大学《会计学原理》经典练习题.docx
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大学《会计学原理》经典练习题.docx
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大学《会计学原理》经典练习题
True/FalseQuestions
1. Accountingisaninformationtsystemthatidentifies,records,andcommunicatesrelevant,reliable,andcomparableformationaboutanorganization'sbusinessactivities.
TRUE
2. Anaccountinginformationsystemcommunicatesdatatohelpbusinessesmakebetterdecisions.
TRUE
3. Managerialaccountingistheareaofaccountingthatprovidesinternalreportstoassistthedecisionmakingneedsofinternalusers.
TRUE
4. Internaloperatingactivitiesincluderesearchanddevelopment,distribution,andhumanresources.
TRUE
s
5. Externalusersincludelenders,shareholders,customers,andregulators.
TRUE
6. Regulatorsoftenhavelegalauthorityovercertainactivitiesoforganizations.
TRUE
7. Internalusersincludelenders,shareholders,brokersandmanagers.
FALSE
8. Opportunitiesinaccountingincludeauditing,consulting,marketresearch,andtaxplanning.
TRUE
9. Identifyingtheproperethicalpathiseasy.
FALSE
10. Goodethicsaregoodbusiness.
TRUE
11. TheSarbanes-OxleyAct(SOX)doesnotrequirepubliccompaniestoapplybothaccountingoversightandstringentinternalcontrols.
FALSE
12. Ownersofacorporationarecalledshareholdersorstockholders.
TRUE
13. Inthepartnershipformofbusiness,theownersarecalledstockholders.
FALSE
14. Asoleproprietorshipisoneormoreindividualssellingproductsorservicesforprofit.
FALSE
15. Accountinginformationiscommunicatedtovariouspartiesthroughfinancialstatements.
TRUE
16. TheFinancialAccountingStandardsBoardistheprivategroupthatsetsbothbroadandspecificaccountingprinciples.
TRUE
17. Thebusinessentityprinciplemeansthatabusinesswillcontinueoperatingforanindefiniteperiodoftime.
FALSE
18. Generallyacceptedaccountingprinciplesarethebasicassumptions,concepts,andguidelinesforpreparingfinancialstatements.
TRUE
19. Thebusinessentityprinciplemeansthatabusinessisaccountedforseparatelyfromotherbusinessentities,includingitsownerorowners.
TRUE
20. Asageneralrule,revenuesshouldnotberecognizedintheaccountingrecordsuntilitisreceivedincash.
FALSE
21. Specificaccountingprinciplesarebasicassumptions,concepts,andguidelinesforpreparingfinancialstatementsandariseoutoflong-usedaccountingpractice.
FALSE
22. Generalaccountingprinciplesarisefromlong-usedaccountingpractice.
TRUE
23. Asoleproprietorshipisabusinessownedbyoneormorepersons.
FALSE
24. Unlimitedliabilityisanadvantageofasoleproprietorship.
FALSE
25 Understandinggenerallyacceptedaccountingprinciplesisnotnecessarytouseandinterpretfinancialstatements.
FALSE
26. TheInternationalAccountingStandardsboard(IASB)hastheauthoritytoimposeitsstandardsoncompaniesaroundtheworld.
FALSE
27. Theideathatabusinesswillcontinuetooperateuntilitcansellitsassetstopayitscreditorsunderliesthegoing-concernassumption.
FALSE
28. Alimitedliabilitycompanyoffersthelimitedliabilityofapartnershiporproprietorshipandthetaxtreatmentofacorporation.
FALSE
29. TheSecuritiesandExchangeCommission(SEC)isthegovernmentgroupthatestablishesreportingrequirementsforcompaniesthatissuestocktothepublic.
TRUE
30. TheSecuritiesandExchangeCommission(SEC)istheprivategroupthatsetsbothbroadandspecificaccountingstandards.
FALSE
31. Thethreecommonformsofbusinessownershipincludesoleproprietorship,partnership,andnon-profit.
FALSE
32. Thethreemajortypesofbusinessactivitiesareoperating,financing,andinvesting.
TRUE
33. Planningisdefininganorganization'sideas,goals,andactions.
TRUE
45. Strategicmanagementistheprocessofdeterminingtherightmixofoperatingactivitiesforthetypeoforganization,itsplans,anditsmarkets.
TRUE
46. Planningactivitiesarethemeansanorganizationusestopayforresourceslikeland,buildings,andequipmenttocarryoutitsplans.
FALSE
ve:
C6
47. Thethreemajoractivitiesofabusinessarerecording,financing,andinvesting.
FALSE
48. Investingactivitiesaretheacquiringandsellingofresourcesthatanorganizationusestoacquireandsellitsproductsorservices.
TRUE
y
:
C6
49. Ownerfinancingreferstoresourcescontributedbycreditorsorlenders.
FALSE
y
50. Revenuesareincreasesinequityfromacompany'searningactivities.
TRUE
s
y
51. Anetlossoccurswhenrevenuesexceedexpenses.
FALSE
t
52. Netincomeoccurswhenrevenuesexceedexpenses.
TRUE
t
53. Expensesdecreaseequityandarethecostsofassetsorservicesusedtoearnrevenues.
TRUE
t
54. Liabilitiesaretheowner'sclaimonassets.
FALSE
s
y
55. Assetsaretheresourcesownedorcontrolledbyabusiness.
TRUE
s
y
56. Withdrawalsareexpenses.
FALSE
s
y
57. Theaccountingequationcanberestatedas:
Assets-Equity=Liabilities.
