大學(xué)會(huì)計(jì)學(xué)原理經(jīng)典練習(xí)題(已修改)
2025-08-17 04:49 本頁面
【正文】 True / False Questions 1.Accounting is an informationt system that identifies, records, and municates relevant, reliable, and parable formation about an organization39。s business activities.TRUE2.An accounting information system municates data to help businesses make better decisions.TRUE3.Managerial accounting is the area of accounting that provides internal reports to assist the decision making needs of internal users.TRUE4.Internal operating activities include research and development, distribution, and human resources.TRUEs5.External users include lenders, shareholders, customers, and regulators.TRUE6.Regulators often have legal authority over certain activities of organizations.TRUE7.Internal users include lenders, shareholders, brokers and managers.FALSE8.Opportunities in accounting include auditing, consulting, market research, and tax planning.TRUE9.Identifying the proper ethical path is easy.FALSE10.Good ethics are good business.TRUE11.The SarbanesOxley Act (SOX) does not require public panies to apply both accounting oversight and stringent internal controls.FALSE12.Owners of a corporation are called shareholders or stockholders.TRUE13.In the partnership form of business, the owners are called stockholders.FALSE14.A sole proprietorship is one or more individuals selling products or services for profit.FALSE15.Accounting information is municated to various parties through financial statements.TRUE16.The Financial Accounting Standards Board is the private group that sets both broad and specific accounting principles.TRUE17.The business entity principle means that a business will continue operating for an indefinite period of time.FALSE18.Generally accepted accounting principles are the basic assumptions, concepts, and guidelines for preparing financial statements.TRUE19.The business entity principle means that a business is accounted for separately from other business entities, including its owner or owners.TRUE20.As a general rule, revenues should not be recognized in the accounting records until it is received in cash.FALSE21.Specific accounting principles are basic assumptions, concepts, and guidelines for preparing financial statements and arise out of longused accounting practice.FALSE22.General accounting principles arise from longused accounting practice.TRUE23.A sole proprietorship is a business owned by one or more persons.FALSE24.Unlimited liability is an advantage of a sole proprietorship.FALSE25Understanding generally accepted accounting principles is not necessary to use and interpret financial statements.FALSE26.The International Accounting Standards board (IASB) has the authority to impose its standards on panies around the world.FALSE27.The idea that a business will continue to operate until it can sell its assets to pay its creditors underlies the goingconcern assumption.FALSE28.A limited liability pany offers the limited liability of a partnership or proprietorship and the tax treatment of a corporation.FALSE29.The Securities and Exchange Commission (SEC) is the government group that establishes reporting requirements for panies that issue stock to the public.TRUE30.The Securities and Exchange Commission (SEC) is the private group that sets both broad and specific accounting standards.FALSE31.The three mon forms of business ownership include sole proprietorship, partnership, and nonprofit.FALSE32.The three major types of business activities are operating, financing, and investing.TRUE33.Planning is defining an organization39。s ideas, goals, and actions.TRUE45.Strategic management is the process of determining the right mix of operating activities for the type of organization, its plans, and its markets.TRUE46.Planning activities are the means an organization uses to pay for resources like land, buildings, and equipment to carry out its plans.FALSEve: C647.The three major activities of a business are recording, financing, and investing.FALSE48.Investing activities are the acquiring and selling of resources that an organization uses to acquire and sell its products or services.TRUEy: C649.Owner financing refers to resources contributed by creditors or lenders.FALSEy50.Revenues are increases in equity from a pany39。s earning activities.TRUEsy51.A net loss occurs when revenues exceed expenses.FALSEt52.Net ine occurs when revenues exceed expenses.TRUEt 53.Expenses decrease equity and are the costs of assets or services used to earn revenues.TRUEt54.Liabilities are the owner39。s claim on assets.FALSEsy55.Assets are the resources owned or controlled by a business.TRUEsy56.Withdrawals are expenses.FALSEsy 57.The accounting equation can be restated as: Assets Equity = Liabilities.TRUEt58.The accounting equation implies that: Assets + Liabilities = Equity.FALSEt59.The balance sheet is also called the statement of financial position because it describes the financial position of the business at a point in time.TRUEsy60.Revenues occur when expenses exceed assets.FALSEsy 61.A pany might provide a service or product on credit. On credit implies that the cash payment will occur on a later date.TRUEt62.Owner39。s investments are gross increases in equity from a pany39。s earnings activities.FALSEt63.The legitimate claims of a business39。s creditors take precedence over the claims of the business owner.TRUElt64.Net ine is the exc
環(huán)評(píng)公示相關(guān)推薦
鄂ICP備17016276號(hào)-1