《会计英语》复习资料
二、单项选择（红字为正确答案）：
Financial reports are used by
d. all of the above
1. For accounting purposes, the business entity should be considered separate from its owners if the entity is（）
d. all of the above
2. Which of the following best describes accounting?
b. is an information system that provides reports to stakeholders
3. Using accrual accounting, expenses are recorded and reported only
a. when they are incurred, whether or not cash is paid
4. The measurement bases exclude( )
c. Sale price
5. Debts owed by a business are referred to as（）
d. liabilities
6. Which of the following financial statements reports information as of a specific date?
c. balance sheet
7. Cash investments made by the owner to the business are reported on the statement of cash flows in the
a. financing activities section
8. The accounting equation may be expressed as
d. Assets - Liabilities = Owner's Equity
9. Which of the following groups of accounts have a normal credit balance?
a. revenues, liabilities, capital
10. Which of the following groups of accounts have a normal debit balance?
d. assets, expenses
11. Which of the following types of accounts have a normal credit balance?
c. revenues and liabilities
12. In the accounting cycle, the last step is（）
a. preparing a post-closing trial balance
13. Which of the following should not be considered cash by an accountant?
c. postage stamps
14. A bank reconciliation should be prepared periodically because （）
c. any differences between the depositor's records and the bank's records
should be determined, and any errors made by either party should be
discovered and corrected
15. The amount of the outstanding checks is included on the bank reconciliation as a(n) （）
c. deduction from the balance per bank statement
16. The asset created by a business when it makes a sale on account is termed
c. accounts receivable
17. What is the type of account and normal balance of Allowance for Doubtful Accounts?
a. Contra asset, credit
18. The term "inventory" indicates （）
d. both A and B
19. Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?
a. net income is understated
20.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the error?
b. owner's equity is overstated
21.The inventory method that assigns the most recent costs to cost of good sold is
b. LIFO
22.Under which method of cost flows is the inventory assumed to be composed of the most recent costs?
b. first-in, first-out
23. When the perpetual inventory system is used, the inventory sold is debited to ( )
b. cost of merchandise sold
24．All of the following below are needed for the calculation of depreciation except
d. book value
25. A characteristic of a fixed asset is that it is
b. used in the operations of a business
26. Accumulated Depreciation ( )
c. is a contra asset account
27. The two methods of accounting for investments in stock are the cost method and the （）
b. equity method
28. A capital expenditure results in a debit to （）
d. an asset account
29. Current liabilities are（）
d. due and payable within one year
30. The debt created by a business when it makes a purchase on account is referred to as an
b. account payable
31. Notes may be issued （）
d. all of the above
32.The cost of a product warranty should be included as an expense in the