TRUE
t
58. Theaccountingequationimpliesthat:
Assets+Liabilities=Equity.
FALSE
t
59. Thebalancesheetisalsocalledthestatementoffinancialpositionbecauseitdescribesthefinancialpositionofthebusinessatapointintime.
TRUE
s
y
60. Revenuesoccurwhenexpensesexceedassets.
FALSE
s
y
61. Acompanymightprovideaserviceorproductoncredit."Oncredit"impliesthatthecashpaymentwilloccuronalaterdate.
TRUE
t
62. Owner'sinvestmentsaregrossincreasesinequityfromacompany'searningsactivities.
FALSE
t
63. Thelegitimateclaimsofabusiness'screditorstakeprecedenceovertheclaimsofthebusinessowner.
TRUE
l
t
64. Netincomeistheexcessofexpensesoverrevenues,whereasnetlossistheexcessofrevenuesoverexpenses.
FALSE
t
65. Everybusinesstransactionleavestheaccountingequationinbalance.
TRUE
s
y
66. Anexternaltransactionisanexchangeofvaluewithinanorganization.
FALSE
s
y
67. Fromanaccountingperspective,aneventisahappeningthataffectsanentity'saccountingequation,butcannotbemeasured.
FALSE
s
y
68. Owner'sequityisincreasedwhencashisreceivedfromcustomersinpaymentofpreviouslyrecordedaccountsreceivable.
FALSE
t
69. Anowner'sinvestmentinabusinessalwayscreatesanasset(cash),aliability(notepayable),andowner'sequity(investment.)
FALSE
t
70. Netassetsalwaysincreasewhenrevenueisrecorded.
TRUE
t
71. Returnonassetsisoftenstatedinratioformastheamountofaveragetotalassetsdividedbyincome.
FALSE
t
72. Returnonassetsisalsoknownasreturnoninvestment.
TRUE
s
y
73. Returnonassetsisusefultodecisionmakersforevaluatingmanagement,analyzingandforecastingprofits,andinplanningactivities.
TRUE
s
y
74. Reebok'snetincomeof$117millionandaverageassetsof$1,400millionresultsinareturnonassetsof8.36%.
TRUE
t
75. Returnonassetsmeasurestheeffectivenessofanorganization'sabilitytogenerateprofitusingitsassets.
TRUE
t
:
A4
76. Riskistheamountofuncertaintyaboutthereturnweexpecttoearn.
TRUE
g
y
:
A4
77. Generallythelowertherisk,thelowerthereturnthatcanbeexpected.
TRUE
g
:
A4
78. U.S.GovernmentTreasurybondsprovidehighreturnandlowrisktoinvestors.
FALSE
g
:
A4
79. Thefourbasicfinancialstatementsincludethebalancesheet,incomestatement,statementofowner'sequity,andstatementofcashflows.
TRUE
s
y
80. Anincomestatementreportsoninvestingandfinancingactivities.
FALSE
y
81. Abalancesheetcoversaperiodoftimesuchasamonthoryear.
FALSE
y
82. Theincomestatementisafinancialstatementthatshowsrevenuesearnedandexpensesincurredduringaspecifiedperiodoftime.
TRUE
y
83. Thestatementofcashflowsshowstheneteffectofrevenuesandexpensesforareportingperiod.
FALSE
y
84. Theincomestatementshowsthefinancialpositionofabusinessonaspecificdate.
FALSE
y
85. Thefirstsectionoftheincomestatementreportscashfromoperations.
FALSE
y
86. Thebalancesheetisbasedontheaccountingequation.
TRUE
y
87. Owner'scontributionsandwithdrawalsarereportedontheincomestatement.
FALSE
y
88. Investingactivitiesinvolvethebuyingandsellingofassetssuchaslandandequipmentthatareheldforlong-termuseinthebusiness.
TRUE
y
89. Operatingactivitiesincludelong-termborrowingandrepayingcashfromlenders,andcashinvestmentsorwithdrawalsbytheowner.
FALSE
y
90. Thepurchaseofsuppliesappearsonthestatementofcashflowsasaninvestingactivitybecauseitinvolvesthepurchaseofassets.
FALSE
y
91. Theincomestatementreportsonoperatingactivitiesatapointintime.
FALSE
y
92. Thestatementofcashflowsreportsoncashflowsseparatedintooperating,investing,andfinancingactivitiesoveraperiodoftime.
TRUE
y
93. ChuckTaylorinvested$175,000cashinFastForward.Thisamountwouldbereportedinthestatementofcashflowsunderfinancingac
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