Charging the cost of ordinary repairs to the machinery and equipment asset account during the current year would ( ).
A. overstate net income for the current year
B. Understate shareholder’s equity at the end of the current year
C. Not affect the total liabilities at the end of the current year
D. overstate the total assets at the end of the current year
查看答案
The control features of a bank account include ( ).
A. having bank auditors verify the correctness of the bank balance per books.
B. minimizing the amount of cash that must be kept on hand.
C. providing a double record of all bank transactions.
D. safeguarding cash by using a bank as a depository.
Which of the following statements related to receivables are false? ( ).
A. On the balance sheet, accounts receivable is usually reportedas total accounts receivable plus the allowance for uncollectible accounts
B. A dishonored note receivable should be shown as a current liability
C. When a note receivable is not paid at maturity, the principalplus any interest due should be charged back to thecustomer’s account receivable
D. When a customer overpays his account receivable, the resulting balance should be properly shown among the long-term(noncurrent) assets on the balance sheet
Which of the following statements aretrue? ( ).
A. The partnership form of business organization protects the personal assets of the owners from creditors of the business.
B. A proprietorship has a single owner.
C. Accounting is the information system that measures business activities, processes that information into reports, and communicates the results to decision makers.
D. The FASB determines how accounting is practiced in the United States
Goods’ transportation expense should not be included in the inventory of the buyer in the term of FOB destination. ( )
微信支付 
支付宝支付