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专业英语练习题.pdf

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1.Theaccountingconceptthatrequiresfinancialstatementinformationtobesupportedby independent,unbiasedevidenceotherthansomeone'sbelieforopinionis: A.Businessentityassumption. B.Monetaryunitassumption. C.Going-concernassumption. D.Time-periodassumption. E.Objectivity 2.Therulethatrequiresfinancialstatementstoreflecttheassumptionthatthebusinesswill continueoperatinginsteadofbeingclosedorsold,unlessevidenceshowsthatitwillnotcontinue, isthe: A.Going-concernassumption. B.Businessentityassumption. C.Objectivityprinciple. D.CostPrinciple. E.Monetaryunitassumption. 3.Ifaparceloflandthatwasoriginallyacquiredfor$85,000isofferedforsaleat$150,000,is assessedfortaxpurposesat$95,000,isrecognizedbyitspurchasersaseasilybeingworth $140,000,andissoldfor$137,000,thelandshouldberecordedinthepurchaser'sbooksat: A.$95,000. B.$137,000. C.$138,500. D.$140,000. E.$150,000. 4.Toincludethepersonalassetsandtransactionsofabusiness'sownerintherecordsandreports ofthebusinesswouldbeinconflictwiththe: A.Objectivityprinciple. B.Monetaryunitassumption. C.Businessentityassumption. D.Going-concernassumption. E.Revenuerecognitionprinciple. 5.Ifaparceloflandthatwasoriginallypurchasedfor$85,000isofferedforsaleat$150,000,is assessedfortaxpurposesat$95,000,isrecognizedbyitspurchasersaseasilybeingworth $140,000,andissoldfor$137,000,thelandaccounttransactionamounttohandlethesaleofthe landintheseller'sbooksis: A.$85,000increase. B.$85,000decrease. C.$137,000increase. D.$137,000decrease. E.$140,000decrease. 6.Ifaparceloflandthatwasoriginallypurchasedfor$85,000isofferedforsaleat$150,000,is assessedfortaxpurposesat$95,000,isrecognizedbyitspurchasersaseasilybeingworth $140,000,andissoldfor$137,000.Whatistheeffectofthesaleontheaccountingequationfor theseller? A.Assetsincrease$52,000;owner'sequityincreases$52,000. B.Assetsincrease$85,000;owner'sequityincreases$85,000. C.Assetsincrease$137,000;owner'sequityincreases$137,000. D.Assetsincrease$140,000;owner'sequityincreases$140,000. E.Assetsdecrease$85,000;owner's