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一、单选题(共 20 道试题,共 40 分。)V 1. The inventory method that assigns the most recent costs to cost of good sold is
3 e0 w6 f: {1 a" L1 B3 HA. FIFO2 O: d+ W# a3 w7 I
B. LIFO" W, j$ d5 s+ A5 U. t5 A
C. average
+ | Q/ t! m$ U; hD. specific identification
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2. Cash investments made by the owner to the business are reported on the statement of cash flows in the/ O0 w+ T# r j" K5 ^$ c4 T
A. financing activities section" T3 {5 u# a6 u- z/ B2 Q4 \
B. investing activities section' M7 Q% d" x( g- m
C. operating activities section
1 Y7 X+ Z% `$ A3 u, CD. supplemental statement8 {1 v) s4 t$ k& E: Y
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3. The primary purpose of a stock split is to ( )5 t: U* a' L! Z% y+ u: f
A. increase paid-in capital
- Z" O3 d! H6 X; z/ P2 u2 yB. reduce the market price of the stock per share0 _4 {4 U- I- a- D; V4 r
C. increase the market price of the stock per share1 c8 f) e0 L% @' Q$ _% l
D. increase retained earnings! q6 f1 t' F0 l+ u
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' |0 V5 {" w. Z7 h% H3 L4. Which of the following financial statements reports information as of a specific date?; G% `0 ]9 V! i- i7 F* ]
A. income statement) G& ]& |* v5 R+ x. Y
B. statement of owner's equity
( N( Z8 f2 j- e) BC. statement of cash flows9 |% }" l) Z% i# o. g: P
D. balance sheet
4 y- N D% G9 i/ F/ _ 满分:2 分, h$ P' d/ K+ K* y
5. Accumulated Depreciation ( ), S# e( i0 I( O. m* S
A. is used to show the amount of cost expiration of intangibles) D+ v3 q& O$ g9 |
B. is the same as Depreciation Expense) e9 k' M4 d6 k* f8 W/ a3 u
C. is a contra asset account
4 f3 T0 }) U1 K* A4 ?D. is used to show the amount of cost expiration of natural resources
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% P% p; k# w6 U0 |6 l6. Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?
8 n+ s$ I6 x8 d0 ?* w* oA. net income is understated
7 }% d, m! x c, D5 x5 I, q' O5 rB. net income is overstated3 d2 L9 H: _/ K2 q- g
C. cost of merchandise sold is understated
/ n2 L4 j3 v& P( W f: J. E0 GD. merchandise inventory reported on the balance sheet is overstated- K( f3 j: J T0 W: r; O$ N
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8 x4 C& K) _4 h7 c- a7. On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the ( )
3 Y) k( P" i. L3 U( \) xA. Uncollectible accounts expense for the year7 `7 d$ |) u; P0 t: V
B. total of the accounts receivables written-off during the year
9 K$ `( Z4 Q8 ~6 cC. total estimated uncollectible accounts as of the end of the year
, s: `5 N* g7 b8 t& i* GD. sum of all accounts that are past due.
