatedanditisreasonablypossible.

參考答案:

正確

SalesTaxesPayableisdebitedandCashiscreditedwhencompaniessendsalestaxescollectedfromcustomerstothegovernment.

參考答案:

正確

Acompanycannothavealiabilityiftheamountoftheobligationinvolvesuncertainty.

參考答案:

錯誤

Thesectioninthestatementofcashflowsforreportingthecashoutflowduetothepurchaseofamachineis:

參考答案:

Investingactivities.

Thestatementofcashflowsreports:

參考答案:

Cashinflowsandcashoutflows

Cashequivalentsinclude:

參考答案:

Moneymarketfund.

Whichofthefollowingisanimpactoftechnologyoninternalcontrols?

參考答案:

Moreextensivetestingofrecords.

Tocapitalizeanexpenditureisto:

參考答案:

Debitanassetaccount.

Revenueexpendituresareadditionalcostsofplantassetsthatdonotsignificantlyincreasetheassets'lifeorproductivecapabilities.

參考答案:

正確

Doubledecliningbalancemethodyieldslargerdepreciationexpenseintheearlyyearsofanasset'slifeandlessdepreciationexpenseinlateryears.

參考答案:

正確

Depreciationishigherinearlieryearsandincomeislowerinthelateryearswhenusingstraight-lineversusacceleratedmethods.

參考答案:

錯誤

Goodsintransitshouldbeincludedinthebuyer’sinventorywhengoodsareshippedFOBdestination.

參考答案:

錯誤

Aplantasset'susefullifeisthelengthoftimeitisproductivelyusedinacompany'soperations.

參考答案:

正確

Goodsonconsignmentaregoodsownedbytheconsigneesotheyshouldbecountedastheconsignee’sinventory.

參考答案:

錯誤

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