会计英语选择题.pdf

1.Accountingisaninformationandmeasurementsystemthatdoesallof

thefollowingexcept:

A.Identifiesbusinessactivities.

B.Recordsbusinessactivities.

C.Communicatesbusinessactivities.

D.Doesnotusetechnologytoimproveaccuracyinreporting.

E.Helpspeoplemakebetterdecisions.

2.Externalusersofaccountinginformationincludeallofthefollowing

except:

A.Shareholders.

B.Customers.

C.Purchasingmanagers.

D.Governmentregulators.

E.Creditors.

3.Therulethatrequiresfinancialstatementstoreflecttheassumption

thatthebusinesswillcontinueoperatinginsteadofbeingclosedorsold,

unlessevidenceshowsthatitwillnotcontinue,isthe:

A.Going-concernassumption.

B.Businessentityassumption.

C.Objectivityprinciple.

D.CostPrinciple.

E.Monetaryunitassumption.

4.Ifaparceloflandthatwasoriginallypurchasedfor$85,000isoffered

forsaleat$150,000,isassessedfortaxpurposesat$95,000,is

recognizedbyitspurchasersaseasilybeingworth$140,000,andissold

for$137,000.Whatistheeffectofthesaleontheaccountingequation

fortheseller?

A.Assetsincrease$52,000;ownersequityincreases$52,000.

B.Assetsincrease$85,000;ownersequityincreases$85,000.

C.Assetsincrease$137,000;ownersequityincreases$137,000.

D.Assetsincrease$140,000;ownersequityincreases$140,000.

E.Assetsdecrease$85,000;ownersequitydecreases$85,000.

5.OnJune30ofthecurrentyear,theassetsandliabilitiesofPhoenix,Inc.

areasfollows:Cash$20,500;AccountsReceivable,$7,250;Supplies,

$650;Equipment,$12,000;AccountsPayable,$9,300.Whatisthe

amountofownersequityasofJune30ofthecurrentyear?

A.$8,300

B.$13,050

C.$20,500

D.$31,100

E.$40,400

6.ManagementServices,Inc.providesservicestoclients.OnMay1,a

clientprepaidManagementServices$60,000for6-monthsservicesin

advance.