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8. For accounting purposes, the business entity should be considered separate from its owners if the entity is( )2 M# g7 S+ ?! D6 U
A. a corporation& l$ p- P$ F8 r7 ^
B. a proprietorship
% M0 O% F/ N: z( Z* IC. a partnership
6 [. M* c" a# ]- r( U9 U: C$ ~D. all of the above
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9. Financial statements in which financial data for two or more companies are combined as a single entity are called
6 l0 |5 o4 w0 r6 |( x; O% g0 k8 p" `A. conventional statements3 j3 e2 N! Q {0 _* S3 E* u( }
B. consolidated statements
3 p( T; @* R; c5 JC. audited statements
! M8 C2 Q! M2 q- ]D. constitutional statements
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10. When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are7 a! O* f) w! ]3 }: N0 g
A. convertible bonds9 N0 R4 X4 y8 @3 y
B. unsecured bonds/ i* U3 U) L: _4 j+ }+ E
C. debenture bonds
+ M: }4 ?& Y0 s+ \5 Z/ J# f8 }D. callable bonds
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; F, }! O( h$ r$ P( P11. The accounting equation may be expressed as( ): J3 r4 \ p0 u( z; w# q
A. Assets = Equities - Liabilities2 v3 S7 S; W% o$ q2 F# b* d0 E; V
B. Assets + Liabilities = Owner's Equity
* l! W3 c$ D6 r7 FC. Assets = Revenues less Liabilities+ ~' o* d1 C+ E
D. Assets - Liabilities = Owner's Equity+ ^* b8 o/ q0 |* m7 N; w7 Q* Z! j8 r
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12. The interest rate specified in the bond indenture is called the ( )
/ ]- `7 i& J) l4 J0 i# A2 ^1 zA. discount rate6 K7 x1 M5 ?! H6 K
B. contract rate
* [5 q7 i2 D7 o# g0 |" BC. market rate7 |8 E* X# v2 B% [! U
D. effective rate
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13. The liability for a dividend is recorded on which of the following dates?
1 b( F& G$ t" ~A. the date of record
/ `2 P8 q! G. j9 q! wB. the date of payment5 _( y. a0 F' Z5 b' ~. k, C
C. the date of announcement
% I( x! \- b+ D" O& W) JD. the date of declaration2 H/ x% K" a6 c7 I% k6 G
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14. Which of the following groups of accounts have a normal debit balance?( w' T! o8 l9 M
A. revenues, liabilities, capital
) }) }4 E; y5 c4 E2 t+ w! `B. capital, assets/ {$ q4 N6 w5 T `' P, }+ ]
C. liabilities, expenses) f( }2 U5 P/ l1 T) r
D. assets, expenses
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15. The amount of the outstanding checks is included on the bank reconciliation as a(n) ( )
; ~; Z, r0 [0 gA. deduction from the balance per depositor's records
0 h: I9 ~9 I$ P( M4 N' {B. addition to the balance per bank statement
7 x7 v: L5 Q+ vC. deduction from the balance per bank statement
6 Z0 W1 O* z3 E R( ]8 q* SD. addition to the balance per depositor's records! a8 d6 c/ Q" [) Y+ ?
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16. Debts owed by a business are referred to as( )! l3 P' `/ H3 p# q
A. accounts receivables
1 Z5 V. O0 g& t3 c. ]B. equities0 c0 a% ~" Q% ^1 i$ ~% a: Q
C. owner’s equity& G- b! l0 P4 D5 f* G
D. liabilities, d" K+ L* D; O8 K: S# n: I* h
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17. Financial reports are used by( )2 f$ g1 u: ~! |! c4 R
A. management
# Q; w( L( z+ g7 i8 K) hB. creditors
" f! V/ N+ j! A# ?) `2 X! PC. investors
% S- H6 M: F1 r8 B- x* JD. all of the above
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; h" Q, H% J4 r/ R18. Sinking Fund Cash would be classified on the balance sheet as ( )7 Z8 [7 [. f- @( s. x# ~8 V7 i
A. a current asset
. f1 C6 [- L4 E) Q4 @9 y( UB. a fixed asset6 B$ W$ t3 ]9 L) D6 D
C. an intangible asset
9 X& u# w; l7 ^ XD. an investment0 v2 b# E3 c0 M3 m }# I
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19. In the accounting cycle, the last step is( )
& f8 h4 a' R* ]A. preparing the financial statements* f; ?# A0 {3 A1 V
B. journalizing and posting the adjusting entries
; X; g: T% o7 S, j* ?& gC. preparing a post-closing trial balance
0 V; ]& S( O: n8 b; s) J! iD. journalizing and posting the closing entries
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20. Characteristics of a corporation include ( )! b* }! c/ {0 y: V
A. shareholders who are mutual agents: X, J" L' g3 p6 V( P5 o
B. direct management by the shareholders (owners)
+ {1 ^2 {2 _1 A4 Q' L/ WC. its inability to own property
, ^9 _" W. W. OD. shareholders who have limited liability
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/ m8 G8 ^! T' g3 d3 h二、判断题(共 30 道试题,共 60 分。)V 1. If the liabilities owed by a business total $500,000, then the assets also total $500,000. L% C- I* r7 @) q8 ^
A. 错误
q" B& K5 k) W- C8 @B. 正确
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2. A fixed asset impairments occurs when the fair value of a fixed asset falls below its book value and is not expected to recover." _0 S$ N; A( {% ?9 J p& }
A. 错误+ N: r: b" y: j+ f2 y) v! q$ {
B. 正确) M: ^, r2 O" s0 d3 w" } P
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3. Allowance for Doubtful Accounts is a liability account.
