financial accounting章节测试课后答案2024春

第七章测试

1."Case 7-1: Use the information below to answer Questions 1-6.A business purchased an asset that had a total cost of $110,000 and a residual value of $10,000. The asset is expected to service the business for a period of 10 years or produce a total of 1,000,000 units. The machine was purchased January 1st of the current year and has been in service one complete year. Refer to Case 7-1. What is the depreciable cost of the asset?"（ ）。
A:$120,000 B:$90,000 C:$100,000 D:$110,000
答案:C
2.Refer to Case 7-1. Using the straight-line method, what is the amount of depreciation expense in Year two of the asset’s life?（ ）。
A:$10,000 B:$12,000 C:$20,000 D:$11,000 3.Refer to Case 7-1. Now assume the business uses the units-of-production method. If the asset produces 250,000 units in Year 1 and 200,000 units in Year two, what is the amount of depreciation expense for Year two?（ ）。
A:$22,000 B:$20,000 C:$45,000 D:$25,000 4.Refer to Case 7-1 and Question 3. What is the book value of the asset at the end of Year two, using the units-of-production method?（ ）。
A:$90,000 B:$80,000 C:$65,000 D:$60,500 5.Refer to Case 7-1. What is the depreciation expense in Year one, if the double-declining-balance method is used?（ ）。
A:$22,000 B:$10,000 C:$11,000 D:$20,000 6.The entry to record the annual depreciation does not include:（ ）。
A:A debit to Accumulated Depreciation. B:other three choices are not true. C:A credit to Accumulated Depreciation.   D:A debit to Depreciation Expense. 7.In calculating the total cost of land, all costs are included except:（ ）。
A:Brokerage commission. B:Fencing C:Survey fees D:Purchase price. 8.If a plant asset is sold and a gain is incurred, the entry to record the sale would include a debit to:（ ）。
A:Accumulated Depreciation. B:Plant Asset. C:Gain on Sale of Asset. D:Sales Revenue. 9.Return on assets:（ ）。
A:is calculated as net income/average total assets. B:is calculated as net income/net sales. C:is calculated as average total assets/net income. D:measures the amount of sales dollars generated by each dollar of assets invested in the business. 10.Which of the following statements is TRUE?（ ）。
A:Allocating the cost of a plant asset over its useful life is called depletion B:Allocating the cost of a natural resource to an expense is called depreciation. C:Intangible assets are amortized. D:other  three choices  are true.