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【正文】 al balancec. the ledgerd. the chart of accounts二、多項(xiàng)選擇題1. Three major fields of accounting activity are: ( ) a. social accounting b. private accountingc. public accountingd. governmental accounting2. The three forms of business organizations are: ( ) a. Corporationb. Enterprise.c. Single proprietorship d. Partnership3. Specialized fields of accounting include: ( ) a. cost accountingb. tax accountingc. governmental and notforprofit accountingd. HR accountinge. international accounting4. The interested users of financial information include: ( ) a. Banks and other creditorsb. Managersc. Stockholdersd. Investment advisorse. Governmental agencies5. Longterm assets can be further classified into: ( ) a. longterm investments b. fixed assetsc. intangible assets.d. capital stock6. The necessary data for preparing the balance sheet and ine statement are accumulated in major categories of ledger accounts including: ( ) a. assets accountsb. liabilities accounts c. owners’ equity accountsd. revenues accountse. expenses accounts7. Adjusting entries made to align revenue and expense with the appropriate periods consist of: ( ) a. Apportioning recorded cost to periods benefited.b. Apportioning recorded revenue to periods in which it is earnedc. Accruing unrecorded expensesd. Accruing unrecorded revenue e. Merchandise inventory adjustment8. Assume ending inventory is overstated because some inventory is accidentally counted twice. Which of the statements below regarding this situation is true? ( ) a. Net ine for this accounting period will be overstated.b. COGS for this accounting period will be overstatedc. Net ine in the next accounting period will be understated.d. Ending Retained Earnings in the next accounting period will be correct. 9. Which statement below regarding closing procedures is correct? ( ) a. Closing procedures only apply to temporary accounts. b. Closing the books means to prepare the accounts for next period39。 while current liabilities are listed in the order that they e due. ( ) 6. Closing procedures only apply to permanent accounts. ( )7. Net ine or net loss in the ine statement is reflected in the owners’ equity section on the balance sheet at the end of the accounting period. ( ) 8. Retained earning represents exactly what the term implies: that portion of net ine the pany has retained. ( ) 9. Business firms whose accounting year ends on December 31 are said to be on a calendaryear basis. ( ) 10. The ine statement subtracts assets from revenues to determine ine or loss for a period time. ( )11. Posting transfers journal entries to ledger accounts. ( )12. When interim financial statement are being prepared, usually adjustments are made only on the worksheet and will not be recorded in the journal and posted to the ledger account.. ( )13. In order to permit normal recording of subsequent payments or receipts, it is desirable to make reversing entries at the end of the accounting period. ( )14. The entry to write off a specific uncollectible account has no effect on net realizable Account Receivable account. ( )15. In the case of corporation, the Ine Summary account will be closed to the Retained Earnings account, which is kept separately from the Capital Stock account. ( )16. COGS =Beginning inventory－Net purchase－Ending inventory ( )17. In order to permit normal recording of subsequent payment or rece
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