【正文】 《財務會計》復習題Circle the letter of the best response.1． Which of the following statements is false?A． Accounting is the information system that measures business activities, processes that information into reports, and municates the results to decision makers.B． Financial statements report financial information about a business entity to decision makers.C． Owners of a corporation are personally liable for the debts of the corporation.D． The purpose of financial accounting is to provide information to people outside of the entity, such as investors and creditors.2． Wilbur owns and operates a fishing tackle shop. Wilbur needs to borrow money to expand。 therefore, he prepared financial statements to present to his banker. Wilbur obtained appraisals of all the assets of the business to ensure that the balance sheet would reflect the most current value of the assets. Wilbur has violated which of the following principles or concepts?A． Reliability principleB． Cost principleC． Goingconcern principleD． Stablemonetaryunit concept3． Which of the following is true?A． Owners39。 Equity － Assets ＝ LiabilitiesB． Assets － Owners39。 Equity ＝ LiabilitiesC． Assets ＋ Liabilities ＝ Owners39。 EquityD． Liabilities ＝ Owners39。 Equity ＋ Assets4． G. Harrison Inc experienced a decrease in total assets of $2,000 during the current year. During the same year, total liabilities decreased $6,000. If dividends for the year were $10,000 and the owners made no additional investment, how much was net ine?A． $14,000B． $ 6,000C． $18,000D． $ 2,0005． Which of the following statements is true?A． The ine statement reports all changes in assets, liabilities, and stockholders39。 equity of the business during the period.B． Revenues and expenses are reported only on the balance sheet.C． The statement of cash flows reports cash flows from three types of business activities——cash receipts, cash payments, and investing.D． On the statement of retained earnings, the net ine for the period is added to the beginning balance of retained earnings.6． Which of the following statements is not true?A． Investing activities relate to the investment by owners into the business.B． Paying dividends is an example of a financing activity.C． Operating activities are the most important type of business activity.D． Managers must make decisions about operating, investing, and financing activities.7． On which financial statement can the ending balance in retained earnings be found?A． Balance sheetB． Ine statementC． Statement of retained earningsD． Both A and C8． Which of these is an example of an asset account?A． Service RevenueB． DividendsC． SuppliesD． All of the above are assets9． Dobson Company paid $1,200 on account. The effect of this transaction on Dobson39。s accounting equation is to：A． decrease liabilities and increase stockholders’ equity.B． decrease assets and decrease liabilities.C． have no effect on total assets.D． decrease assets and decrease stockholders39。 equity.10． Which of these statements is false?A． Decreases in liabilities and increases in revenues are recorded with a credit.B． Decreases in assets and increases in stockholders39。 equity are recorded with a credit.C． Increases in both assets and expenses are recorded with a debit.D． Increases in assets and decreases in liabilities are recorded with a debit.11． Note Payable has a normal beginning balance of $40,200. During the period, new borrowings total $100,000 and payments on loans total $20,600. Determine the correct ending balance in Note Payable.A． $39,200, debitB． $119,600, creditC． $39,200, creditD． $160,800, credit12． Which of these statements is correct?A． The account is a basic summary device used in accounting.B． A business transaction is recorded first in the journal and then posted to the ledger.C． In the journal entry, all accounts that are increased are listed first and then all accounts that are decreased are listed next.D． Both A and B are correct.13． Which of these accounts has a normal debit balance?A． Salary ExpenseB． Accounts PayableC． Service RevenueD． Both A and B14． The May 31 trial balance reports a credit balance of $5,000 for Service Revenue. During the month, one entry for $10 had been posted in error as a debit to Service Revenue. What is the correct balance of Service Revenue at May 31 ?A． $4,980B． $4,990C． $5,020D． $5,01015． The beginning Cash account balance is $38,700. During the period, cash disbursements totaled $144,600. If ending Cash is $51,200, then cash receipts must have been：A． $105,900B． $234,500C． $132,100D． $157,10016． Use the following selected information for the Perriman Company to calculate the correct credit column total for a trial balance：Accounts receivable $ 27,200Accounts payable 15,900Building 359,600Cash 55,600Common stock 155,000Dividends 4,800Insurance expense 1,800Retained earnings 133,800Salary expense 52,500Salary payable 3,600Service revenue 193,200A． $365,600B． $304,700C． $501,500D． $506,30017． The journal