金融英语-金融英语中级会计学模拟2

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1、金融英语中级会计学模拟2SECTIONONEAnswerallquestionsinthissection.Question1ReadthefollowingstatementsandstatewhethertheyamTree(T)orFalseF..Forallfalsestatements,youarerequiredtowritethecorrectstatements・Writeallanswersontheanswersheets.Forpurposeofrecordingaccountinginformation,each

2、companyisconsideredtobeseparatefromitsownersandallothercompanies.Thisconcernstheentityconcept.2、Inaninflationeconomy,theinventoryendingbalancerecordedbyFIFOmethodislowerthanthatrecordedbyLIFOmethod•3Ifthepurchaserhasbeengivenapurchaseallowance,theamountofallowanceshouldb

3、edebitedtopurchasereturnaccount.4、Inlong-termconstructioncontracts,revenueisrecognizedatthepointofthecashcollected.5^Inbusinesschargesdepreciationinaccountsztheaccountingconcepttobeconsideredisthematerialityconcept.6、Cumulativepreferenceshareshavetherighttoaccumulatedivi

4、dendsinagivenyeariftheyareinarrears.Question2Readthefollowingstatements/questionsandchoosethecorrectanswersbywritingthealphabeticalletterontheanswersheets.7^Thefollowingcostsarerelevanttomakeadecisionexcept•a•differentialcost•b.opportunitycost•c.historicalcost.d.incremen

5、talcost•8^Takethedeflationintoconsideration,whichmethodofinventoryvaluationwillusuallyproducethehighestprofitandthelowestclosinginventoryvalue.a.FIFOmethod,c•LIFOmethod.b.Weightedaveragecostmethod.d.Noneoftheabove.Amanufacturerhasthe2003:followingfiguresfortheyearended31

6、DecernberDirectmaterialsFactoryoverheadsDirectlabor$7,000$10,000$5,000Increaseinworks-in-progress$2,000Theconversioncostisa.12,000.b・17z000・c.15z000.d・10,000.lOxJulieplanstoselldelicatepaperboxesinher:retailshop

7、heencounterswillbe$600.Thenthebreakevenis.a・40units.b.60units.c.80units.d.120units.11nThefollowingexpenditureshouldbe.debitedtotheassetaccountexcepta•additionsthatextendthelifeofanasset•b•ordinaryrepaircosts.c•replacementsthatexpandtheusesofanasset•dFo

8、llowingthepreparationoftheprofitandlossaccount,itisdiscoveredthatwork-in-progresshasbeenovervaluedby$2,