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1、金融英语中级会计学模拟1SECTIONONEAnswerallquestionsinthissection.Question1ReadthefollowingstatementsandstatewhethertheyareTrue(T)orFalseF..Forallfalsestatements,youarerequiredtowritethecorrectstatements・Writeallanswersontheanswersheets.1、Intimesofrisingprices,theLIFOmethodof
2、inventoryvaluationismoreprudentthantheFIFOmethod.2、Inordertoprepareanincomeandexpenditureaccount,aclubwillfollowallthebasicrulesforpreparingaprofitandlossaccount•3^Aforeman1ssalaryisadirectcostwithrespecttothedepartment1sindividualproducts•4、Whenfactoryhassparecap
3、acity,thefixedcostsarerelevantinrespecttotheadditionalorder.5^Inordertolowerbreakevenpointinunit,businessshouldincreaseitsfixedcosts•6、Whenthepercentageofsalesmethodisused,theestimatedbaddebtexpensesshouldbeadjustedbytheexistingbalanceofdoubtfuldebtprovision.Quest
4、ion2Readthefollowingstatements/questionsandchoosethecorrectanswersbywritingthealphabeticalletterontheanswersheets.7^Whichoneisnotincludedinthefinancialstatementfootnote?a.changesinaccountingestimates.b.accountingmethodsusedinpreparingthefinancialstatement.c.contin
5、gentliabilitiescannotbe,reasonablyestimated.d•debtorswhichhappenedbeforethebalancesheetdatearecollectedbetweenthebalancesheetdateandtheissueofstatementforthatyear.8^Ifatradedebtorof$20,000hasbeenwronglypostedtothecreditofthetradecreditor,buthasbeencorrectlyentered
6、inthebuyer1saccount,thetotalofthetrialbalancewouldshow.a.thecreditsidetobe$20,000morethanthedebitsideb.thedebitsidetobe$20,000morethanthecreditsidec.thecreditsidetobe$40,000momthanthedebitsided.thedebitsidetobe$40,000morethanthecreditside9、Amanufacturerhasfilefoll
7、owingfigurefortheproducts:ProductAProductBProductCProductDUnitcontribution$70$40$20$50Unitsproducedunderconstraints1,000units1,200units2,000units1,250unitsTheopportunitycostwhichtoproduceproductDinsteadofproductCis•a.$48,000b.$40,000c.$62,500d.$22,50010>Amanufactu
8、rerhasthefollowingfigurefortheproductAOriginalDataIncreaseVariableCostto$15Unitselling3030Unitvariablecost1015Fixedcost3,0003,000Budgetsellingunits30030
