会计循环1习题精选含答案docxWord文档下载推荐.docx
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3.Revenueaccountsshouldbegineachaccountingperiodwithzerobalances.
4.Closingrevenueandexpenseaccountsattheendoftheaccountingperiodservestomaketherevenueandexpenseaccountsreadyforuseinthenextperiod・
5.Theclosingprocesstakesplaceafterfinancialstatementshavebeenprepared.TRUE
6.Revenueandexpenseaccountsarepermanent(real)accountsandshouldnotbeclosedattheendoftheaccountingperiod・
7.Closingentriesresultinrevenuesandexpensesbeingreflectedintheowner'
scapitalaccount.
8.Theclosingprocessisastepintheaccountingcyclethatpreparesaccountsforthenextaccountingperiod.
9.Theclosingprocessisatwo-stepprocess.Firstrevenue,expense,andwithdrawalsaresettoazerobalance.Second,theprocesssummarizesaperiod'
sassetsandexpenses.
10.Closingentriesarerequiredattheendofeachaccountingperiodtocloseallledgeraccounts.
11.Closingentriesaredesignedtotransfertheend-of-periodbalancesintherevenueaccounts,theexpenseaccounts,andthewithdrawalsaccounttoownefscapitalTRUE
12.TheIncomeSummaryaccountisapermanentaccountthatwillbecarriedforwardperiodafterperiod.
13.Closingentriesarenecessarysothatowner'
scapitalwillbegineachperiodwithazerobalance.
14.Permanentaccountscarrytheirbalancesintothenextaccountingperiod・Moreover,asset,liabilityandrevenueaccountsarenotclosedaslongasacompanycontinuesinbusiness.
15.Thefirststepintheaccountingcycleistoanalyzetransactionsandeventstoprepareforjournalizing.
16.Theaccountingcyclereferstothesequenceofstepsinpreparingtheworksheet.
17.Thefirstfivestepsintheaccountingcycleincludeanalyzingtransactions,journalizing,posting,preparinganunadjustedtrialbalance,andrecordingadjustingentries.
18.Thelastfourstepsintheaccountingcycleincludepreparingtheadjustedtrialbalance,preparingfinancialstatementsandrecordingclosingandadjustingentries.FALSE
19・Aclassifiedbalancesheetorganizesassetsandliabilitiesintoimportantsubgroupsthatprovidemoreinformationtodecisionmakers.
20.Anunclassifiedbalancesheetprovidesmoreinformationtousersthanaclassifiedbalancesheet.
21.Currentassetsandcurrentliabilitiesareexpectedtobeuseduporcomeduewithinoneyearorthecompany'
soperatingcyclewhicheverislonger.
22.Intangibleassetsarelong-termresourcesthatbenefitbusinessoperationsthatusuallylackphysicalformandhaveuncertainbenefits.
23.Assetsareoftenclassifiedintocurrentassets,long-terminvestments,plantassets,andintangibleassets.
24.Currentliabilitiesarecashandotherresourcesthatareexpectedtobesold,collectedorusedwithinoneyearorthecompany'
25.Long-terminvestmentscanincludelandheldforfutureexpansion.
26.Plantassetsandintangibleassetsareusuallylong-termassetsusedtoproduceorsellproductsandservices.
27.Currentliabilitiesincludeaccountsreceivable,unearnedrevenues,andsalariespayable.
2&
Cashandofficesuppliesarebothclassifiedascurrentassets.
29.Plantassetsarealsocalledfixedassetsorproperty,plant,andequipment.
30.Thecurrentratioisusedtohelpassessacompany'
sabilitytopayitsdebtsinthenearfuture.
MultipleChoiceQuestions
64.Anothernamefortemporaryaccountsis:
A.Realaccounts.
B.Contraaccounts.
C・Accruedaccounts.
D.Balancecolumnaccounts.
E・Nominalaccounts.
65.Whenclosingentriesaremade:
A.Allledgeraccountsareclosedtostartthenewaccountingperiod.
KAlltemporaryaccountsareclosedbutnotthepermanentaccounts.
C.Allrealaccountsareclosedbutnotthenominalaccounts.
D.Allpermanentaccountsareclosedbutnotthenominalaccounts.
E.Allbalancesheetaccountsareclosed.
66.Revenues,expenses,andwithdrawalsaccounts,whichareclosedattheendofeachaccountingperiodare:
KTemporaryaccounts-
C.Closingaccounts.
D.Permanentaccounts.
E.Balancesheetaccounts.
67.Whichofthefollowingstatementsisincorrect?
A.Permanentaccountsisanothernamefornominalaccounts.
B・Temporaryaccountscarryazerobalanceatthebeginningofeachaccountingperiod.
C・TheIncomeSummaryaccountisatemporaryaccount.
D.Realaccountsremainopenaslongastheasset,liability,orequityitemsrecordedintheaccountscontinueinexistence.
E.Theclosingprocessappliesonlytotemporaryaccounts.
68.Assets,liabilities,andequityaccoun
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