财务会计(英)答案

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1、CHAPTER11-1Accountingisaprocessofidentifying,recording,summarizingandreportingeconomicinformationtodecisionmakers.1-2No.Accountingisaboutrealinformationaboutrealcompanies.Inlearningaccountingitishelpfultoseeaccountingreportsfromvariouscompanies.Thishelpsputtherulesandtechniquesofacc

2、ountingintoaframeworkthatmakesthemeasiertounderstand.1-3Examplesofdecisionsthatarelikelytobeinfluencedbyfinancialstatementsincludechoosingwheretoexpandorreduceoperations,lendingmoney,investingownershipcapital,andrewardingmangers.1-4Usersoffinancialstatementsincludemanagers,lenders,s

3、uppliers,owners,incometaxauthorities,andgovernmentregulators.1-5Themajordistinctionbetweenfinancialaccountingandmanagementaccountingistheirusebytwoclassesofdecisionmakers.Managementaccountingisconcernedmainlywithhowaccountingcanserveinternaldecisionmakerssuchasthechiefexecutiveoffic

4、erandotherexecutives.Financialaccountingisconcernedwithsupplyinginformationtoexternalusers.1-6Balancesheetsarealsocalledstatementsoffinancialconditionandstatementsoffinancialposition.1-7No.Everytransactionshouldleavethebalancesheetequationinbalance.Accountingisoftencalled“double-ent

5、ry”becauseatleasttwoentriesarerequiredforeachtransactiontokeeptheequationinbalance.29Chapter1Accounting:TheLanguageofBusiness1-8Thisistrue.Whenacompanybuysinventoryforcash,oneassetistradedforanother,andneithertotalassetsnortotalliabilitieschange.Thus,thebalancesheetequationstaysinba

6、lance.Whenacompanybuysinventoryoncredit,bothinventoryandaccountspayableincrease.Thus,bothtotalassetsandtotalliabilitiesincreasebythesameamount,againkeepingthebalancesheetequationinbalance.1-9Theevidenceforanotepayableincludesapromissorynote,buttheevidenceforanaccountpayabledoesnot.1

7、-10Owners'equityisalsocalledcapital(forproprietorshipsandpartnerships)andshareholders'equityorstockholders'equity(forcorporations).1-11Limitedliabilitymeansthatcorporateownersarenotpersonallyliableforthedebtsofthecorporation.Creditors'claimscanbesatisfiedonlybytheassetsoftheparticul

8、arcorporation.1-12T