7 I- l. F- g# R% m/ aA. 错误
6 Z3 R5 r7 o) t& ~B. 正确. z' ?, b$ y3 x8 N& L
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/ R% p! o+ f, ^7 j/ q4. During deflationary periods, the use of the LIFO method of costing inventory will result in a lower amount of current assets than would result from the use of the FIFO method.9 R; l. Q$ U+ b( e% G# ^
A. 错误) f) B j8 J* E' @
B. 正确
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5. Bondholders claims on the assets of the corporation rank ahead of stockholders.& r8 ` b( p, }2 T- V3 x
A. 错误! \- e% j8 B0 X2 O! r2 \+ d2 R v
B. 正确
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6. If ending inventory for the year is understated, net income for the year is overstated.
1 m' o; B$ H1 g cA. 错误
, |% A2 _) k& B1 H P- JB. 正确
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4 {: s) `4 Y8 c- c7. The declaration of a stock dividend decreases a corporation's stockholders' equity and increases its liabilities.8 }3 R. N" V: u) O, @
A. 错误
% ]/ }( r$ I G" z' ] mB. 正确
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}& T) G+ L0 R6 l- E8. An income statement is a summary of the revenues and expenses of a business as of a specific date.
* J) H3 c8 Z% k3 p }A. 错误
$ N3 T% O/ ]: N2 ^B. 正确
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9. If a firm has a quick ratio of 1, the subsequent payment of an account payable will cause the ratio to increase.- z6 [, u6 W6 ]0 u- N$ @1 J
A. 错误3 x ^# ?% P" I: l7 s# k6 } Q: G! H
B. 正确
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10. The increase side of all accounts is the normal balance.# h, J, q/ }9 _$ |
A. 错误$ r( \) ]( q. c6 h
B. 正确
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# S2 I) r6 j* |3 j! X) a11. In preparing bank reconciliation, the amount of deposits in transit is deducted from the balance per bank statement.% D# H7 B" Q+ d
A. 错误6 m: F3 X( M) m% c7 A
B. 正确
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" C0 X5 Z# f1 V" Z% s12. The accounting equation can be expressed as Assets - Liabilities = Owner's Equity.
. i3 r2 A9 F! b# H( L. `A. 错误7 M9 w' K' ^4 ~
B. 正确
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13. The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense.
" g4 f O9 K: p& o( i& M% j. \' WA. 错误) v9 @# k1 g) E% T; `
B. 正确
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14. If bonds are sold for a discount, the carrying value of the bonds is equal to the face value less the unamortized discount.) Y3 D8 N$ C5 ?8 ?% v7 r* |
A. 错误/ b" p8 p/ D7 |* H$ x
B. 正确
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) ~9 P8 B/ x: B) q1 {* }" u15. The normal balance of the accumulated depreciation account is debit.
8 a. E2 A& w, `! p5 l! |' qA. 错误9 I, \" `3 D" p9 I1 |/ ~
B. 正确8 s6 w+ L' G8 W% O& ~9 k5 b
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16. All property, plant, and equipment assets are depreciated over time.$ [, u4 F& s+ h/ W# ?( g% j
A. 错误' Z2 R2 y" F3 n1 ^5 `( ` z
B. 正确4 G9 O* `3 z$ U; s6 Z
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17. Paying an account payable increases liabilities and decreases assets
. g8 }8 L& ?. bA. 错误
7 V4 [& q" G' b9 s. ]# C/ \B. 正确
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18. Sales Discounts is a revenue account with a credit balance.
4 b/ X l4 r) F3 m0 d& V6 uA. 错误
# ?! e' K7 b, i. [B. 正确
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& c$ k5 ?5 z" A$ l) f! M+ `19. In establishing a petty cash fund, a check is written for the amount of the fund and is recorded as a debit to Accounts Payable and a credit to Petty Cash.
; c/ p- F' R* Z$ {6 G7 U3 BA. 错误! j' F1 `- o G/ {. m6 `2 P
B. 正确
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2 F; f$ c( \0 W/ h20. During inflationary periods, the use of the LIFO method of costing inventory will result in a greater amount of net income than would result from the use of the FIFO method.; b+ R m3 Z! |2 j
A. 错误
_. O' q" D' E2 [" H9 J \B. 正确& I" m2 [, g# S( Y/ T
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21. The amortization of a premium on bonds payable decreases bond interest expense.
0 n. A* w: e+ W9 Y0 qA. 错误0 s) L- s; n3 K1 { p% S& q
B. 正确2 m% d- z1 b/ f
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22. Information is material if its omission or misstatement could influence the economic decisions of users.$ ?! Z! u) b F* m/ \6 p" z
A. 错误0 E* j# J9 o/ _ U5 n% E
B. 正确7 z: f% b, ?' v" U6 S
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23. Accounting is a service that provides many different users with financial information to make economic decisions.4 B7 f8 X, M6 F: s& d
A. 错误
1 f2 E7 m4 k @4 X2 J8 u0 U6 ]B. 正确
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+ U3 B7 e. A7 J0 T3 ~: c4 V24. When a large quantity of merchandise is purchased, a reduction allowed on the sale price is called a trade discount.8 a7 x! u6 z' S/ H2 J7 E
A. 错误
7 E, F3 C2 h, j% E* d8 j4 LB. 正确
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25. The statement of cash flows consists of an operating section, an income section, and an equity section.4 z1 ~3 g# Z. p& U4 c+ a
A. 错误( m" N8 i$ ?/ J8 O1 r
B. 正确- ?# A% `. X2 M7 d9 O) B$ f/ g
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! x/ z, D$ j; l9 k6 I$ W26. When the market rate of interest is less than the contract rate for a bond, the bond will sell for a premium. h# X& A+ ]$ E$ c8 N9 O# }
A. 错误( r& _9 s( u$ h3 z% r: D) \! H0 l
B. 正确
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27. If the bondholder has the right to exchange a bond for shares of common stock, the bond is called a convertible bond.3 Z3 q3 ?: m Q+ }) ^) F
A. 错误
/ Z9 o: n5 J' k' cB. 正确0 O3 r7 u9 v B* c+ C* z6 }1 t
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28. The book value of a fixed asset reported on the balance sheet represents its market value on that date.
- T6 @. T" [1 C+ ~4 S* r' jA. 错误4 Z6 R" m5 W5 H& @4 j/ m7 g g
B. 正确
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29. Financial statements should be understandable to everyone.9 d1 ~" {) @' z2 q6 e( i# V) O; f
A. 错误3 o$ I6 V2 f7 b
B. 正确
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z, {4 C( u: Y6 `( X30. Temporary investments are reported on the balance sheet at cost.# s3 q) y6 |" {( a' y
A. 错误
, f. c2 t* Z& n6 L A- eB. 正确% a# n( p. v2 i8 E2 r5 `
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