Quiz-Chapter10PlantAssets,NaturalResourcesAndIntangibles

1、单选题：
‏Plant assets
are: ​
选项：
A: Tangible assets used
in the operation of a business that have a useful life of more than one
accounting period.
B: Current assets.
C: Held for sale.
D: Intangible assets
used in the operations of a business that have a useful life of more than one
accounting period.
E: Tangible assets used
in the operation of business that have a useful life of less than one
accounting period.
答案: 【 Tangible assets used
in the operation of a business that have a useful life of more than one
accounting period.】

2、单选题：
‌ Plant assets
are:‌
选项：
A: Current assets.
B: Used in operations.
C: Natural resources.
D: Long-term
investments.
E: Intangible.
答案: 【 Used in operations.】

3、单选题：
‍The relevant
factor(s) in computing depreciation include: ‎
选项：
A: Cost.
B: Salvage value.
C: Useful life.
D: Depreciation method.
E: All of the choices
are needed to compute depreciation.
答案: 【 All of the choices
are needed to compute depreciation.】

4、单选题：
‏ Salvage value
is: ‏
选项：
A: Also called residual
value.
B: Also called scrap
value.
C: An estimate of the
asset’s value at the end of its benefit period.
D:  A factor
relevant to determining depreciation.
E: All of the choices
are correct.
答案: 【 All of the choices
are correct.】

5、单选题：
‌Depreciation:‎
选项：
A: Measures the decline in market value of an asset.
B: Measures physical
deterioration of an asset.
C:  Is the process
of allocating to expense the cost of a plant asset.
D: Is an outflow of cash
from the use of a plant asset.
E: Is applied to land.
答案: 【  Is the process
of allocating to expense the cost of a plant asset.】

6、单选题：
‌ The useful life
of a plant asset is: ‏
选项：
A:  The length of
time it is productively used in a company’s operations.
B:  Never related
to its physical life.
C: Its productive life,
but not to exceed one year.
D: Determined by the
FASB.
E: Determined by law.
答案: 【  The length of
time it is productively used in a company’s operations.】

7、单选题：
​Once the estimated
depreciation expense for an asset is calculated:‍
选项：
A: It cannot be changed
due to the historical cost principle.
B: It may be revised
based on new information.
C: Any changes are
accumulated and recognized when the asset is sold
D: The estimate itself
cannot be changed; however, new information should be disclosed in financial
statement footnotes.
E:  It cannot be
changed due to the consistency principle.
答案: 【 It may be revised
based on new information.】

8、单选题：
‍A machine originally
had an estimated useful life of 5 years, but after 3 complete years, it was
decided that the original estimate of useful life should have been 10 years. At
that point the remaining cost to be depreciated should be allocated over the
remaining: ‌
选项：
A:  2 years.
B: 5 years.
C: 7 years.
D: 8 years.
E: 10 years.
答案: 【 7 years.】

9、单选题：
‌Many companies use an
accelerated depreciation method because:‌
选项：
A: It is required by the
tax code
B: It is required by
financial reporting rules.
C: It yields larger
depreciation expense in the early years of an asset’s life.
D: It yields a higher
income in the early years of the asset’s useful life.
E: The results are
identical to straight-line depreciation.
答案: 【 It yields larger
depreciation expense in the early years of an asset’s life.】

10、判断题：
‍ Plant assets refer to intangible assets that are used in the operations of a business.​
选项：
A: 正确
B: 错误
答案: 【 错误】

11、判断题：
‍ Plant assets are used in operations and have useful lives that extend over more than one accounting period.​
选项：
A: 正确
B: 错误
答案: 【 正确】

12、判断题：
‌Depreciation is the process of allocating the cost of a plant asset to expense in the accounting periods benefiting from its use.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

13、判断题：
‏ Salvage value is an estimate of an asset’s value at the end of its benefit period.‌
选项：
A: 正确
B: 错误
答案: 【 正确】

14、判断题：
‌A plant asset’s useful life might not be the same as its productive life.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

15、判断题：
‍ It is not necessary to report both the cost and the accumulated depreciation of plant assets in the financial statements.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

16、判断题：
​Depreciation expense is calculated using estimates of an asset’s salvage value and useful life. ‏
选项：
A: 正确
B: 错误
答案: 【 正确】

17、判断题：
‍When an asset is purchased (or disposed of) at a time other than the beginning or the end of an accounting period, depreciation is recorded for part of a year so that the year of purchase or the year of disposal is charged with its share of the asset’s depreciation.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

