大学《会计学原理》经典练习题Word格式.docx

大学《会计学原理》经典练习题Word格式.docx

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7. 

Internalusersincludelenders,shareholders,brokersandmanagers. 

FALSE

8. 

Opportunitiesinaccountingincludeauditing,consulting,marketresearch,andtaxplanning. 

9. 

Identifyingtheproperethicalpathiseasy. 

10. 

Goodethicsaregoodbusiness. 

11. 

TheSarbanes-OxleyAct（SOX）doesnotrequirepubliccompaniestoapplybothaccountingoversightandstringentinternalcontrols. 

12. 

Ownersofacorporationarecalledshareholdersorstockholders. 

13. 

Inthepartnershipformofbusiness,theownersarecalledstockholders. 

14. 

Asoleproprietorshipisoneormoreindividualssellingproductsorservicesforprofit. 

15. 

Accountinginformationiscommunicatedtovariouspartiesthroughfinancialstatements. 

16. 

TheFinancialAccountingStandardsBoardistheprivategroupthatsetsbothbroadandspecificaccountingprinciples. 

17. 

Thebusinessentityprinciplemeansthatabusinesswillcontinueoperatingforanindefiniteperiodoftime. 

18. 

Generallyacceptedaccountingprinciplesarethebasicassumptions,concepts,andguidelinesforpreparingfinancialstatements. 

19. 

Thebusinessentityprinciplemeansthatabusinessisaccountedforseparatelyfromotherbusinessentities,includingitsownerorowners. 

20. 

Asageneralrule,revenuesshouldnotberecognizedintheaccountingrecordsuntilitisreceivedincash. 

21. 

Specificaccountingprinciplesarebasicassumptions,concepts,andguidelinesforpreparingfinancialstatementsandariseoutoflong-usedaccountingpractice. 

22. 

Generalaccountingprinciplesarisefromlong-usedaccountingpractice. 

23. 

Asoleproprietorshipisabusinessownedbyoneormorepersons. 

24. 

Unlimitedliabilityisanadvantageofasoleproprietorship. 

25 

Understandinggenerallyacceptedaccountingprinciplesisnotnecessarytouseandinterpretfinancialstatements. 

26. 

TheInternationalAccountingStandardsboard（IASB）hastheauthoritytoimposeitsstandardsoncompaniesaroundtheworld. 

27. 

Theideathatabusinesswillcontinuetooperateuntilitcansellitsassetstopayitscreditorsunderliesthegoing-concernassumption. 

28. 

Alimitedliabilitycompanyoffersthelimitedliabilityofapartnershiporproprietorshipandthetaxtreatmentofacorporation. 

29. 

TheSecuritiesandExchangeCommission（SEC）isthegovernmentgroupthatestablishesreportingrequirementsforcompaniesthatissuestocktothepublic. 

30. 

TheSecuritiesandExchangeCommission（SEC）istheprivategroupthatsetsbothbroadandspecificaccountingstandards. 

31. 

Thethreecommonformsofbusinessownershipincludesoleproprietorship,partnership,andnon-profit. 

32. 

Thethreemajortypesofbusinessactivitiesareoperating,financing,andinvesting. 

33. 

Planningisdefininganorganization'

sideas,goals,andactions. 

45. 

Strategicmanagementistheprocessofdeterminingtherightmixofoperatingactivitiesforthetypeoforganization,itsplans,anditsmarkets. 

46. 

Planningactivitiesarethemeansanorganizationusestopayforresourceslikeland,buildings,andequipmenttocarryoutitsplans. 

ve:

C6

47. 

Thethreemajoractivitiesofabusinessarerecording,financing,andinvesting. 

48. 

Investingactivitiesaretheacquiringandsellingofresourcesthatanorganizationusestoacquireandsellitsproductsorservices. 

y

:

49. 

Ownerfinancingreferstoresourcescontributedbycreditorsorlenders. 

50. 

Revenuesareincreasesinequityfromacompany'

searningactivities. 

51. 

Anetlossoccurswhenrevenuesexceedexpenses. 

t

52. 

Netincomeoccurswhenrevenuesexceedexpenses. 

53. 

Expensesdecreaseequityandarethecostsofassetsorservicesusedtoearnrevenues. 

54. 

Liabilitiesaretheowner'

sclaimonassets. 

55. 

