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本课程起止时间为:2020-03-02到2020-07-03
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Module 1 Accounting Fundamentals (1) Exercises 1

1、 问题:Which assumption assumes a business entity will continues its operation, at least till nest accounting period
选项：
A:Business entity assumption
B:Going concern assumption
C:Time period assumption
D:Monetary unit assumption
答案: 【Going concern assumption】

2、 问题:which assumption assumes a business entity consists of a series of same length of time, such as a month, a quarter, a half year or one year
选项：
A:Business entity assumption
B:Going concern assumption
C:Time period assumption
D:Monetary unit assumption
答案: 【Time period assumption】

3、 问题:(    ) specifies the scope of space in accounting work.
选项：
A:Business entity assumption
B:Monetary unit assumption
C:Time period assumption
D:Going concern assumption
答案: 【Business entity assumption】

4、 问题:GAAP specifies useful information, especially the criteria of useful accounting information, they are (  )
选项：
A:Relevant
B:Reliable
C:Comparable
D:Importance
答案: 【Relevant;
Reliable;
Comparable】

5、 问题:What are the purposes of accounting?
选项：
A:Accounting describes business activities of an organization
B:Accounting provides information for everyone
C:Accounting provides information for specific users
D:Accounting measures business performance in numbers
答案: 【Accounting describes business activities of an organization;
Accounting provides information for specific users;
Accounting measures business performance in numbers】

6、 问题:Managerial accounting targets external users of accounting information while financial accounting targets internal users of accounting information
选项：
A:正确
B:错误
答案: 【错误】

7、 问题:Accounting information of a user must be comparable to those companies in the same market.
选项：
A:正确
B:错误
答案: 【正确】

Module 1 Accounting Fundamentals (1) Exercises 2

1、 问题:Accounting is an information and measurement system that does all of the following except__.
选项：
A:identifies business activities
B:records business activities
C:communicates business activities
D:does not use technology to improve accuracy in reporting
E:helps people make better decisions
答案: 【does not use technology to improve accuracy in reporting】

2、 问题:The primary objective of financial accounting is____.
选项：
A:to serve the decision-making needs of internal users
B:to provide financial statements to help external users analyze an organization’s activities
C:to monitor and control company activities
D:to provide information on both the costs and benefits of looking after products and services
E:to know what, when, and how much to produce
答案: 【to provide financial statements to help external users analyze an organization’s activities】

3、 问题:The accounting assumption that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the_____.
选项：
A:time-period assumption
B:business entity assumption
C:going-concern assumption
D:revenue recognition principle
E:cost principle
答案: 【business entity assumption】

4、 问题:The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the______.
选项：
A:monetary unit assumption
B:business entity assumption
C:going-concern assumption
D:objectivity principle
E:cost principle
答案: 【going-concern assumption】

5、 问题:The accounting principle that requires accounting information to be based on actual cost and requires assets and services to be recorded initially at the cash or cash-equivalent amount given in exchange, is the____.
选项：
A:accounting equation
B:cost principle
C:going-concern assumption
D:realization principle
E:business entity assumption
答案: 【cost principle】

6、 问题:Assets created by selling goods and services on credit are_______.
选项：
A:accounts payable
B:accounts receivable
C:liabilities
D:expenses
E:equity
答案: 【accounts receivable】

7、 问题:Creditors’ claims on the assets of a company are called______.
选项：
A:net losses
B:expenses
C:revenues
D:equity
E:liabilities
答案: 【liabilities】

8、 问题:The difference between a company’s assets and its liabilities, or net assets is______.
选项：
A:net income
B:expense
C:equity
D:revenue
E:net loss
答案: 【equity】

9、 问题: If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. What is the effect of the sale on the accounting equation for the seller? 
选项：
A:Assets increase $52,000; owner’s equity increases $52,000.
B:Assets increase $85,000; owner’s equity increases $85,000.
C:Assets increase $137,000; owner’s equity increases $137,000.
D:Assets increase $140,000; owner’s equity increases $140,000.
E:Assets decrease $85,000; owner’s equity decreases $85,000.
答案: 【Assets increase $52,000; owner’s equity increases $52,000.】

10、 问题:Net Income____.
选项：
A:decreases equity
B:represents the amount of assets owners put into a business
C:equals assets minus liabilities
D:is the excess of revenues over expenses
E:represents owners’ claims against assets
答案: 【is the excess of revenues over expenses】

11、 问题: Decreases in equity that represent costs of assets or services used to earn revenues are called___.
选项：
A:liabilities
B:equity
C:withdrawals
D:expenses
E:owner’s ivestment
答案: 【expenses】

12、 问题:The statement of owner’s equity___.
选项：
A:reports how equity changes at a point in time
B:reports how equity changes over a period of time
C:reports on cash flows for operating, financing, and investing activities over a period of time
D:reports on cash flows for operating, financing, and investing activities at a point in time
E:reports on amounts for assets, liabilities, and equity at a point in time
答案: 【reports how equity changes over a period of time】

13、 问题:The financial statement that shows the beginning balance of owner’s equity; the changes in equity that resulted from new investments by the owner, net income (or net loss); withdrawals; and the ending balance, is the_______.
选项：
A:statement of financial position
B:statement of cash flows
C:balance sheet
D:income statement
E:statement of owner’s equity
答案: 【statement of owner’s equity】

14、 问题: A balance sheet lists___.
选项：
A:the types and amounts of the revenues and expenses of a business
B:Only the information about what happened to equity during a time period
C:the types and amounts of assets, liabilities, and equity of a business as of a specific date
D:the inflows and outflows of cash during the period
E:the assets and liabilities of a company but not the owner’s equity

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