会计英文习题.docVIP

TRUE-FALSE STATEMENTS 1. Investors and creditors of business firms are two groups who need accounting information. 2. Transactions that can be measured in dollars and cents are recorded in the financial accounting information system. 3. The purchase of office equipment is an economic event recorded by the financial accounting information system. 4. Management of a business enterprise is the major external user of information. 5. Accounting communicates financial information about a business enterprise to both internal and external users. 6. External users of financial statements include labor unions, management and regulatory agencies. 7. Financial statements are the major means of communicating accounting information to interested parties. 8. Bookkeeping and accounting are one and the same because the bookkeeping function includes the accounting process. 9. The origins of accounting are attributed to Leonardo DiVinci, a famous mathematician. 10. The study of accounting will be useful only if a student is interested in working for a corporation. 11. Private accountants are accountants who are not employees of business enterprises. 12. The study of accounting is not useful for a business career unless your career objective is to become an accountant. 13. A working knowledge of accounting is not relevant to an administrator in a not-for-profit enterprise. 14. Expressing an opinion as to the fairness of the information presented in financial statements is a service performed by CPAs. 15. Accountants rely on a fundamental business concept—ethical behavior—in reporting financial information. 16. A principle becomes generally accepted only when both the Financial Accounting Standards Board and the Securities and Exchange Commission vote in favor of it. 17. The Financial Accounting Standards Board is a government agency. 18. The Securities and Exchange Commission has the power to require companies filing reports with them to follow generally accepted acco