18、判断题：
‍Total depreciation expense over an asset’s useful life will not be identical under all methods of depreciation. ​
选项：
A: 正确
B: 错误
答案: 【 错误】

19、判断题：
‎Depreciation is lower in earlier years and income is lower in the later years when using accelerated versus straight-line methods.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

20、判断题：
‏Decision makers and other users of financial statements are especially interested in evaluating a company’s ability to use its assets in generating sales.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

21、判断题：
‏Asset turnover is computed by dividing average total assets by cost of sales.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

22、判断题：
‎Cowers reported net
sales of $2,463 million and average total assets of $1,546 million. Its total
asset turnover equals 1.59.‌
选项：
A: 正确
B: 错误
答案: 【 正确】

23、判断题：
​An asset’s cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use.​
选项：
A: 正确
B: 错误
答案: 【 正确】

24、判断题：
​An asset’s cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

25、判断题：
‍The purchase of a property that included land, building, and related improvements is called a lump-sum purchase.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

26、判断题：
‌Land is not subject to depreciation because it has an unlimited life. This means that items which increase the usefulness of the land such as parking lots are not depreciated.​
选项：
A: 正确
B: 错误
答案: 【 错误】

27、判断题：
‌Total asset cost plus depreciation expense equals book value.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

28、判断题：
​The units-of-production method of depreciation charges a constant amount of expense for each period of an asset’s useful life.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

29、判断题：
‏An accelerated depreciation method yields smaller depreciation expense in the early years of an asset’s life and larger depreciation expense in later years.‌
选项：
A: 正确
B: 错误
答案: 【 错误】

30、判断题：
‌The double-declining balance method is applied by (1) computing the asset’s straight-line depreciation rate, (2) doubling it, (3) subtracting salvage value from cost, and (4) multiplying the rate times the net value.‌
选项：
A: 正确
B: 错误
答案: 【 错误】

31、判断题：
‎Revenue expenditures are additional costs of plant assets that materially increase the assets’ life or productive capabilities.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

32、判断题：
‏Ordinary repairs are expenditures that keep assets in normal, good operating condition.‌
选项：
A: 正确
B: 错误
答案: 【 正确】

33、判断题：
​Extraordinary repairs are expenditures extending the asset’s useful life beyond its original estimate, and are capital expenditures because they benefit future periods. ‏
选项：
A: 正确
B: 错误
答案: 【 正确】

34、判断题：
‎Betterments are a type of revenue expenditure. ‏
选项：
A: 正确
B: 错误
答案: 【 错误】

35、判断题：
‌Plant assets can be disposed of by discarding, selling, or exchanging them.​
选项：
A: 正确
B: 错误
答案: 【 正确】

36、判断题：
‍Accounting for the exchange of assets depends on whether the transaction has commercial substance; commercial substance implies that it alters the company’s current cash flows.‌
选项：
A: 正确
B: 错误
答案: 【 错误】

37、判断题：
‍Gain or loss on the disposal of assets is determined by comparing the disposed asset’s book value to the value of any assets received.​
选项：
A: 正确
B: 错误
答案: 【 正确】

Quiz-Chapter11CurrentLiabilitiesAndPayrollAccounting

1、单选题：
‍ All of the following statements regarding liabilities are true except: ‎
选项：
A: A liability is a probable future payment of assets or services.
B: Unearned future wages to be paid to employees should be recorded as liabilities.
C: For a liability to be reported, it must be a present obligation that results from a past transaction or event, and requires a future payment of assets or services.
D: Information about liabilities is more useful when the balance sheet identifies them as either current or long term.
E: All of the responses are correct.
答案: 【 Unearned future wages to be paid to employees should be recorded as liabilities.】

2、单选题：
​Obligations due to be paid within one year or the company’s operating cycle, whichever is longer, are: ‍
选项：
A: Current assets.
B: Current liabilities.
C: Earned revenues.
D: Operating cycle liabilities.
E: Bills.
答案: 【 Current liabilities.】

3、单选题：
‌Obligations not expected to be paid within the longer of one year or the company’s operating cycle are reported as: ‌
选项：
A:  Current assets.
B: Current liabilities.
C:  Long-term liabilities.
D: Operating cycle liabilities.
E: Bills.
答案: 【  Long-term liabilities.】

