收入确认概念答与现金会计方法不冲突homework3作业.pdfVIP

1.Therevenuerecognitionconcept

a.isinnotinconflictwiththecashmethodofaccounting

b.determineswhenrevenueiscreditedtoarevenueaccount

c.statesthatrevenueisnotrecordeduntilthecashisreceived

d.controlsallrevenuereportingforthecashbasisofaccounting

2.Thematchingconcept

a.addressestherelationshipbetweenthejournalandthebalancesheet

b.determineswhetherthenormalbalanceofanaccountisadebitorcredit

c.requiresthatthedollaramountofdebitsequalthedollaramountofcreditsona

trialbalance

d.determinesthatexpensesrelatedtorevenuebereportedatthesametimethe

revenueisreported

3.Usingaccrualaccounting,revenueisrecordedandreportedonly

a.whencashisreceivedwithoutregardtowhentheservicesarerendered

b.whentheservicesarerenderedwithoutregardtowhencashisreceived

c.whencashisreceivedatthetimeservicesarerendered

d.ifcashisreceivedaftertheservicesarerendered

4.Oneoftheaccountingconceptsuponwhichdeferralsandaccrualsarebasedis

a.matching

b.cost

c.price-leveladjustment

d.conservatism

5.Thebalanceintheprepaidrentaccountbeforeadjustmentatoftheyearis

$15,000,whichrepresentsthreemonthsrentpaidonDecember1.Theadjusting

entryrequiredonDecember31is

a.debitRentExpense,$5,000;creditPrepaidRent,$5,000

b.debitPrepaidRent,$10,000;creditRentExpense,$5,000

c.debitRentExpense,$10,000;creditPrepaidRent,$5,000

d.debitPrepaidRent,$5,000;creditRentExpense,$5,000

6.ThebalanceintheofficesaccountonJune1was$5,200,s

purchasedduringJunewere$2,500,andthe