ACC100考试题.doc

FACULTY OF COMMERCE GARCORP –JILIN UNIVERSITY OF FINANCE AND ECONOMICS AUTUMN SESSION EXAMINATION ACC100 ACCOUNTING? Part A Part B Total Marks Reviewer LECTURER: Lang Wei, Wang Guilian, Yao Rui, Xue Dongbo, Shi Yan, Wang Yanan, Liu Yuna DAY & DATE: TIME: WRITING TIME: 2 Hours READING TIME: 10 Minutes MATERIALS SUPPLIED BY UNIVERSITY: Nil MATERIALS PERMITTED IN EXAMINATION: Nil QUESTION STRUCTURE: Part A: multiple choices (20 marks) Part B: four questions (80 marks) INSTRUCTIONS TO CANDIDATES: 1. Enter your name and student number and sign in the space provided at the bottom of this page. 2. This is a closed book examination; therefore no written material, reference books or notes will be permitted into the examination room. 3. Write your answers in the Answer Booklets provided. Number each question clearly. This examination is worth 50% of the final assessment for this subject INSTRUCTIONS TO INVIGILATORS: The EXAMINATION paper must not be retained by the candidate. Marks Lecturer Reviewer PART A – MULTIPLE CHOICE (20marks) This part consists of twenty multiple choice questions. All questions must be attempted. 1. What organisation issues generally accepted accounting principles? ( ) A. Australian Taxation Office B. Australian Securities and Investment Commission C. Australian Accounting Standards Board D. Financial Reporting Council 2. What is the period assumption? ( ) A. a business will continue to operate for a long period of time B. the economic life of a business can be divided into artificial time periods C. the financial year should correspond with the calendar year D. none of the above 3. Jackson Ltd paid $42 000 for equipment with a fair market value of $46 000. Jackson Ltd should record equipment at: ( ) A. $42 000 B. $44 000 C. $46 000 D. either $42 000 or $46 000 4. Purchasing inventory for cash has the following dual effect on the accounting equation ( ) A. increases an asset and increases a liabi