会计循环习题精选无答案

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1、True/FalseQuestions 1. Accountsthatappearinthebalancesheetareoftencalledtemporary(nominal)accounts. 2. IncomeSummaryisatemporaryaccountonlyusedfortheclosingprocess. 3. Revenueaccountsshouldbegineachaccountingperiodwithzerobalances. 4. Closingrevenueandexpens

2、eaccountsattheendoftheaccountingperiodservestomaketherevenueandexpenseaccountsreadyforuseinthenextperiod. 5. Theclosingprocesstakesplaceafterfinancialstatementshavebeenprepared. 6. Revenueandexpenseaccountsarepermanent(real)accountsandshouldnotbeclosedatthee

3、ndoftheaccountingperiod. 7. Closingentriesresultinrevenuesandexpensesbeingreflectedintheowner'scapitalaccount. 8. Theclosingprocessisastepintheaccountingcyclethatpreparesaccountsforthenextaccountingperiod. 9. Theclosingprocessisatwo-stepprocess.Firstrevenue,

4、expense,andwithdrawalsaresettoazerobalance.Second,theprocesssummarizesaperiod'sassetsandexpenses. 10. Closingentriesarerequiredattheendofeachaccountingperiodtocloseallledgeraccounts. 11. Closingentriesaredesignedtotransfertheend-of-periodbalancesintherevenue

5、accounts,theexpenseaccounts,andthewithdrawalsaccounttoowner'scapital. 12. TheIncomeSummaryaccountisapermanentaccountthatwillbecarriedforwardperiodafterperiod. 13. Closingentriesarenecessarysothatowner'scapitalwillbegineachperiodwithazerobalance. 14. Permanen

6、taccountscarrytheirbalancesintothenextaccountingperiod.Moreover,asset,liabilityandrevenueaccountsarenotclosedaslongasacompanycontinuesinbusiness. 15. Thefirststepintheaccountingcycleistoanalyzetransactionsandeventstoprepareforjournalizing. 16. Theaccountingc

7、yclereferstothesequenceofstepsinpreparingtheworksheet. 17. Thefirstfivestepsintheaccountingcycleincludeanalyzingtransactions,journalizing,posting,preparinganunadjustedtrialbalance,andrecordingadjustingentries. 18. Thelastfourstepsintheaccountingcycleincludep

8、reparingtheadjustedtrialbalance,preparingfinancialstatementsandrecordingclosingandadjustingentries. 19. Aclassifiedbalancesheetorganizesassetsandliabilitiesintoimportantsubgroupsthatprovidemorei