2020 Financial Accounting(浙江师范大学)1450768579 最新满分章节测试答案

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本课程起止时间为:2020-04-17到2020-07-31
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【作业】Chapter 3 Adjusting Process Homework-Chapter 3 Ajusting process

1、 问题:On
12/1/13, FastForward paid $2,400 for insurance for 2-years (24-months, December
2013 through November 2015).FastForward recorded the expenditure as Prepaid
Insurance on 12/1/13. What adjustment entry is required on December 31, 2013?
评分规则: 【 2,400/24=$100 per month（2分，如果过程正确结果错误得1分）Insurance Expenses   100Prepaid Insurance     100（3分，如果分录的科目正确，金额错误得1分）
】

2、 问题:FastForward’s
employee has earned but not been paid on December 31, 2013, $210. Please make
the adjustment entry for FastForward on December 31, 2013.
评分规则: 【 Salaries expense   210  Salaries payable     210（正确得5分）
】

3、 问题:On
December 12, 2013, FastForward agrees to render consulting services under a
30-day fixed fee contract for $2,700 ($90 per day). Please make the adjustment entry
for accrued service revenue on December 31, 2013.
评分规则: 【 20×90=$1,800Accounts Receivable  1,800  Consulting revenue      1,800（正确得5分）
】

4、 问题:A company earned $2,000 in net income for
October. Its net sales for October were $10,000. To compute profit margin.
评分规则: 【 Profit Margin = Net Income/Net SalesProfit Margin = $2,000/$10,000 = 0.20 = 20%（5分，如果过程正确结果错误的4分）
】

Chapter 3 Adjusting Process Quiz-Chapter 3 Ajusting process

1、 问题:Adjusting entries:
选项：
A:Affect only income
statement accounts.
B:Affect only balance
sheet accounts.
C:Affect both income
statement and balance sheet accounts.
D:Affect only cash flow
statement accounts.
E:Affect only equity
accounts.
答案: 【Affect both income
statement and balance sheet accounts.】

2、 问题:The system of
preparing financial statements based on recognizing revenues when the cash is
received and reporting expenses when the cash is paid is called: 
选项：
A:Accrual basis
accounting.
B:Operating cycle
accounting.
C:Cash basis
accounting.
D:Revenue recognition
accounting.
E:Current basis
accounting.
答案: 【Cash basis
accounting.】

3、 问题:Adjusting entries
made at the end of an accounting period accomplish all of the following except: 
选项：
A:Updating liability
and asset accounts to their proper balances.
B:Assigning revenues to
the periods in which they are earned.
C:Assigning expenses to
the periods in which they are incurred.
D:Assuring that
financial statements reflect the revenues earned and the expenses incurred.
E:Assuring that
external transaction amounts remain unchanged.
答案: 【Assuring that
external transaction amounts remain unchanged.】

4、 问题:The approach to
preparing financial statements based on recognizing revenues when they are
earned and matching expenses to those revenues is:
选项：
A: Cash basis
accounting.
B:The matching principle.
C:The time period assumption.
D:Accrual basis
accounting.
E:Revenue basis accounting.
答案: 【Accrual basis
accounting.】

5、 问题: Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of: 
选项：
A:Items that require
contra accounts.
B:Items that require
adjusting entries.
C:Asset and equity.
D:Asset accounts.
E:Income statement
accounts.
答案: 【Items that require
adjusting entries.】

6、 问题:The accrual basis of
accounting:
选项：
A: Is generally accepted for external reporting because it is more useful than cash basis for most business decisions.
B:Is flawed because it gives complete information about cash flows.
C:Recognizes revenues
when received in cash.
D: Recognizes expenses when paid in cash.
E:Eliminates the need
for adjusting entries at the end of each period.
答案: 【 Is generally accepted for external reporting because it is more useful than cash basis for most business decisions.】

7、 问题:Which of the
following statements is incorrect? 
选项：
A:Adjustments to
prepaid expenses, depreciation, and unearned revenues involve previously
recorded assets and liabilities.
B: Accrued
expenses and accrued revenues involve assets and liabilities that had not
previously been recorded.
C:Adjusting entries can
be used to record both accrued expenses and accrued revenues.
D:Prepaid expenses,
depreciation, and unearned revenues often require adjusting entries to record
the effects of the passage of time.
E:Adjusting entries
affect the cash account.
答案: 【Adjusting entries
affect the cash account.】

8、 问题:Profit margin is
defined as:
选项：
A:Revenues divided by net sales.
B:Net sales divided by
assets.
C:Net income divided by
net sales.
D:Net income divided by
assets.
E:Net sales divided by net income.
答案: 【Net income divided by
net sales.】

9、 问题: A trial balance prepared after adjustments have been recorded is called a(n) : 
选项：
A:Balance sheet.
B:Adjusted trial balance.
C:Unadjusted trial
balance.
D:Classified balance
sheet.
E:Unclassified balance
sheet.
答案: 【Adjusted trial balance.】

10、 问题:Financial statements
are typically prepared in the following order: 
选项：
A:Balance sheet,
statement of owner’s equity, income statement.
B:Statement of owner’s equity, balance sheet, income statement.
C:Income statement,
balance sheet, statement of owner’s equity.
D:Income statement, statement of owner’s equity, balance sheet.
E:Balance sheet, income
statement, statement of owner’s equity.
答案: 【Income statement, statement of owner’s equity, balance sheet.】

11、 问题:The time period assumption assumes that an organization’s activities can be divided into specific time periods.
选项：
A:正确
B:错误
答案: 【正确】

12、 问题:Interim statements report a company’s business activities for a one-year period.
选项：
A:正确
B:错误

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