4、单选题：
‎All of the following statements regarding uncertainty in liabilities are true except: ‍
选项：
A:  Liabilities can involve uncertainty in whom to pay
B:  A company can create a known amount when issuing a note even though the holder of the not may not be known until the maturity date.
C: A company can have an obligation of a known amount to a known creditor but not know when it must be paid.
D: A company only records liabilities when it knows whom to pay, when to pay, and how much to pay.
E: A company can be aware of an obligation but not know how much will be required to settle it.
答案: 【 A company only records liabilities when it knows whom to pay, when to pay, and how much to pay.】

5、单选题：
‌ Liabilities: ​
选项：
A:  Must be certain.
B: Must sometimes be estimated.
C: Must be for a specific amount.
D: Must always have a definite date for payment.
E:  Must involve an outflow of cash.
答案: 【 Must sometimes be estimated.】

6、单选题：
‌Known liabilities:‏
选项：
A:  Include accounts payable, notes payable, and payroll.
B: Are obligations set by agreements, contracts, or laws.
C: Are measurable.
D: Are definitely determinable.
E: All of the choices are correct.
答案: 【 All of the choices are correct.】

7、单选题：
​Amounts received in advance from customers for future products or services: ‎
选项：
A: Are revenues.
B: Increase income.
C: Are liabilities.
D: Are not allowed under GAAP.
E: Require an outlay of cash in the future.
答案: 【 Are liabilities.】

8、单选题：
‌Advance ticket sales totaling $6,000,000 cash would be recognized as follows: ‌
选项：
A:  Debit Sales, credit Unearned Revenue.
B:  Debit Unearned Revenue, credit Sales.
C: Debit Cash, credit Unearned Revenue.
D: Debit Unearned Revenue, credit Cash.
E: Debit Cash, credit Revenue.
答案: 【 Debit Cash, credit Unearned Revenue.】

9、单选题：
​A contingent liability: ‌
选项：
A: Is always of a specific amount.
B: Is a potential obligation that depends on a future event arising from a past transaction or event.
C:  Is an obligation not requiring future payment.
D:  Is an obligation arising from the purchase of goods or services on credit.
E: Is an obligation arising from a future event.
答案: 【 Is a potential obligation that depends on a future event arising from a past transaction or event.】

10、单选题：
​Contingent liabilities can be: ​
选项：
A:  Probable.
B: Remote.
C: Reasonably possible.
D: Estimable.
E: All of the choices are correct.
答案: 【 All of the choices are correct.】

11、单选题：
‍In the accounting records of a defendant, lawsuits: ‏
选项：
A: Are estimated liabilities.
B: Should always be recorded.
C: Should always be disclosed.
D: Should be recorded if payment for damages is probable and the amount can be reasonably estimated.
E: Should never be recorded.
答案: 【 Should be recorded if payment for damages is probable and the amount can be reasonably estimated.】

12、单选题：
‏The times interest earned ratio reflects:‌
选项：
A: A company’s ability to pay its operating expenses on time.
B: A company’s ability to pay interest even if sales decline.
C:  A company’s profitability.
D: The relation between income and debt.
E: The relation between assets and liabilities.
答案: 【 A company’s ability to pay interest even if sales decline.】

13、判断题：
​A liability is a probable future payment of assets or services that a company is presently obligated to make as a result of past transactions or events.​
选项：
A: 正确
B: 错误
答案: 【 正确】

14、判断题：
‍Obligations not due within one year or the company’s operating cycle, whichever is longer, are reported as current liabilities.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

15、判断题：
‎A single liability can be divided between current and noncurrent liabilities.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

16、判断题：
‎ A company cannot have a liability if the amount of the obligation is unknown.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

17、判断题：
‍A liability does not exist if there is any uncertainty about whom to pay, when to pay, or how much to pay.​
选项：
A: 正确
B: 错误
答案: 【 错误】

18、判断题：
​Unearned revenues are liabilities. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

19、判断题：
‍Sales taxes payable is credited and cash is debited when companies send sales taxes collected from customers to the government.‍
选项：
A: 正确
B: 错误
答案: 【 错误】

20、判断题：
​ Known liabilities are obligations set by agreements, contracts, or laws, and are measurable and definitely determinable. ‎
选项：
A: 正确
B: 错误
答案: 【 正确】

21、判断题：
‎ A contingent liability is a potential obligation that depends on a future event arising from a future transaction or event. ‏
选项：
A: 正确
B: 错误
答案: 【 错误】

