财务会计模拟试卷

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1、TRUE/FALSE1.Theexcessofrevenueovertheexpensesincurredinearningtherevenueiscalledcapital.ANS:FDIF:2OBJ:082.Drawingsareanexampleofanexpense.ANS:FDIF:2OBJ:013.Anadjustingentrywouldadjustrevenuesoitisreportedwhenearnedandnotwhencashisreceived.ANS:TDIF:2OBJ

2、:024.Acompanydepreciatesitsequipment$350ayear.TheadjustingentryforDecember31isdebitDepreciationExpense,$350andcreditEquipment,$350.ANS:FDIF:4OBJ:035.AfterNetIncomeorLossisenteredontheworksheet,thedebitcolumntotalmustequalthecreditcolumntotalfortheBalan

3、ceSheetpairofcolumns.ANS:TDIF:3OBJ:026.Theincomesummaryaccountisclosedtotheowner'scapitalaccount.ANS:TDIF:1OBJ:047.Accountsintheledgerareusuallymaintainedinalphabeticalorder.ANS:FDIF:2OBJ:018.Theincreasesideofallaccountsisthenormalbalance.ANS:TDIF:2OBJ

4、:039.Theendingmerchandiseinventoryfor2005isthesameasthebeginningmerchandiseinventoryfor2006.ANS:TDIF:2OBJ:0210.Inaperpetualinventorysystem,whenmerchandiseisreturnedtotheseller,CostofMerchandiseSoldisoneoftheaccountsdebitedtorecordthetransaction.ANS:TDI

5、F:2OBJ:0311.Whenanaccountreceivablethathasbeenwrittenoffissubsequentlycollected,theaccountreceivableisreinstated.ANS:TDIF:2OBJ:0412.Anotereceivablecanbesoldtoafinancialinstitutiontosecurecashbeforethematuritydate.Thistypeoftransactioniscalleddiscountin

6、gthenotereceivable.ANS:TDIF:1OBJ:App13.Allproperty,plant,andequipmentassetsaredepreciatedovertime.ANS:FDIF:2OBJ:0114.CapitalexpendituresarecoststhatarechargedtoStockholders'Equityaccounts.ANS:FDIF:1OBJ:0315.Interestexpenseisreportedintheoperatingexpens

7、esectionoftheincomestatement.ANS:FDIF:2OBJ:0216.Dividendsinarrearsareliabilitiesofthecorporation.ANS:FDIF:2OBJ:0317.Alargeretainedearningsaccountmeansthatthereiscashavailabletopaydividends.ANS:FDIF:2OBJ:0718.Theamortizationofapremiumonbondspayabledecre

8、asesbondinterestexpense.ANS:TDIF:2OBJ:0419.Theeffective-interestmethodofamortizingabonddiscountorpremiumisthepreferredmethodANS:TDIF:2OBJ:0420.Iftwocompanieshavethesamecurrentratio,theirabilitytopayshort-termdebtisthesame.ANS:FDIF:2OBJ: