《会计学原理》英文版考试复习练习(14章).pdfVIP

1.Accountingisaninformationsystemthat:

A.Identifiesbusinessactivities.

B.Recordsbusinessactivities.

C.Communicatesbusinessactivities.

D.Helpspeoplemakebetterdecisions.

E.Allofthese.

2.Creditorsclaimsontheassetsofacompanyarecalled:

A.Netlosses.

B.Expenses.

C.Revenues.

D.Equity.

E.Liabilities.

3.Theexcessofexpensesoverrevenuesforaperiodis:

A.Netassets.

B.Equity.

C.Netloss.

D.Netincome.

E.Aliability.

4.OnJune30ofthecurrentyear,theassetsandliabilitiesofPhoenixPhildellareasfollows:

Cash$20,500;AccountsReceivable,$7,250;Supplies,$650;Equipment,$12,000;Accounts

Payable,$9,300.WhatistheamountofownersequityasofJuly1ofthecurrentyear?

A.$8,300

B.$13,050

C.$20,500

D.$31,100

5.PhotometerCompanypaidoff$30,000ofitsaccountspayableincash.Whatwouldbethe

effectsofthistransactionontheaccountingequation?

A.Assets,$30,000increase;liabilities,noeffect;equity,$30,000increase.

B.Assets,$30,000decrease;liabilities,$30,000decrease;equity,noeffect.

C.Assets,$30,000decrease;liabilities,$30,000increase;equity,noeffect.

D.Assets,noeffect;liabilities,$30,000decrease;equity,$30,000increase.

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E.Assets,$30,000decrease;liabilities,noeffect;equity$30,000decrease.

6.Thefinancialstatementthatreportswhetherthebusinessearnedaprofitandalsoliststhe

typesandamountsoftherevenuesandexpensesiscalled:

A.ABalanceSheet.

B.AStatementofOwnersEquity.

C.AStatementofCashFlows.

D.AnIncomeStatement.

E.AStatementofFinancialPosition.

7.Abalancesheetlists:

A.Thetypesandamountsoftherevenuesandexpensesofabusiness.

B.Onlytheinformationaboutwhathappenedtoequityduringatimeperiod.

C.Thetypesandamountsofassets,liabilities,andequityofabusinessasofaspecificdate.

D.Theinfl