欢迎来到天天文库
浏览记录
ID:56724256
大小:1.41 MB
页数:24页
时间:2020-07-06
《会计循环1习题精选含答案.doc》由会员上传分享,免费在线阅读,更多相关内容在应用文档-天天文库。
1、True/FalseQuestions 1. Accountsthatappearinthebalancesheetareoftencalledtemporary(nominal)accounts. FALSE2. IncomeSummaryisatemporaryaccountonlyusedfortheclosingprocess. TRUE 3. Revenueaccountsshouldbegineachaccountingperiodwithzerobalances. TRUE 4. Closi
2、ngrevenueandexpenseaccountsattheendoftheaccountingperiodservestomaketherevenueandexpenseaccountsreadyforuseinthenextperiod. TRUE 5. Theclosingprocesstakesplaceafterfinancialstatementshavebeenprepared. TRUE 6. Revenueandexpenseaccountsarepermanent(real)acc
3、ountsandshouldnotbeclosedattheendoftheaccountingperiod. FALSE7. Closingentriesresultinrevenuesandexpensesbeingreflectedintheowner'scapitalaccount. TRUE 8. Theclosingprocessisastepintheaccountingcyclethatpreparesaccountsforthenextaccountingperiod. TRUE 9.
4、Theclosingprocessisatwo-stepprocess.Firstrevenue,expense,andwithdrawalsaresettoazerobalance.Second,theprocesssummarizesaperiod'sassetsandexpenses. FALSE 10. Closingentriesarerequiredattheendofeachaccountingperiodtocloseallledgeraccounts. FALSE 11. Closin
5、gentriesaredesignedtotransfertheend-of-periodbalancesintherevenueaccounts,theexpenseaccounts,andthewithdrawalsaccounttoowner'scapital. TRUE 12. TheIncomeSummaryaccountisapermanentaccountthatwillbecarriedforwardperiodafterperiod. FALSE 13. Closingentriesar
6、enecessarysothatowner'scapitalwillbegineachperiodwithazerobalance. FALSE 14. Permanentaccountscarrytheirbalancesintothenextaccountingperiod.Moreover,asset,liabilityandrevenueaccountsarenotclosedaslongasacompanycontinuesinbusiness. FALSE 15. Thefirststepin
7、theaccountingcycleistoanalyzetransactionsandeventstoprepareforjournalizing. TRUE 16. Theaccountingcyclereferstothesequenceofstepsinpreparingtheworksheet. FALSE 17. Thefirstfivestepsintheaccountingcycleincludeanalyzingtransactions,journalizing,posting,prep
8、aringanunadjustedtrialbalance,andrecordingadjustingentries. TRUE 18. Thelastfourstepsintheaccountingcycleincludepreparingtheadjustedtrialbalance,preparingfinancialstatementsandrecordingclosingandadjustingentries. FA
此文档下载收益归作者所有