Assetsaretheresourcesownedorcontrolledbyabusiness. 

56. 

Withdrawalsareexpenses. 

57. 

Theaccountingequationcanberestatedas:

Assets-Equity=Liabilities. 

58. 

Theaccountingequationimpliesthat:

Assets+Liabilities=Equity. 

59. 

Thebalancesheetisalsocalledthestatementoffinancialpositionbecauseitdescribesthefinancialpositionofthebusinessatapointintime. 

60. 

Revenuesoccurwhenexpensesexceedassets. 

61. 

Acompanymightprovideaserviceorproductoncredit."

Oncredit"

impliesthatthecashpaymentwilloccuronalaterdate. 

62. 

Owner'

sinvestmentsaregrossincreasesinequityfromacompany'

searningsactivities. 

63. 

Thelegitimateclaimsofabusiness'

screditorstakeprecedenceovertheclaimsofthebusinessowner. 

l

64. 

Netincomeistheexcessofexpensesoverrevenues,whereasnetlossistheexcessofrevenuesoverexpenses. 

65. 

Everybusinesstransactionleavestheaccountingequationinbalance. 

66. 

Anexternaltransactionisanexchangeofvaluewithinanorganization. 

67. 

Fromanaccountingperspective,aneventisahappeningthataffectsanentity'

saccountingequation,butcannotbemeasured. 

68. 

sequityisincreasedwhencashisreceivedfromcustomersinpaymentofpreviouslyrecordedaccountsreceivable. 

69. 

Anowner'

sinvestmentinabusinessalwayscreatesanasset（cash）,aliability（notepayable）,andowner'

sequity（investment.） 

70. 

Netassetsalwaysincreasewhenrevenueisrecorded. 

71. 

Returnonassetsisoftenstatedinratioformastheamountofaveragetotalassetsdividedbyincome. 

72. 

Returnonassetsisalsoknownasreturnoninvestment. 

73. 

Returnonassetsisusefultodecisionmakersforevaluatingmanagement,analyzingandforecastingprofits,andinplanningactivities. 

74. 

Reebok'

snetincomeof$117millionandaverageassetsof$1,400millionresultsinareturnonassetsof8.36%. 

75. 

Returnonassetsmeasurestheeffectivenessofanorganization'

sabilitytogenerateprofitusingitsassets. 

A4

76. 

Riskistheamountofuncertaintyaboutthereturnweexpecttoearn. 

g

77. 

Generallythelowertherisk,thelowerthereturnthatcanbeexpected. 

78. 

U.S.GovernmentTreasurybondsprovidehighreturnandlowrisktoinvestors. 

79. 

Thefourbasicfinancialstatementsincludethebalancesheet,incomestatement,statementofowner'

sequity,andstatementofcashflows. 

80. 

Anincomestatementreportsoninvestingandfinancingactivities. 

81. 

Abalancesheetcoversaperiodoftimesuchasamonthoryear. 

82. 

Theincomestatementisafinancialstatementthatshowsrevenuesearnedandexpensesincurredduringaspecifiedperiodoftime. 

83. 

Thestatementofcashflowsshowstheneteffectofrevenuesandexpensesforareportingperiod. 

84. 

Theincomestatementshowsthefinancialpositionofabusinessonaspecificdate. 

85. 

Thefirstsectionoftheincomestatementreportscashfromoperations. 

86. 

Thebalancesheetisbasedontheaccountingequation. 

87. 

scontributionsandwithdrawalsarereportedontheincomestatement. 

88. 

Investingactivitiesinvolvethebuyingandsellingofassetssuchaslandandequipmentthatareheldforlong-termuseinthebusiness. 

89. 

Operatingactivitiesincludelong-termborrowingandrepayingcashfromlenders,andcashinvestmentsorwithdrawalsbytheowner. 

90. 

Thepurchaseofsuppliesappearsonthestatementofcashflowsasaninvestingactivitybecauseitinvolvesthepurchaseofassets. 

91. 

Theincomestatementreportsonoperatingactivitiesatapointintime. 

92. 

Thestatementofcashflowsreportsoncashflowsseparatedintooperating,investing,andfinancingactivitiesoveraperiodoftime. 

93. 

ChuckTaylorinvested$175,000cashinFastForward.Thisamountwouldbereportedinthestatementofcashflowsunderfinancing