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1、金融英语考试密押资料金融英语中级会计学模拟2金融英语考试密押资料金融英语中级会计学模拟2金融英语中级会计学模拟2SECTION ONE Answer all questions in this section. Question 1 Read the following statements and state whether they am Tree (T) or False (F). For all false statements, you are required to write the correct statements. Write all answers on the ans
2、wer sheets. 问题:1. For purpose of recording accounting information, each company is considered to be separate from its owners and all other companies. This concerns the entity concept.答案:A问题:2. In an inflation economy, the inventory ending balance recorded by FIFO method is lower than that recorded b
3、y LIFO method.答案:BIn an inflation economy, the inventory ending balance recorded by FIFO method is higher than that recorded by LIFO method.问题:3. If the purchaser has been given a purchase allowance, the amount of allowance should be debited to purchase return account.答案:BIf the purchaser has been g
4、iven a purchase allowance, the amount of allowance should be credited to purchase return account.问题:4. In long-term construction contracts, revenue is recognized at the point of the cash collected.答案:BIn long-term construction contracts, revenue is recognized in proportion to the contract work perfo
5、rmed each year.问题:5. In business charges depreciation in accounts, the accounting concept to be considered is the materiality concept.答案:BIn business charges depreciation in accounts, the accounting concept to be considered is the going concern concept.问题:6. Cumulative preference shares have the rig
6、ht to accumulate dividends in a given year if they are in arrears.答案:AQuestion 2 Read the following statements / questions and choose the correct answers by writing the alphabetical letter on the answer sheets. 问题:1. The following costs are relevant to make a decision except _. a.differential cost.b
7、.opportunity cost.c.historical cost.d.incremental cost.答案:C问题:2. Take the deflation into consideration, which method of inventory valuation will usually produce the highest profit and the lowest closing inventory value. a.FIFO method.b.Weighted average cost method.c.LIFO method.d.None of the above.答
8、案:D问题:3. A manufacturer has the following figures for the year ended 31 December 2003: Direct materials 7,000 Factory overheads 10,000 Direct labor 5,000 Increase in works-in-progress 2,000 The conversion cost is a.12,000.b.17,000.c.15,000.d.10,000.答案:C问题:4. Julie plans to sell delicate paper boxes
9、in her retail shop. The selling price is 10, while the cost is 5 per unit. The fixed costs she encounters will be 600. Then the breakeven is _. a.40 units.b.60 units.c.80 units.d.120 units.答案:D问题:5. The following expenditure should be. debited to the asset account except _. a.additions that extend t
10、he life of an asset.b.ordinary repair costs.c.replacements that expand the uses of an asset.d.None of the above.答案:B问题:6. Following the preparation of the profit and loss account, it is discovered that work-in-progress has been overvalued by 2,000 and an accrued expense of 500 has been overvalued. T
11、his will have resulted in _. a.an overstatement of net profit of 2,500.b.an understatement of net profit of 2,500.c.an overstatement of net profit of 1,500.d.an understatement of net profit of 1,500.答案:C问题:7. The accounting concept or convention, which, the economic life of a business can be divided
12、 into artificial time periods, is based on _. a.materiality Concept.b.going Concern Concept.c.matching Concept.d.prudence Concept.答案:B问题:8. A budget which, by recognizing different cost behaviour is designed to change as the volume of actual output changes is _. a.fixed Budget.b.zero Budget.c.flexib
13、le Budget.d.rolling Budget.答案:C问题:9. An old equipment has a book value of $ 350,000, deprecation expense 100,000, and current disposal value of 150,000. Which figure is the relevant cost to deposal the equipment? a.350,000.b.100,000.c.150,000.d.250,000.答案:C问题:10. Eva, Francis and Gigi have been in b
14、usiness for many years. They have always shared profits and losses equally. No goodwill account has been created in the books. On 1 January Year 7 they agree that Henry will join the partnership. Henry pays 25,000 as his contribution. They agree to share profits and losses equally. The Net Assets be
15、fore Henrys admission is $ 60,000. After Henrys admission, the goodwill is equal to _. a.15,000.b.5,000.c.35,000.d.20,000.答案:AQuestion 3问题:1. Charles operates a retail business in London. On 30 June 2003, there was a fire in his store. His books of account and most of his stock were destroyed. The value of the undamaged stock was agreed