22、判断题：
‏ A lawsuit is an example of a contingent liability for the defendant.​
选项：
A: 正确
B: 错误
答案: 【 正确】

23、判断题：
‏The full disclosure principle requires the reporting of contingent liabilities that are reasonably possible. ​
选项：
A: 正确
B: 错误
答案: 【 正确】

24、判断题：
‏ Uncertainties from the development of new competing products are contingent liabilities.‌
选项：
A: 正确
B: 错误
答案: 【 错误】

25、判断题：
‌ A potential lawsuit claim is recorded when the claim can be reasonably estimated and it is reasonably possible.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

26、判断题：
‏ A high value for the times interest earned ratio means that a company is a higher risk borrower. ‏
选项：
A: 正确
B: 错误
答案: 【 错误】

27、判断题：
‏ The times interest earned ratio is calculated by dividing income before interest expense and income taxes by interest expense.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

28、判断题：
‌Required payroll deductions result from laws and include income taxes, Social Security taxes, pension and health contributions, union dues, and charitable giving.‍
选项：
A: 正确
B: 错误
答案: 【 错误】

29、判断题：
‍ Employers must pay FICA taxes equal in amount to the FICA taxes withheld from their employees. ‍
选项：
A: 正确
B: 错误
答案: 【 正确】

30、判断题：
‏Accrued vacation benefits are a form of estimated liability for an employer.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

Quiz-Chapter12Long-TermLiabilities

1、单选题：
‎Bonds that have an option exercisable by the issuer to retire them at a stated dollar amount prior to maturity are known as:‏
选项：
A: Convertible bonds.
B: Sinking fund bonds.
C: Callable bonds.
D: Serial bonds.
E: Junk bonds.
答案: 【 Callable bonds.】

2、单选题：
‌Secured bonds:‍
选项：
A: Are called debentures.
B: Have specific assets of the issuing company pledged as collateral.
C: Are backed by the issuer’s bank.
D: Are subordinated to those of other unsecured liabilities.
E: Are the same as sinking fund bonds.
答案: 【 Have specific assets of the issuing company pledged as collateral.】

3、单选题：
‏Bonds owned by investors whose names and addresses are recorded by the issuing company, and for which interest payments are made with checks or cash transfers to the bondholders, are called:‎
选项：
A: Callable bonds.
B: Serial bonds.
C: Registered bonds.
D: Coupon bonds
E: Bearer bonds.
答案: 【 Registered bonds.】

4、单选题：
‌Bonds that mature at different dates with the result that the entire principal amount is repaid gradually over a number of periods are known as: ​
选项：
A: Registered bonds.
B:  Bearer bonds.
C: Callable bonds.
D: Sinking fund bonds.
E: Serial bonds.
答案: 【 Serial bonds.】

5、单选题：
‌The carrying value of bonds at maturity is always equal to: ‎
选项：
A:  the par value that the issuer pays the holder.
B: the amount of discount or premium.
C: the amount of cash originally received in exchange for the bonds plus any unamortized discount or less any premium.
D: $0.
E: the amount of cash originally received in exchange for the bonds.
答案: 【  the par value that the issuer pays the holder.;
the amount of discount or premium.】

6、单选题：
​An advantage of bond financing is:‎
选项：
A: Bonds do not affect owners’ control.
B:  Interest on bonds is tax deductible.
C: Bonds can increase return on equity.
D:  It allows firms to trade on the equity.
E: All of the choices are correct.
答案: 【 All of the choices are correct.】

7、单选题：
‌ A disadvantage of bonds is: ‍
选项：
A: Bonds require payment of periodic interest.
B: Bonds require payment of par value at maturity.
C: Bonds can decrease return on equity.
D: Bond payments can be burdensome when income and cash flow are low.
E: All of the choices are correct.
答案: 【 All of the choices are correct.】

8、单选题：
‏Which of the following statements is true?‍
选项：
A:  Interest on bonds is tax deductible.
B: Interest on bonds is not tax deductible.
C: Dividends to stockholders are tax deductible.
D: Bonds do not have to be repaid.
E: Bonds always increase return on equity.
答案: 【  Interest on bonds is tax deductible.】

9、判断题：
‍Term bonds are scheduled for maturity on one specified date, whereas serial bonds mature at more than one date. ​
选项：
A: 正确
B: 错误
答案: 【 正确】

