Debts owed by a business are referred to as( )
A accounts receivables
B equities
C owner’s equity
D liabilities
答案是： liabilities
When the corporation issuing the bonds has the right to repurchase the bonds prior to the
maturity date for a specific price, the bonds are ( )
A convertible bonds
B unsecured bonds
C debenture bonds
D callable bonds
答案是： callable bonds
The matching concept( )
A addresses the relationship between the journal and the balance sheet
B determines whether the normal balance of an account is a debit or credit
C requires that the dollar amount of debits equal the dollar amount of credits on a trial
balance
D determines that expenses related to revenue be reported at the same time the
revenue is reported
答案是： determines that expenses related to revenue be reported at the same time the
revenue is reported
Expenses are reported on the( )
A income statement
B statement of owner's equity
C statement of cash flows
D balance sheet
答案是： income statement
Cash investments made by the owner to the business are reported on the statement of cash
flows in the
A financing activities section
B investing activities section
C operating activities section
D supplemental statement
答案是： financing activities section
The income statement is prepared from( )
A the adjusted trial balance.
B the income statement columns of the work sheet.
C either the adjusted trial balance or the income statement columns of the work sheet.
D both the adjusted trial balance and the income statement columns of the work sheet.
答案是： either the adjusted trial balance or the income statement columns of the work sheet.
If the allowance method of accounting for uncollectible receivables is used, what general
ledger account is credited to write off a customer's account as uncollectible?
A Uncollectible Accounts Expense
B Accounts Receivable
C Allowance for Doubtful Accounts
D Interest Expense
答案是： Accounts Receivable
The method of accounting for investments in equity securities in which the investor records
its share of periodic net income of the investee is the ( )
A cost method
B market method
C income method
D equity method
答案是： equity method
The most widely used depreciation method is
A straight-line
B sum-of-the-years-digits
C declining-balance
D units-of-production
答案是： straight-line
In the accounting cycle, the last step is( )
A preparing the financial statements
B journalizing and posting the adjusting entries
C preparing a post-closing trial balance
D journalizing and posting the closing entries
答案是： preparing a post-closing trial balance
On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to
the （ ）
A Uncollectible accounts expense for the year
B total of the accounts receivables written-off during the year
C total estimated uncollectible accounts as of the end of the year
D sum of all accounts that are past due.
答案是： total estimated uncollectible accounts as of the end of the year
When the market rate of interest on bonds is higher than the contract rate, the bonds will sell
at ( )
A a premium
B their face value
C their maturity value
D a discount
答案是： a discount
Low Company owns 40% of the voting stock of High Corporation and uses the equity method
in recording this investment. High Corporation reported a $10,000 net loss. Low
Corporation's entry would include a ( )
A Debit to the investment account for $10,000
B Debit to the investment account for $4,000
C Credit to the investment account for $4,000
D Debit to a loss account for $4,000
答案是： Credit to the investment account for $4,000
If the two totals of a trial balance are not equal, it could be due to
A an error in determining the account balances, such as a balance being incorrectly
computed
B recording the same transaction more than once
C failure to record a transaction
