专业英语练习题.doc

1.?The accounting concept that requires financial statement information to be supported by independent, unbiased evidence other than someones belief or opinion is:?A.?Business entity assumption.B.?Monetary unit assumption.C.?Going-concern assumption.D.?Time-period assumption.E.?Objectivity 2.?The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the:?A.?Going-concern assumption.B.?Business entity assumption.C.?Objectivity principle.D.?Cost Principle.E.?Monetary unit assumption. 3.?If a parcel of land that was originally acquired for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000, the land should be recorded in the purchasers books at:?A.?$95,000.B.?$137,000.C.?$138,500.D.?$140,000.E.?$150,000. ?To include the personal assets and transactions of a businesss owner in the records and reports of the business would be in conflict with the:?A.?Objectivity principle.B.?Monetary unit assumption.C.?Business entity assumption.D.?Going-concern assumption.E.?Revenue recognition principle. 5.?If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000, the land account transaction amount to handle the sale of the land in the sellers books is:?A.?$85,000 increase.B.?$85,000 decrease.C.?$137,000 increase.D.?$137,000 decrease.E.?$140,000 decrease. ? ?If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. What is the effect of the sale on the accounting equatio