10、判断题：
‌Debentures always have specific assets of the issuing company pledged as collateral.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

11、判断题：
‍ Callable bonds have an option exercisable by the issuer to retire them at a stated dollar amount prior to maturity.‌
选项：
A: 正确
B: 错误
答案: 【 正确】

12、判断题：
‎Callable bonds can be exchanged for a fixed number of shares of the issuing corporation’s common stock. ‏
选项：
A: 正确
B: 错误
答案: 【 错误】

13、判断题：
‎A bond’s par value is not necessarily the same as its market value. ​
选项：
A: 正确
B: 错误
答案: 【 正确】

14、判断题：
‌An installment note is an obligation of the issuing company that requires a series of periodic payments to the lender.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

15、判断题：
​The carrying value of a long-term note is computed as the present value of all remaining future payments, discounted using the market rate at the time of issuance.‌
选项：
A: 正确
B: 错误
答案: 【 正确】

16、判断题：
​Mortgage contracts grant the lender the right to be paid from the cash proceeds of the sale of a borrower’s assets identified in the mortgage. ​
选项：
A: 正确
B: 错误
答案: 【 正确】

17、判断题：
​Mortgage bonds are backed only by the good faith and credit of the issuing company. ​
选项：
A: 正确
B: 错误
答案: 【 错误】

18、判断题：
‎A basic present value concept is that cash paid or received in the future is worth less than the same amount of cash today. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

19、判断题：
‎Compound interest means that interest in a second period is based on the total amount borrowed plus the interest accrued in the first period.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

20、判断题：
‌An annuity is a series of equal payments at equal time intervals. ​
选项：
A: 正确
B: 错误
答案: 【 正确】

21、判断题：
‏The present value of an annuity factor for 6 years at 10% is 4.3553. This implies that an annuity of six $2,000 payments at 10% would equal $8,710.60. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

22、判断题：
‌A bond is a written promise to pay an amount identified as the par value of the bond along with interest. ‏
选项：
A: 正确
B: 错误
答案: 【 正确】

23、判断题：
​An disadvantage of bond financing is that issuing bonds does not affect owner control.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

24、判断题：
‎Interest payments on bonds are determined by multiplying the carrying value of the bond by the stated contract rate. ​
选项：
A: 正确
B: 错误
答案: 【 错误】

25、判断题：
‏Return on equity increases when the expected rate of return from the acquired assets is lower than the interest rate on the debt issued to finance the acquired assets. ‍
选项：
A: 正确
B: 错误
答案: 【 错误】

26、判断题：
‍The use of debt financing insures an increase in return on equity.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

27、判断题：
​Bond interest paid by a corporation is an expense, whereas dividends paid are not an expense of the corporation. ‍
选项：
A: 正确
B: 错误
答案: 【 正确】

28、判断题：
​ Collateral from unsecured loans may be sold to offset the loan obligation if the loan is in default.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

29、判断题：
‏ A company’s ability to issue unsecured debt depends on its credit standing.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

30、判断题：
‌A company with a low level of liabilities in relation to stockholders’ equity is likely to have a very high debt-to-equity ratio.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

31、判断题：
‎The debt-to-equity ratio is calculated by dividing total stockholders’ equity by total liabilities.‍
选项：
A: 正确
B: 错误
答案: 【 错误】

32、判断题：
‏The debt-to-equity ratio enables financial statement users to assess the risk of a company’s financing structure. ‍
选项：
A: 正确
B: 错误
答案: 【 正确】

33、判断题：
‌ Long-term bonds have relatively higher interest rates because they carry higher risk due to the longer time period.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

34、判断题：
‏When the contract rate on a bond issue is more than the market rate, the bonds will generally sell at a discount.​
选项：
A: 正确
B: 错误
答案: 【 错误】

35、判断题：
‎When the contract rate is above the market rate, a bond sells at a discount. ‎
选项：
A: 正确
B: 错误
答案: 【 错误】

36、判断题：
‌ A discount on bonds payable occurs when a company issues bonds with an issue price less than par value. ‎
选项：
A: 正确
B: 错误
答案: 【 正确】

37、判断题：
‎A premium on bonds occurs when bonds carry a contract rate greater than the market rate at issuance and the premium reduces the interest expense of the bond over its life. ‍
选项：
A: 正确
B: 错误
答案: 【 正确】

