有关会计英语的题目,希望得到大家的指教.Selectthebestanswerforeachofthefollowingquestionsoruncompletedsentences.1.InFranCo.,endinginventoryisunderstatedby$4000,theeffectsofthiserroronthecurrentyear’scost

Question

有关会计英语的题目,希望得到大家的指教.
Select the best answer for each of the following questions or uncompleted sentences.
1.In Fran Co.,ending inventory is understated by $4000,the effects of this error on the current year’s cost of goods sold and net income respectively are ______
A.understated,overstated;
B.overstated,understated
C.overstated,overstated
D.understated,understated
2.The time period for classifying a liability as current is within one year or the operating cycle whichever is ____
a.longer
b.shorter
c.possible
3.ABC Co.borrows $88,500 on September 1,2000 from the Bank by signing an $88,500,6% note,due Sept.1,2001.What is the accrued interest on December 31,2000?
a.$1,760
b.$1,770
c.$1,328
d.$5,310
4.Sales total $440,000,Cost of Goods Sold is $210,000,and operating expenses are $160,000.How much is Gross Margin?
a.$440,000
b.$210,000
c.$230,000
d.$70,000
5.Which of the following is not an account?
a.sales revenue
b.inventory
c.net sales
d.supplies expense
6.( ) is the basis for recording expenses.
a.Revenue principle
b.Matching principle
c.Time period concept
d.the accounting period
7.( ) is a category of miscellaneous assets that typically expire or are used up in the near future
a.Prepaid expense
b.Accrued Expense
c.Depreciation expense
d.Rent Expense
8.Which of the following accounts is a contra account?
a.Fixed assets
b.Prepaid Expenses
c.Accumulated Depreciation
d.Sales Revenue
True-False
1)When special journals are used,the more the transactions that are involved,the greater the savings in posting time.
2)Declaration of dividends reduces the retained earnings portion of the owners’ equity of the corporation and creates a liability called Dividends Payable.
3)Financial position can best be determined by referring to the income statement.
4)The net income for a period in the income statement will increase the balance of owners’ equity.
5)Working capital equals quick assets less quick liabilities.
6)Accounting provides financial information that is only useful to business management.
7)Accounting information is also needed by labor unions.
8)Accountant is another word of accounting.
9)Financial accounting can also be called managerial accounting.
10)An accounting period is the same as a calendar year.

Answer 1

1.B题意中年末存货成本低估4000,则当年销货成本（等于年初成本+本年购入成本-年末成本）就会高估4000,当年净收入就会低估4000.因此选B2.A前者划分流动负债低于一年,后者按照经营周期划分通常会长一些.3.C题意中2000...