patterns专业 英语

2021年1月21日发(作者：啊啊啊的)
Chapter 1
True and false
1, Financial accounting
information
is designed primarily to assist
investors and creditors
in
deciding how to allocate scarce resources.

2, Return on investment is the same as return of investment.

3, The IRS tax return is one of the primary financial statements.

4,
Management
accounting
refers
to
the
preparation
and
use
of
accounting
information
designed to meet the needs of decision makers inside the business organization.

5, The content of
management accounting reports need not be presented in conformity with
generally accepted accounting principles.

6,
The tailoring of an accounting report to meet the needs of a specific decision maker is more
characteristic of financial accounting reports than of management accounting reports.
7,
The
annual
financial
statements
of
large
corporations
such
as
Microsoft
or
Pepsico
are
audited
by
independent certified public accountants, even though these firms maintain
large
accounting departments as part of their organizations.
8,
Generally
accepted
accounting
principles
were
established
by
Congress
in
1933
and
are
updated annually by the American Accounting Association.

9, One purpose of generally accepted accounting principles is to make accounting information
prepared by different companies more comparable.
10,
Today
the
most
authoritative
source
of
generally
accepted
accounting
principles
is
the
Internal Revenue Service.

Answer :

T, F, F, T, T, F, T, F, T, F

Chapter 2
True and false
1,
A
business entity
is regarded as separate from the
personal activities of its owners whether
it is a sole proprietorship, a partnership, or a corporation.

2, Assets must always have physical characteristics such as buildings, machinery or inventory.

3, The going concern principle assumes that the business will not continue indefinitely.
4,
Notes
Payable
and
accounts
payable
are
written
promises
to
pay
an
amount
owed
by
a
certain date.

Notes payable generally have interest but accounts payable do not.

5, A net loss results from having more liabilities than revenues.
6, The sale of additional shares of capital stock will cause net income to increase.
7, Articulation between the financial statements mean that they relate closely to each other.
8,
Limited
liability
means
that
owners
of
a
business
are
only
liable
for
the
debts
of
the
business up to the amounts they can afford.
9,
In
a
business
organized
as
a
corporation,
it
is
necessary
to
list
the
equity
of
each
stockholder on the Statement of Cash Flows.
10, Total assets always equal total liabilities plus total owners' equity.
Answer: T, F,

F, F,

F, F, T, F, F, T
Chapter 3
True and false
debit side of an account is the right side while the credit side is the wrong side.



a computerized accounting system journalizing may be done automatically but posting
must be done by someone with an understanding of recording transactions.


running
balance
form
or
the
T
account
form
is
typically
used
in
the
trial
balance
to
display the accounts and their amounts.

nds
are
an expense
of
a corporation
and
reduce
both
total
assets
and
stockholders'
equity.

nds reduce owners' equity and therefore should be deducted from net income.

business transaction
is recorded by a debit to a balance sheet account and a credit to
an income statement account.

g
revenue
increases
owners'
equity;
therefore
revenues
are
recorded
with
credit
entries.

Expenses reduce owners' equity and are recorded with debit entries.

is not
unusual for a company to distribute a trial balance to its stockholders in
lieu
of a
balance sheet.

ts are usually arranged in the ledger in financial statement order, that is, assets first,
followed by liabilities, owners' equity, revenue, and expenses.

10.A debit to a ledger account refers to the entry of an amount on the right side of an account.

Answer: F

F

F


F

F


F

T


F

T

F


Chapter 4
1.

Adjusting
entries
are
needed
whenever
transactions
affect
the
revenue
or
expenses
of
more than one accounting period.

Answer: True



market value of a depreciable asset can be determined by its book value at a particular
time.


adjusting
entry
to
record
estimated
income
taxes
in
a
profitable
period
consists
of
a
debit to income tax expense and a credit to income tax payable.

failure to record an adjusting entry for depreciation would cause assets to be overstated
and net income to be understated.


need
for
adjusting
entries
results
from
timing
differences
between
the
receipt
or
disbursement of cash and the dates on the financial statements.

adjusted trial balance may be used in place of the balance sheet.

book value of an asset may also be called the carrying value of the asset.

period of time over which the cost of an asset is allocated to depreciation
expense is
called its useful life.

unadjusted trial balance combines the trial balance items with the adjusting entries to
determine the adjusted balances.


a company
receives cash
in
advance
and
it
is
obligated
to
provide
a
service
or
a
product
in the future, the entry would be a debit to a liability account and a
credit to revenue.
Answer:1. T; 2. F;

3. T

;

4. F

5. F

6. F

7. T;

8. T

;

9. F;

10 F
Chapter 5
report form of the balance sheet lists liabilities under assets on the left and owners' equity
on the right.

2.A
current asset may be cash or must be capable of being converted into cash with a relatively
short period of time, usually less than five years.

accounts can only be closed at the end of the year with a single compound entry.
purpose of the after- closing trial balance is to give assurance that the accounts are in balance
and ready for the new accounting period.

g capital equals current assets divided by current liabilities.

year end all accounts must be closed.

income summary account appears, as stated, on the statement of retained earnings.

m financial statements usually report on a period of time less than one year.

g entries do not affect the cash account.

after-closing trial balance consists only of asset, liability, and owners' equity accounts.

ial statements are usually prepared before the closing entries.

ly owned companies are owned and managed by the government.
ANSWER: F, F
, F
, T, F, F, F
, T, T, T, T, F
Chapter 6

accounting cycle of a merchandising company consists of (1) purchases of merchandise; (2)
sales of the merchandise; and (3) collection of accounts receivable.

ory shrinkage refers to unrecorded decreases in inventory resulting from breakage, theft
and sales of inventory.

a periodic inventory system when merchandise is purchased it is debited to an account called
purchases.

se
Discounts
Lost
is
shown
as
a
reduction
of
Cost
of
Goods
Sold
in
the
Income
Statement.

contra-revenue
accounts,
Sales
Returns
and
Allowances
and
Sales
Discounts,
should
be
closed by debiting these accounts and crediting Income Summary.

operating cycle of a merchandising business is the length of tim
e covered by the company's
income statement.

ory is purchased for resale.

preparing monthly bills to be sent to individual credit customers, the billing department will
use the accounts receivable subsidiary ledger, rather than the general ledger.

9.A
perpetual inventory system requires the capability of recording the cost of goods sold relating
to individual sales transactions.

alers sell to the general public.

ANSWER: F, F
, T, F
, F, T, T, T,

T,

F
Chapter 7
g
marketable
securities
on
the
balance
sheet
at
current
market
values
violates
the
consistency principle.

2.A
line of credit creates a liability for the borrower when it is granted by the bank.

first step
in
a
bank
reconciliation
is
to
update
the
depositor's
accounting
records
for
any