38、判断题：
‍ The market value or issue price of a bond is equal to the present value of all future cash payments provided by the bond. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

39、判断题：
​Premium on Bonds Payable is an adjunct or accretion liability account. ‍
选项：
A: 正确
B: 错误
答案: 【 正确】

40、判断题：
​The issue price of bonds is found by computing the future value of the bond’s cash payments, discounted at the market rate of interest. ‌
选项：
A: 正确
B: 错误
答案: 【 错误】

41、判断题：
​When convertible bonds are converted to a company’s stock, the carrying value of the bonds is transferred to equity accounts and no gain or loss is recorded. ​
选项：
A: 正确
B: 错误
答案: 【 正确】

42、判断题：
‌Payments on installment notes normally include accrued interest plus a portion of the principal amount borrowed. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

Quiz-Chapter13AccountingForPartnerships

1、单选题：
‎An unincorporated association of two or more persons to carry on a business for profit as co-owners is a: ‌
选项：
A: Partnership.
B: Proprietorship.
C:  Contractual company.
D: Mutual agency.
E: Voluntary organization.
答案: 【 Partnership.】

2、单选题：
​Disadvantages of a partnership include: ‍
选项：
A: Limited life.
B: Mutual agency.
C: Unlimited liability.
D: Co-ownership of property.
E: All of the choices are disadvantages.
答案: 【 All of the choices are disadvantages.】

3、单选题：
‏A partnership designed to protect innocent partners from malpractice or negligence claims resulting from acts of another partner is a: ​
选项：
A: Partnership.
B: Limited partnership.
C: Limited liability partnership.
D: General partnership.
E: Limited liability company.
答案: 【 Limited liability partnership.】

4、单选题：
‏ Partnership accounting: ‎
选项：
A: Uses a capital account for each partner.
B: Uses a withdrawals account for each partner.
C: Allocates net income to each partner according to the partnership agreement.
D: Allocates net loss to each partner according to the partnership agreement.
E: All of the choices are correct.
答案: 【 All of the choices are correct.】

5、单选题：
​Partners’ withdrawals of assets are: ‌
选项：
A: Credited to their withdrawals accounts.
B: Debited to their withdrawals accounts.
C: Credited to their retained earnings.
D: Debited to their retained earnings.
E: Debited to their asset accounts.
答案: 【 Debited to their withdrawals accounts.】

6、单选题：
‎The withdrawals account of each partner is: ​
选项：
A: Closed to that partner’s capital account with a credit.
B: Closed to that partner’s capital account with a debit.
C: A permanent account that is not closed.
D: Credited with that partner’s share of net income.
E: Debited with that partner’s share of net loss.
答案: 【 Closed to that partner’s capital account with a credit.】

7、判断题：
‏A partnership has an unlimited life.​
选项：
A: 正确
B: 错误
答案: 【 错误】

8、判断题：
​A partnership is an unincorporated association of two or more people to pursue a business for profit as co-owners. ‏
选项：
A: 正确
B: 错误
答案: 【 正确】

9、判断题：
‌Mutual agency means each partner can commit or bind the partnership to any contract within the scope of the partnership business. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

10、判断题：
‍ Limited liability partnerships are designed to protect innocent partners from malpractice or negligence claims resulting from the acts of another partner. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

11、判断题：
‌In a limited partnership the general partner has unlimited liability‏
选项：
A: 正确
B: 错误
答案: 【 正确】

12、判断题：
‎Partner return on equity can be used by each partner to help decide whether additional investment or withdrawal of resources is best for that partner. ‎
选项：
A: 正确
B: 错误
答案: 【 正确】

13、判断题：
‏When partners invest in a partnership, their capital accounts are debited for the amount invested. ​
选项：
A: 正确
B: 错误
答案: 【 错误】

14、判断题：
‏Partners’ withdrawals are credited to their separate withdrawals accounts‏
选项：
A: 正确
B: 错误
答案: 【 错误】

15、判断题：
‎Partners can invest both assets and liabilities into a partnership.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

16、判断题：
‎ In closing the accounts at the end of a period, the partners’ capital accounts are credited for their share of the partnership loss or debited for their share of the partnership net income. ‌
选项：
A: 正确
B: 错误
答案: 【 错误】

17、判断题：
‌Salary allowances are reported as salaries expense on a partnership income statement.‎
选项：
A: 正确
B: 错误
答案: 【 错误】

