第一章测试1.A company enters into the following transactions for the month of May 20X 1.
•Purchased goods $3,800 on credit from supplier.
•Bought fixtures $1,500 for cash.
•Paid $20 in sundry expenses.
•Sold goods to a customer, received $8,000 for cash.
•Receives a bank loan of $5,000.
•Pays the month's wages by $800 for cash.
What is the total entry to the credit side of the cash T account? （ ）
A:$6,120. B:$10,320. C:$2,320. D:$2,300.
答案:C
2.A business has capital of $20,000. Which of the following asset and liability figures could appear in the statement of financial position probably? （ ）
A:Assets ( $ )8,000 Liability ( $ ) 2,000 B:Assets ( $ )28,000 Liability ( $ ) 8,000 C:Assets ( $ )8,000 Liability ( $ ) 28,000 D:Assets ( $ )10,000 Liability ( $ ) 10,000
答案:B
3.Which of the following statements concerning a debit entry is incorrect? （ ）
A:Debit entries record increase in income. B:Debit entries record increase in expenses. C:Debit entries record increase in asset. D:Debit entries record decrease in capital or liabilities.
答案:A
4.Which of the following statements about accounting concepts are correct? （ ）
A:The substance over form convention is that, transactions should be accounted for in according to its legal form, not economic reality. B:Neutrality and going concern are the two underlying assumptions in preparing financial statement. C:The prudence concept means that understating of assets and overstating of liabilities is desirable. D:IASB is trying to establish greater global uniformity with the accounting principles.
答案:D
5.Which of the following item is not an asset of a business? （ ）
A:Property. B:Bank overdraft. C:Receivable. D:Inventory.
答案:B
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