大學(xué)會(huì)計(jì)學(xué)原理經(jīng)典練習(xí)題(存儲(chǔ)版)
【正文】 s on the assets of a pany are called: 151.s Investment.Business equation.D.Cost principle.C.Increase equity.B.Net ine:syts earning activities.E.Helps people make better decisionsD.$32,000.B.A.The excess of expenses over revenues for a period is:161.syInvestment.Retained earnings.E.The bookkeeping phase of accounting.D.$900,000.B.On June 30 of the current year, the assets and liabilities of Phoenix Phildell are as follows: Cash $20,500。$13,050C.Accounts payable.B.A.Photometer Company paid off $30,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?Assets, $30,000 decrease。 equity $30,000 decrease.Assets, $30,000 decrease。 liabilities, $30,000 decrease。sy 168.Assets created by selling goods and services on credit are:A.yt the liabilities, $200,000. What are the claims of the owners?Revenues minus expenses equals net ine.B.Expenses.C.Expense.D.Claims on them can be shared between creditors and owners.E.A liability.sy159.If assets are $99,000 and liabilities are $32,000, then equity equals:Is an informationt system.B.Resources owned or controlled by a panyD.Represents assets taken from a pany for an owner39。sytExpenses:A.Ine statement equation.B.Expenses.E.Liabilities.150.s assets and its liabilities, or net assets is:Assets minus liabilities.B.Liabilities.D.Expenses.146.Equals assets minus liabilities.D.Selling inventory.E.All of these.Are also called strategic management.sy: C6Planning activities:A.s equity decreases $30,000。s equity increases $30,000。If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. At the time of the sale, assume that the seller still owed $30,000 to TrustOne Bank on the land that was purchased for $85,000. Immediately after the sale, the seller paid off the loan to TrustOne Bank. What is the effect of the sale and the payoff of the loan on the accounting equation? owner39。A.$85,000 increaseB.Continuingconcern principle.C.The cash paid only, even if something other than cash was given in the exchange.D.sl: C5130.A limited partnership:A.Hopes to create harmony among accounting practices of different countriesB.Goingconcern principle.C.Revenue recognition principle.D.Means that a business may not reorganize revenue until cash is received.E.All of these.sl: C5120.s owner in the records and reports of the business would be in conflict with the:Are prised of both general and specific principles.B.Business entity principle.C.Goingconcern assumption.D.AICPA.E.IASB.sy: C5112.A corporation:A.AACSB: Ethicsy: C4107.That auditors39。Must pass an examinationC.Certified Internal Auditor.D.Internal Auditing.E.All of these.sy: C3A.Financial accounting.B.Managers.C.To monitor and control pany activities.D.In accounting is only available to large corporations.y: C195.TRUEFALSEFALSEFALSEyyysy78.76.s net ine of $117 million and average assets of $1,400 million results in a return on assets of %.TRUETRUE 69.s accounting equation, but cannot be measured.TRUETRUEOwner39。Revenues occur when expenses exceed assets.The accounting equation implies that: Assets + Liabilities = Equity.Withdrawals are expenses.s claim on assets.TRUETRUEy: C6ve: C6Planning is defining an organization39。The Securities and Exchange Commission (SEC) is the private group that sets both broad and specific accounting standards.FALSEFALSEFALSETRUETRUE13.10.TRUE7.Managerial accounting is the area of accounting that provides internal reports to assist the decision making needs of internal users.Accounting is an informationt system that identifies, records, and municates relevant, reliable, and parable formation about an organization39。TRUEOpportunities in accounting include auditing, consulting, market research, and tax planning.The SarbanesOxley Act (SOX) does not require public panies to apply both accounting oversight and stringent internal controls.14.TRUE17.TRUE20.TRUE23.FALSE26.FALSEThe three mon forms of business ownership include sole proprietorship, partnership, and nonprofit.45.FALSEFALSEA net loss occurs when revenues exceed expenses.Expenses decrease equity and are the costs of assets or services used to earn revenues.55. 57.59. 61.FALSENet ine is the excess of expenses over revenues, whereas net loss is the excess of revenues over expenses.An external transaction is an exchange of value within an organization.68.s equity (investment.)Return on assets is often stated in ratio form as the amount of average total assets divided by ine.Return on assets is useful to decision makers for evaluating management, analyzing and forecasting profits, and in planning activities.75.gy: A4g: A4FALSETRUEFALSETRUEInvesting activities involve the buying and selling of assets such as land and equipment that are held for longterm use in the business.The purchase of supplies appears on the statement of cash flows as an investing activity because it involves the purchase of assets.The statement of cash flows reports on cash flows separated into operating, investing, and financing activities over a period of time. Chuck Taylor withdrew $6,000 in cash from FastForward. This
環(huán)評(píng)公示相關(guān)推薦
鄂ICP備17016276號(hào)-1