中级财务会计英选择题判断题.doc

第一章1.Financial accounting is the process of identifying, measuring, analyzing, and communicating financial information needed by management to plan, evaluate, and control an organiza-tions operations.5.Financial reports in the early 21st century did not provide any information about a companys soft assets.7.While objectives for financial reporting exist on an informal basis, no formal objectives have been adopted.3.Users of the financial information provided by a company use that information to make capital allocation decisions.15.FASB Technical Bulletins are more authoritative than FASB Standards and Interpretations.33.What is a major objective of financial reporting?a.Provide information that is useful to management in making decisions.b.Provide information that clearly portray nonfinancial transactions.c.Provide information that is useful to assess the amounts, timing, and uncertainty of perspective cash receipts.d.Provide information that excludes claims to the resources.34.What is a major objective of financial reporting?a.Provide information that is useful to the Internal Revenue Service in determining the amount of federal income taxes payable.b.Provide information that is useful in assessing the amounts and timing of revenue.c.Provide information that is comprehensible only by sophisticated investors.d.Provide information that clearly portrays the economic resources of an enterprise.35.Which of the following statements is not an objective of financial reporting?a.Provide information that is useful in investment and credit decisions.b.Provide information about enterprise resources, claims to those resources, and changes to them.c.Provide information on the liquidation value of an enterprise.d.Provide information that is useful in assessing cash flow prospects.37. One objective of financial reporting is to providea.information about the investors in the business entity.b.information about the liquidation values of the resources held by the enterprise.c.information that is useful in assessing cash flow prospects.d.information that will attract new investors.41.What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States?a.The SEC requires all companies listed on an exchange to submit their financial statements to the SEC.b.The SEC coordinates with the AICPA in establishing accounting standards.c.The SEC has a mandate to establish accounting standards for enterprises under its jurisdiction.d.The SEC reviews financial statements for compliance.42.What is due process in the context of standard setting at the FASB?a.FASB operates in full view of the public.b.Public hearings are held on proposed accounting standards.c.Interested parties can make their views known.d.All of the above.43.Which of the following organizations has been responsible for setting U.S. accounting standards?a.Accounting Principles Board.b.Committee on Accounting Procedure.c.Financial Accounting Standards Board.d.All of the above.44.Why did the AICPA create the Accounting Principles Board?a.The SEC disbanded the previous standard setting organization.b.The previous standard setting organization did not provide a structured set of accounting principles.c.No such organization existed in the past.d.None of the above.45.Which organization was responsible for issuing Accounting Research Bulletins?a.Accounting Principles Board.b.Committee on Accounting Procedure.c.The SEC.d.AICPA.51.Which organization is responsible for issuing Emerging Issues Task Force Statements?a.FASBb.CAPc.APBd.SEC65.Which of the following organizations has not been instrumental in the development of financial accounting standards in the United States?a.AICPAb.FASBc.IASBd.SEC66.An organization that has not published accounting standards is thea.American Institute of Certified Public Accountants.b.Securities and Exchange Commission.c.Financial Accounting Standards Board.d.All of these have published accounting standards.第二章重点部分2.A conceptual framework is a coherent system of interrelated objectives and fundamentals that can lead to consistent standards.5.Although the FASB intends to develop a conceptual framework, no Statements of Financial Accounting Concepts have been issued to date.12.Revenues, gains, and distributions to owners all increase equity.45.Accounting information is considered to be relevant when ita.can be depended on to represent the economic conditions and events that it is intended to represent.b.is capable of making a difference in a decision.c.is understandable by reasonably informed users of accounting information.d.is verifiable and neutral.48.According to Statement of Financial Accounting Concepts No. 2, timeliness is an ingredient of the primary quality ofRelevanceReliabilitya.YesYesb.NoYesc.YesNod.NoNo49.According to Statement of Financial Accounting Concepts No. 2, verifiability is an ingredient of the primary quality ofRelevanceReliabilitya.YesNob.YesYesc.NoNod.NoYes50.According to Statement of Financial Accounting Concepts No. 2, neutrality is an ingredient of the primary quality ofRelevanceReliabilitya.YesYesb.NoYesc.YesNod.NoNo53.According to Statement of Financial Accounting Concepts No. 2, predictive value is an ingredient of the primary quality ofRelevanceReliabilitya.YesNob.YesYesc.NoNod.NoYes54.Under Statement of Financial Accounting Concepts No. 2, representational faithfulness is an ingredient of the primary quality ofReliabilityRelevancea.YesYesb.NoYesc.YesNod.NoNo122.Trade-offs between the characteristics that make information useful may be necessary or beneficial. Issuance of interim financial statements is an example of a trade-off betweena.relevance and reliability.b.reliability and periodicity.c.timeliness and materiality.d.understandability and timeliness.123.Allowing firms to estimate rather than physically count inventory at interim (quarterly) periods is an example of a trade-off betweena.verifiability and reliability.b.reliability and comparability.c.timeliness and verifiability.d.neutrality and consistency.