金融英语_刘文国第二版课后练习Exercises08.pdfVIP

金融英语_刘文国第二版课后练习Exercises08

AnswersforChaptereight

ⅠAnswerthefollowingquestionsinEnglish:

1.Inwhatsectionofthebalancesheetwouldonefindpatents

and

trademarks?

Patentsandtrademarkscanbefoundinsectionintangible

section.

2.Whichdepreciationmethodbasesdepreciationexpense

foragiven

periodonactualuse?

TheStraight-linedepreciationmethodbasesdepreciation

expensefor

agivenperiodonactualuse.

3.Whichfinancialstatementispreparedasofaparticular

daterather

thanforaperiodendingonaparticulardate?

Thebalancesheetispreparedasaparticulardate.

4.Whohastheprimaryresponsibilityforthefinancial

statements?

Managerhastheprimaryresponsibilityforthefinancial

statements.5.Atwhatvalueislandusedinabusinessshownon

thebalancesheet?

Landisshownonthebalancesheetathistoricalvalue.

6.WhichofthefollowingresultsfromusingtheLIFOmethod

of

inventorycostflowsduringaperiodofinflation?

TheresultishighercostsofgoodssoldbyusingtheLIFO

methodofinventoryduringaperiodofinflation.

7.Whatreflectsthenettaxeffectsofthetemporary

differences

betweenthecarryingvaluesofassetsandliabilitiesfor

financialreportingpurposesandamountsusedforincometax

purposes?

Thedeferredincometaxesresultfromtemporarydifferences

in

taxableandfinancialstatementincome.

8.Whatisthecostofafixedassetlessitsaccumulated

depreciation?

Itisthenetvalueofthefixedassets.

9.Howareheld-to-maturitysecuritiesreportedonthe

balancesheet?

Itisreportedascurrentassetsonthebalancesheet.