专业英语期末试卷
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ACCOUNTING ENGLISH Middle-of-term Test Papers
Part I .Translating the following terms
1、 Notes to financial statements
2、 Accounting elements
3、 Variable costs
4、 Economic entity
5、 Depreciation expense
6、 Deferred income taxes
7、 Nominal accounts
8、 ROA
9、LIFO
10、 Work in process
11
、 现金收支
12
、原材料
13
、制造费用
14
、相关性
15
、持续经营
16
、复式记账
17
、优先股
ACCOUNTING ENGLISH Middle-of-term Test Papers
18
、预付费用
19
、购货退回与折让
20
、永续盘存制
Part II .True or False
1、 The accounting process generates financial reports for both
“internal ”and “external ”
users.
2、 The balance sheet reflects the basic accounting equation and the means of
financing the organization's assets.
3、 The existence of Accounts Receivable on the Balance Sheet indicates that the
company has one or more creditors.
4、 Liabilities are classified and presented in increasing order of
liquidity.
5、 Working capital equals current assets less current liabilities.
6、 Declaration of dividends reduces the retained earnings portion of the
owners' equity of the corporation and creates a liabilities called
Dividends Payable.
7、 A chart of accounts is a listing of the titles of all accounts.
8、 The cash basis of accounting often violates the matching rule.
9、 Closing entries convert real and nominal accounts to zero balance.
10、 The work sheet is published with the balance sheet and income statement, as a
supplementary statement.
11、 A company's sustainable growth rate is the highest growth rate in sales it can
attain without issuing new stock.
12、 Only rapidly growing firms have growth management problems.
13、ROEis a measure of the efficiency with which a companyemploys owners'
capital.
14、 Present value is the amount of cash inflows or outflows discounted to their
present value.
15、 It is no accident that Profit Margin and Assets Turnover tend to vary inversely in
a certain business.
16、An collection period of 40 days means that the company has an average
of 40 days' worth of credit sales tied up in accounts receivable.
17、 Pro forma financial statements are the most widely used vehicles for financial
forecasting.
18、 The percent-of-sales method can provide simple, logical estimates of
many important variables in the course of financial forecasting.
Part 皿.Accounting practice
1、 Use the given information of ABCCompanyand prepare a Balance sheet.
interest payable 34,000
prepaid rent 30,000
cash 82,000
accounts payable 145,000
income tax payable 39,800
paid-in capital 300,000
store equipment 743,000
bonds payable 289,000
merchandise inventory 55,000
retained earnings 110,200
accumulated
178,000
depreciation
wage payable 60,000
accounts receivable 246,000
2、Use the above completed Bala nee sheet and the followi ng In come stateme nt to
calculate
In come Stateme nt
sales $200,000
cost of goods sold
160000
gross profit 40000
operati ng expe nse:
wages
18000
rent
600
depreciati on 6000 24600
operati ng in come 15400
in come taxes(at 40%)
6160
net in come $9.240
(1) Debt-to-assets ratio
(2) Retur n on equity
(3) Collecti on period
(4) Total assets tur nover
(5) Curre nt ratio
Part IV . Journalizing these given transactions for A&B Corporation.
(1) Sold merchandise on credit to Corson $50,000,with terms of 1/10
,
n/30.(Net method)
(2) Purchased merchandise worthy of $40,000 from Galen Company on credit.
(3) Estimated uncollectible accounts receivable of $10,000 for the period.
(4) Merchandise costing $2000 was sold and returned now by the customer.
(5) Accrued interest expense$600.
ACCOUNTING ENGLISH Middle-of-term Test Papers
The Answer Sheet:
Class: Name:
No
Grade:
Part I . Terms
Part II. True or False
Part
皿。
1、Bala nee
Sheet
2、 Financial ratios
Part IV Journal entries