第二章非特殊重点部分8.Relevance and reliability are the two primary qualities that make accounting information useful for decision making.10.Timeliness and neutrality are two ingredients of relevance.11.Verifiability and predictive value are two ingredients of reliability.26.In the conceptual framework for financial reporting, what provides the why-the goals and purposes of accounting?a.Measurement and recognition concepts such as assumptions, principles, and constraintsb.Qualitative characteristics of accounting informationc.Elements of financial statementsd.Objectives of financial reporting32.Which of the following is a primary characteristic of useful accounting information?a.Comparability.b.Relevance.c.Consistency.d.Materiality.33.Which of the following is a primary characteristic of useful accounting information?a.Conservatism.b.Comparability.c.Reliability.d.Consistency.38.Changing the method of inventory valuation should be reported in the financial statements under what qualitative characteristic of accounting information?a.Consistency.b.Verifiability.c.Timeliness.d.Comparability.40.What is the quality of information that enables users to better forecast future operations?a.Reliability.b.Materiality.c.Comparability.d.Relevance.51.Information is neutral if ita.provides benefits which are at least equal to the costs of its preparation.b.can be compared with similar information about an enterprise at other points in time.c.would have no impact on a decision maker.d.is free from bias toward a predetermined result.52.The characteristic that is demonstrated when a high degree of consensus can be secured among independent measurers using the same measurement methods isa.relevance.b.reliability.c.verifiability.d.neutrality.58.When information about two different enterprises has been prepared and presented in a similar manner, the information exhibits the characteristic ofa.relevance.b.reliability.c.consistency.d.none of these.47.According to Statement of Financial Accounting Concepts No. 2, which of the following relates to both relevance and reliability?a.Materialityb.Understandabilityc.Usefulnessd.All of these79.Preparation of consolidated financial statements when a parent-subsidiary relationship exists is an example of thea.economic entity assumption.b.relevance parability characteristic.d.neutrality characteristic.81.What accounting concept justifies the usage of accruals and deferrals?a.Going concern assumptionb.Materiality constraintc.Consistency characteristicd.Monetary unit assumption86.Revenue is generally recognized when realized or realizable and earned. This statement describes thea.consistency characteristic.b.matching principle.c.revenue recognition principle.d.relevance characteristic.92.The allowance for doubtful accounts, which appears as a deduction from accounts receivable on a balance sheet and which is based on an estimate of bad debts, is an application of thea.consistency characteristic.b.matching principle.c.materiality constraint.d.revenue recognition principle.84.Proponents of historical cost ordinarily maintain that in comparison with all other valuation alternatives for general purpose financial reporting, statements prepared using historical costs are morea.reliable.b.relevant.c.indicative of the entitys purchasing power.d.conservative.117.Charging off the cost of a wastebasket with an estimated useful life of 10 years as an expense of the period when purchased is an example of the application of thea.consistency characteristic.b.matching principle.c.materiality constraint.d.historical cost principle.第四章5.Companies frequently report income tax expense as the last item before net income on a single-step income statement.7.Use of a multiple-step income statement will result in the company reporting a higher net income than if they used a single-step income statement.8.The primary advantage of the multiple-step format lies in the simplicity of presentation and the absence of any implication that one type of revenue or expense item has priority over another.9.Gross profit and income from operations are reported on a multiple-step but not a single-step income statement.13.Discontinued operations, extraordinary items, and unusual gains and losses are all reported net of tax in the income statement.31.Which of the following is an advantage of the single-step income statement over the multiple-step income statement?a.It reports gross profit for the year.b.Expenses are classified by function.c.It matches costs and expenses with related revenues.d.It does not imply that one type of revenue or expense has priority over another.32.The single-step income statement emphasizesa.the gross profit figure.b.total revenues and total expenses.c.extraordinary items and accounting changes more than these are emphasized in the multiple-step income statement.d.the various components of income from continuing operations.33.Which of the following is an acceptable method of presenting the income statement?a.A single-step income statementb.A multiple-step income statementc.A consolidated statement of incomed.All of these34.Which of the following is not a generally practiced method of presenting the income statement?a.Including prior period adjustments in determining net incomeb.The single-step income statementc.The consolidated statement of incomed.Including gains and losses from discontinued operations of a component of a business in determining net income第五章4.Companies frequently describe the terms of all long-term liability agreements in notes to the financial statements.30.The correct order to present current assets isa.cash, accounts receivable, prepaid items, inventories.b.cash, accounts receivable, inventories, prepaid items.c.cash, inventories, accounts receivable, prepaid items.d.cash, inventories, prepaid items, accounts receivable.33.The current assets section of the balance sheet should includea.machinery.b.patents.c.goodwill.d.inventory.34.Which of the following is a current asset?a.Cash surrender value of a life insurance policy of which the company is the bene-ficiary.b.Investment in equity securities for the purpose of controlling the issuing company.c.Cash designated for the purchase of tangible fixed assets.d.Trade installment receivables normally collectible in 18 months.35.Which of the following should not be considered as a current asset in the balance sheet?a.Installment notes receivable due over 18 months in accordance with normal trade practice.b.Prepaid taxes which cover assessments of the following operating cycle of the business.c.Equity or debt securities purchased with cash available for current operations.d.The cash surrender value of a life insurance policy carried by a corporation, the beneficiary, on its president.36.Equity or debt securities held to finance future construction of additional plants should be classified on a balance sheet asa.current assets.b.property, plant, and equipment.c.intangible assets.d.long-term investments.37.When a portion of inventories has been pledged as security on a loan,a.the value of the portion pledged should be subtracted from the debt.b.an equal amount of retained earnings should be appropriated.c.the fact should be disclosed but the amount of current assets should not be affected.d.the cost of the pledged inventories should be transferred from current assets to noncurrent assets.40.Which item below is not a current liability?a.Unearned revenueb.Stock dividends distributablec.The currently maturing portion of long-term debtd.Trade accounts payable45.Treasury stock should be reported as a(n)a.current asset.b.investment.c.other asset.d.reduction of stockholders equity.49.Which of the following is not an acceptable major asset classification?a.Current assetsb.Long-term investmentsc.Property, plant, and equipmentd.Deferred chargesS51.Which of the following balance sheet classifications would normally req