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财务会计题库 Transaction Analysis
Financial Accounting, 7e
Harrison/Horngren
Test Item File
Chapter 2: Transaction Analysis
2.1-1 A journal entry is an event that has a financial impact on the business that can be reliably measured.
Answer: False LO: 2-1 Diff: 2 EOC: S2-5
2.1-2 The trial balance is a NOT a formal accounting statement.
Answer: True LO: 2-1 Diff: 1 EOC: S2-25
2.1-3 Accrued Liabilities is a liability account.
Answer: True LO: 2-1 Diff: 1 EOC: E2-28
2.1-4 The retained earnings account represents the excess of net income over dividends retained in the business since its inception.
Answer: True LO: 2-1 Diff: 1 EOC: P2-50A
2.1-5 Expense accounts always represent expired assets.
Answer: False LO: 2-1 Diff: 2 EOC: E2-11
2.1-6 The dividends account indicates an increase in common stock.
Answer: False LO: 2-1 Diff: 2 EOC: E2-15
2.1-7 Double-entry accounting records only those transactions affecting the income statement.
Answer: False LO: 2-1 Diff: 2 EOC: QC 8
2.1-8 The purchase of office equipment for cash would increase both an asset and a liability account.
Answer: False LO: 2-1 Diff: 2 EOC: P2-49A
2.1-9 Which of the following is NOT an asset account?
A. Accounts Receivable
Prepaid Rent
C. Common Stock
D. All of these are asset accounts.
Answer: C LO: 2-1 Diff: 2 EOC: P2-49A
2.1-10 Prepaid expense accounts appear on:
A. the income statement.
B. the balance sheet.
C. the statement of retained earnings and on the income statement.
D. both the income statement and balance sheet.
Answer: B LO: 2-1 Diff: 2 EOC: P2-56A
2.1-11 The term double-entry accounting indicates that the accountant:
A. records both sides of each transaction in the accounts affected.
B. computes the income statement and balance sheet effect of each transaction.
C. identifies both the cash inflows and the cash outflows.
D. uses both the general journal and the general ledger when recording transactions.
Answer: A LO: 2-1 Diff: 2 EOC: QC 8
2.1-12 A company received cash in exchang
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