会计专业英语期末考试练习卷.doc

1. The economic resources of a business are called: B
A. Owner’s Equity
B. Assets
C. Accounting equation
D. Liabilities
2. DTK Company has a $3500 accounts receivable from GRS Company. On January 20, GRS Company makes a partial payment of $2100 to DTK Company. The journal entry made on January 20 by DTK Company to record this transaction includes: D
A. A debit to the cash receivable account of $2100.
B. A credit to the accounts receivable account of $2100.
C. A debit to the cash account of $1400.
D. A debit to the accounts receivable account of $1400.
3. In general terms, financial assets appear in the balance sheet at: A
A. Face value.账面价值
B. Current value.现值
C. Market value.市场价值
D. Estimated future sales value.
4. Each of the following measures strengthens internal control over cash receipts except: D
A. The use of a voucher system.
B. Preparation of a daily listing of all checks received through the mail.
C. The deposit of cash receipts intact in the bank on a daily basis.
D. The use of cash registers.
5. Which of the following items is the greatest in dollar amount? D
A. Beginning inventory
B. Cost of goods sold.
C. Cost of goods available for sale
D. Ending inventory
6.Why do companies prefer the LIFO inventory后进先出法 method during a period of rising prices? B
A. Higher reported income
B. Lower income taxes
C. Lower reported income
D. Higher ending inventory
7. Which of the following characteristics would prevent an item from being included in the classification of plant and equipment? D
A. Intangible
B. Unlimited life
C. Being sold in its useful life
D. Not capable of rendering benefits to the business in the future.
8. Which account is not a contra-asset account? B
A. Depreciation Expense
B. Accumulated Depletion
C. Accumulated Depreciation
D. Allowance for Doubtful Accounts
9. What are the two factors that make ownership of an interest in a general partnership particularly risky? A
A. Mutual agency and unlimited personal liability
B. Limited life and unlimited personal liability.
C. Limited life and mutual agency.
D. Double taxation and mutual agency
10. Which of the following types of business owners do not take an active role in the daily management of the business? D
A. General partners
B. Limited liability partners
C. Sole proprietors 个体经营者
D. Stockholders in a publicly owned corporation
11. Analysts can use the footnotes to the financial statements to D
A. Help their analysis of financial statements
B. Help their understanding of financial statements
C. Help their checking of financial statements.
D. All of the above
12. The current liabilities are $30 000, the long-term liabilities are $50 000, and the total assets are $240 000. What is the debt ratio? C
A. 0.125
B. 0.208
C. 0.333
D. 3.0
13. The horizontal analysis is used mainly to A
A. Analyzing financial trends
B. Evaluating financial structure
C. Assessing the pat performances
D. Measuring the term-paying ability
14. Among the following ratios, which is used for long-term solvency analysis?长期偿债能力分析 A
A. Current ratio 流动比率
B. Times-interest-earned ratio
C. Operating cycle
D. Book value per share
15. A profit-making business that is a separate legal entity and in which ownership is divided into shares of stock is known as a D
A. Sole proprietorship 个体独资公司
B. Single proprietorship
C. Partnership 合伙公司
D. Corporation 股份有限公司

一、 名词解释(10分)
(1) Journal entry：日记账Journal entry is a logging of transactions into accounting journal items. It can consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be "unbalanced". Journal entries can record unique items or recurring items such as depreciation or bond amortization.
(2) Going concern：持续经营 The company will continue to operate in the near future, unless substantial evidence to the contrary exists.
(3) Matching principle：一致性原则
(4) Working capital：营运资金
(5) Revenue expenditure：收入费用
二、 会计业务（共35分）
1. On December 1, ME Company borrowed $250 000 from a bank, and promise to repay that amount plus 12% interest (per year) at the end of 6 months.
(1) Prepare the general journal entry to record obtaining the loan from the bank on December 1.
(2) Prepare the adjusting journal entry to record accrual of the interest payable on the loan on December 31.
(3) Prepare the presentation of the liability to the bank on ME’s December balance sheet.

Answer:
(1) Debit: cash $250000
Credit: current liabilities $250000
(2) Debit: Accrual Expense $5000 不拟定
Credit: Interest Payable $5000
(3) P39
2. The following information relating to the bank checking account is available for Music Hall at July 31:
Balance per bank statement at July 31
$20 0000
Balance per depositor’s records
18 860
Outstanding checks
2 000
Deposits in transit
800
Service charge by bank
60
Prepare a bank reconciliation银行对账工作 fro Music Hall at July 31.
Answer:P42

3. Please prepare the related entries according to the following accounting events.
1) Assume the Healy Furniture has credit sale of $1,200,000 in . Of this amount, $200,000 remains uncollected at December 31. The credit manager estimates that $12,000 of these sales will be uncollectible. Please prepare the adjusting entry to record the estimated uncollectible.
2) On March 1, the manager of finance of Healy Furniture authorizes a write-off of the $500 balance owed by Nick Company. Please make the entry to record the write-off.
3) On July 1, Nick Company paid the $500 amount that had been written off on March 1.
Answer:
(1) Debit: Uncollectible Accounts Expense坏账损失 $1
Credit: Allowance for Doubtful Accounts坏账准备 $1
(2) Debit: Allowance for Doubtful Accounts $500
Credit: Accounts Receivable $500
(3) Debit: Accounts Receivable $500
Credit: Allowance for Doubtful Accounts $500
Debit: Cash $500
Credit: Accounts Receivable $500
四、英译汉 （40分）
(1) Accounting principles are not like physical laws; they do not exist in nature, awaiting discovery man. Rather, they are developed by man, in light of what we consider to be the most important objectives of financial reporting. In many ways generally accepted accounting principles are similar to the rules established for an organized sport such as football or basketball.
会计准则不像自然法则那样天生就存在等待人类去摸索。会计准则需要人类在财务报告最重要目旳旳指引下去不断发展。诸多时候我们觉得会计准则就像一场组织运动旳规则（例如足球或篮球旳规则）
(2) Accounting have devised procedures whereby the flows of cash receipts and payments are spread over a period of time in a certain way to derive income, which is representative of the economic performance of the firm for the given period. The income concept as applied in the real world involves numerous decisions and judgments.
会计有特定旳流程。在这个流程中钞票收支在一定期间内通过某些特定方式流入流出并产生收入。收入代表一种公司在某一时间段旳经济效益。收入这个概念在现实世界中涉及着大量决策和评判。
（3）Accounting is an information system of interpreting, recording, measuring, classifying, summarizing, reporting and describing business economic activities with monetary unit as its main criterion. The accounting information is primarily supplied to owners, managers and investors of every business, and other users to assist in the decision-making process. Therefore, accounting is also called “the language of business”.
会计是一种翻译、记录、计量、认定、总结、报告和用钞票作为重要原则来衡量公司经济活动旳信息系统。会计信息重要提供应公司所有者、经营者、投资者和其他使用者以协助他们决策。因此，会计又被称为“公司旳语言”。
（4）The use of accounting information is not limited to the business world. We live in an ear of accountability. An individual must account for his or her income and must file income tax returns. Often an individual must supply personal accounting information in order to qualify for a loan, to obtain a credit card, or to be eligible for a college scholarship.
会计信息旳运用并不限于商业界。会计在我们生活中无处不在。个人需要记录他旳收入并整顿他旳纳税申报表。当一种需要申请贷款、信用卡或奖学金时，他一般需要提供个人会计信息来获得申请资格。