18、判断题：
‌When a partner leaves a partnership, the present partnership ends.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

19、判断题：
‌When a partner leaves a partnership, the present partnership ends, but the business can still continue to operate.​
选项：
A: 正确
B: 错误
答案: 【 正确】

20、判断题：
‏When a partnership is liquidated, its business is ended.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

21、判断题：
‎A capital deficiency exists when all partners have a credit balance in their capital accounts.​
选项：
A: 正确
B: 错误
答案: 【 错误】

22、判断题：
‌A capital deficiency can arise from liquidation losses, excessive withdrawals before liquidation, or recurring losses in prior periods. ‍
选项：
A: 正确
B: 错误
答案: 【 正确】

23、判断题：
‏If a partner is unable to cover a deficiency and the other partners absorb the deficiency, then the partner with the deficiency is thus relieved of all liability. ‌
选项：
A: 正确
B: 错误
答案: 【 错误】

Quiz-Chapter14AccountingforCorporations

1、单选题：
‏The number of shares that a corporation’s charter allows it to sell is referred to as:‌
选项：
A: Issued stock.
B: Outstanding stock.
C: Common stock.
D: Preferred stock.
E: Authorized stock.
答案: 【 Authorized stock.】

2、单选题：
‎Par value of a stock refers to the: ‏
选项：
A: Issue price of the stock.
B: Value assigned per share of stock by the corporate charter.
C: Market value of the stock on the date of the financial statements.
D: Maximum selling price of the stock.
E: Dividend value of the stock.
答案: 【 Value assigned per share of stock by the corporate charter.】

3、单选题：
​ Stockholders’ equity consists of:‎
选项：
A: Long-term assets.
B: Paid-in capital and retained earnings.
C: Paid-in capital and par value.
D: Retained earnings and cash.
E: Premiums and discounts.
答案: 【 Paid-in capital and retained earnings.】

4、单选题：
‏Retained earnings:​
选项：
A: Generally consists of a company’s cumulative net income less any net losses and dividends declared since its inception.
B: Can only be appropriated by setting aside a cash fund.
C: Represent an amount of cash available to pay shareholders.
D: Are never adjusted for anything other than net income or dividends.
E: All of the choices are correct.
答案: 【 Generally consists of a company’s cumulative net income less any net losses and dividends declared since its inception.】

5、单选题：
​ Prior period adjustments are reported in the:‎
选项：
A: Multiple-step income statement.
B: Balance sheet.
C: Statement of retained earnings.
D:  Statement of cash flows.
E:  Single-step income statement.
答案: 【 Statement of retained earnings.】

6、单选题：
‌ The amount of income earned per share of a company’s outstanding common stock is known as: ‌
选项：
A: Restricted retained earnings per share.
B: Earnings per share.
C: Continuing operations per share.
D: Dividends per share.
E: Book value per share.
答案: 【 Earnings per share.】

7、单选题：
‏The price-earnings ratio is calculated by dividing: ‌
选项：
A:  Market value per share by earnings per share.
B: Earnings per share by market value per share.
C: Dividends per share by earnings per share.
D: Dividends per share by market value per share.
E: Market value per share by dividends per share.
答案: 【  Market value per share by earnings per share.】

8、单选题：
​A company has earnings per share of $9.60. Its dividend per share is $0.50, its market price per share is $120, and its book value per share is $96. Its price-earnings ratio equals: ‍
选项：
A:  9.6.
B: 19.2.
C:  12.5.
D: 10.0.
E:  8.5.
答案: 【  12.5.】

9、判断题：
‎A corporation is a legal entity separate from its owners. ‌
选项：
A: 正确
B: 错误
答案: 【 正确】

10、判断题：
‌Common shareholders always share equally with all other shareholders in all dividends.​
选项：
A: 正确
B: 错误
答案: 【 错误】

11、判断题：
‎Stock is attractive to investors because stockholders are not liable for the corporation’s actions and debts and because stock is easily transferred.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

12、判断题：
‍Stockholders’ equity consists of paid-in capital and retained earnings.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

13、判断题：
‎ Par value per share is the price at which a share of stock is bought or sold.‏
选项：
A: 正确
B: 错误
答案: 【 错误】

14、判断题：
‎Authorized stock is the total number of shares outstanding.‌
选项：
A: 正确
B: 错误
答案: 【 错误】

15、判断题：
​A corporation can issue two kinds of stock – common and preferred.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

16、判断题：