《会计专业英语》模拟试题及答案一、单选题 (每题 1 分，共20分)1. Which of the following statements about accounting concepts or assumptions are correct?1) The money measurement assumption is that items in accounts are initially measured at their historical cost.2) In order to achieve comparability it may sometimes be necessaryto override the prudence concept.3) To facilitate comparisons between different entities it is helpful if accounting policies and changes in them are disclosed.4) To comply with the law, the legal form of a transaction must always be reflected in financial statements.A 1 and 3B 1 and 4C 3 onlyD 2 and 32. Johnny had receivables of $5 500 at the start of 2010. During the year to 31 Dec 2010 he makescredit sales of $55 000 and receives cash of $46 500 from credit customers.What is the balance on the accounts receivables at 31 Dec 2010?A. $8 500 DrB. $8 500 CrC. $14 000 DrD. $14 000 Cr3. Should dividends paid appear on the face of a companycash flow sta'tesment?A. YesB. NoC. Not sureD. Either4. Which of the following inventory valuation methods is likely to lead to the highest figure for closinginventory at a time when prices are dropping?A. Weighted Average costB. First in first out (FIFO)C. Last in first out (LIFO)D. Unit cost5. Which of following items may appear as non-currentassets in a company the'stsatement of financial position?(1) plant, equipment, and property(2) company car(3) ?4000 cash(4) ?1000 chequeA. (1), (3)C. (2), (3)D. (2), (4)6. Which of the following items may appear as current liabilities in a company ' s balance sheet?(1) investment in subsidiary(2) Loan matured within one year.(3) income tax accrued untill year end.(4) Preference dividend accruedA (1), (2) and (3)B (1), (2) and (4)C (1), (3) and (4)D (2), (3) and (4)7. The trial balance totals of Gamma at 30 September 2010 are:Debit $992,640Credit $1,026,480Which TWO of the following possible errors could, when corrected, cause the trial balance to agree? 1. An item in the cash book $6,160 for payment of rent has not been entered in the rent payable account.2. The balance on the motor expensesaccount $27,680 has incorrectly been listed in the trial balance as a credit.3. $6,160 proceeds of sale of a motor vehicle has been posted to the debit of motor vehicles asset account.4. The balance of $21,520 on the rent receivable account has been omitted from the trial balance.A 1 and 2B 2 and 3C 2 and 4D 3 and 48. Theta prepares its financial statements for the year to 30 April each year. The company pays rent for its premises quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was $84,000 per year until 30 June 2010. It was increased from that date to $96,000 per year. What rent expense and end of year prepayment should be included in the financial statements for the year ended 30 April 2010?Expense PrepaymentA $93,000 $8,000B $93,000 $16,000C $94,000 $8,000D $94,000 $16,0009. At 30 September 2010, the following balances existed in the records of Lambda:Pla nt and equipme nt: $860,000Depreciati on for pla nt and equipme nt: $397,000During the year ended 30 September 2010, plant with a written down value of $37,000 was sold for $49,000. The plant had originally cost $80,000. Plant purchasedduring the year cost $180,000. It is the compa ny.s policy to charge a full year depreciati on in the year of acquisiti on of an asset and none in the year of sale, using a rate of 10% on the straight li ne basis. What net amount should appear in Lambda.s bala nee sheet at 30 September 2010 for pla nt and equipme nt?A $563,000C $510,000D $606,00010. A company' s plant and machinery ledger account ithie year ended 30 September 2010 was as follows:Pla nt and machi neryostproporti on ate depreciati on in years of purchase and disposal. What is the depreciati on charge for the year e nded 30 September 2010?A $74,440B $84,040C $72,640D $76,84011. Listed below are some characteristics of finan cial in formati on.(1) True⑵ Prude nee(3) Complete ness⑷ CorrectWhich of these characteristics con tribute to reliability?A (1),⑶ and ⑷ onlyB (1),⑵ and ⑷ onlyC (1),⑵ and ⑶ onlyD⑵，⑶and⑷only12. T he pla nt and mach inery cost acco unt of a compa ny is show n below. The compa ny policy is to charge depreciati on at 20% on the straight line basis, with proporti on ate depreciati on in years of acquisiti on and disposal.ostPla nt and machi neryA. $67,000B. $64,200D. $68,60013. In preparing its financial statements for the current year, a company ng inventory ' s closi was un derstated by $300,000. What will be the effect of this error if it remai ns un corrected?A The current year ' s profit will be overstated and next year ' s profit will be understB The current year' s profit will be understatedbut there will be no effect on next year' s profitC The current year ' s profit will be understated and next year ' s profit will be overstateD The current year' profit will be overstated but there will be no effect on next year' s profit.14. I n preparing a company's cash flow statement,which, if any, of the following items could form part of the calculati on of cash flow from financing activities?(1) Proceeds of sale of premises(2) Divide nds received(3) Issue of sharesA 1 onlyB 2 on lyC 3 on lyD No ne of them.15. At 31 March 2009 a compa ny had oil in ha nd to be used for heat ing costi ng $8,200 andan un paid heati ng oil bill for $3,600. At 31 March 2010 the heat ing oil in ha nd was $9,300 and there was an outstanding heating oil bill of $3,200. Payments made for heating oil duri ng the year en ded 31 March 2010 totalled $34,600. Based on these figures, what amount should appear in the compa ny ' s in come stateme nt for heati ngyefr theA $23,900B $36,100C $45,300D $33,10016. In times of inflation In times of rising prices, what effect does the use of the historicalcost concept have on a company ' s asset values and profit?A. Asset values and profit both un dervaluedB. Asset values and profit both overvaluedC. Asset values undervalued and profit overvaluedD. Asset values overvalued and profit undervalued17. Beta purchased some plant and equipment on 01/07/2010 for $60,000. The estimated residualvalue of the plant in 10 years time is estimated to be $6,000. Beta ' s policytois charge depreciation on the straight line basis, with a proportionate charge in the period of acquisition. What should the depreciation charge for the plant be in Beta 'asccounting period of 18 months to 30/09/2010 ?A. $5400B. $900C. $1350D. $67518. A company' isncome statement for the year ended 31 December 2005 showed a net profit of $83,600. It was later found that $18,000 paid for the purchase of a motor van had been debited to the motor expenses account. It is the company ' s policy to depreciate vans at 25 per cent per year on the straight line basis, with a full eyar ' s crhgae in the year of acquisition. What would the net profit be after adjusting for this error?A. $97,100B. $70,100C. $106,100D. $101,60019. Which of the following statements are correct?(1) to be prudent, company charge depreciation annually on the fixed asset(2) substance over form means that the commercial effect of a transaction must always be shown in the financial statements even if this differs from legal form(3) in order to achieve the comparable, items should be treated in the same way year on yearA. 2 and 3 onlyB. All of themC. 1 and 2 onlyD. 3 only20. which of the following about accruals concept are correct?(1) all financial statements are based on the accruals concept(2) the underlying theory of accruals concept and matching concept are same(3) accruals concept deals with any figure that incurred in the period irrelevant with it or notA. 2 and 3 onlyB. All of themC. 1 and 2 onlyD. 3 only。