TIẾNG ANH CHUYÊN NGÀNH 2

to explain the A petty cash book voucher has to be completed and ……… before A prepaid expense is added to the expense item from the trial A prepaid expense is shown as a current asset in

TIẾNG ANH CHUYÊN NGÀNH 2-chuyên ngành kế toán

……… cheques and amounts paid in, not yet credited are used to

prepare the bank reconciliation statement unpresented

A ………… cheque is one which the bank refuses to pay for

A bad debt recovered account is used to record the recovery of bad

debts ………the financial year in which they were written off after

A bank account with overdraft has a debit balance False

A bank reconciliation statement is prepared to ……… between the

cash book and bank statement balances reconcile

A debit balance on the insurance account means that insurance

A debit balance on the insurance account means that insurance

A journal entry always includes a debit and a credit entry FALSE

A journal entry states which account is to be debited and which

account is to be credited, along with a ……… to explain the

A petty cash book voucher has to be completed and ……… before

A prepaid expense is added to the expense item from the trial

A prepaid expense is shown as a current asset in the balance sheet True

A prepaid expense requires no year-end adjustment False

A prepaid income is an income received in…………of the

accounting period that it relates to advance

A provision for doubtful debt is set at a ………….of debtors percentage

A……… of a debt may be written off as a bad debt if the debtor is

Accrual of income means that income due ………… the financial

year has not been received by the end of the year for

Alternative names for the Journal are the ……… Journal or

Amounts due from debtors, which are individually written off

should be debited to bad debts account True

Amounts paid in but not yet included in the bank statement are

An accrual of expense remains ………at the end of that period unpaid

An accrued expense is shown amongst the liabilities in the balance

An accrued expense is shown as an amount due within 1 year in the

An accrued expense represents an expense paid in advance False

An error in addition is one not affecting the trial balance

An error overstating an expense item would also overstate the net

An error understating an income item would also understate

An error understating the purchases amount would overstate gross

An expense accrual appears in the balance sheet as a……… current liability

An expense prepayment appears in the balance sheet as

An income accrual appears in the balance sheet as a………… current asset

An income prepayment appears in the balance sheet as

Any debt written off must be charged against the profit by means

of a ……….entry in the profit and loss account debit

Any debts written off are a/an …………of the business expense Any decrease in the provision for doubtful debt will be seen as an

Any decrease in the provision for doubtful debts is a ……… to

Any increase in a depreciation provision is credited to the Profit

Any increase in the provision for doubtful debt will be debited to

Any……… in depreciation provision is charged against profit increase Bad debts are debts that the business is unable to……… collect Bad debts written off are not shown in the balance sheet TRUE Bank charges are the income of the business FALSE Capital expenditure decreases the figure of assets in the balance

Capital expenditure is aimed at providing long-term benefits True

Capital expenditure is the money spent on the ………… of fixed

assets or on improvements to fixed assets purchase Capital expenditure is the money spent on the ………… of fixed

assets or on improvements to fixed assets purchase Closing stock appears ………in the final accounts twice

Closing stock appears both in the trading account and in the

Closing stock is included in the trial balance False Costs of business belong to capital expenditure FALSE Debts may be written off at………times throughout the year different Depreciation is the estimate of the …………in value of fixed assets

Depreciation provision account has a credit balance True

Depreciation provision account has a credit balance True

Differences in the cash book and bank statement balances could be

Drawings can be in the form of business facilities TRUE Drawings can only be in the form of bank or cash FALSE Drawings cannot be in the form of goods that the business deal False Drawings is From capital in the balance sheet deducted Drawings is …………from capital in the balance sheet deducted Drawings is added to capital in the balance sheet False Drawings might also take the Of goods for private use Form

Drawings might also take the …….of goods for private use form

Drawings might also take the form of using business………for

During the period, the petty cashier can make payments up to the

Errors are Using journal entries corrected Errors are ……… using journal entries corrected Errors in figures in the trading and profit and loss account will

affect the Of profits calculation Errors in figures in the trading and profit and loss account will

Errors in figures in the trading and profit and loss account will

Errors of commission occur when a transaction is entered in the

Errors of duplication occur when a transaction is entered twice in

Errors of original entry happen when the entries have been made

with the amount being entered wrongly in one account False Expenditure incorrectly treated as capital expenditure will overstate assets

the ……… on the balance sheet.

Expenditure incorrectly treated as capital expenditure will overstate

Expenditure incorrectly treated as revenue expenditure will

overstate expenses and ………… profits reduce Expenditure incorrectly treated as revenue expenditure will

understate expenses and increase profits FALSE Expenditure incorrectly treated as revenue expenditure will

understate expenses and increase profits False Expenses and incomes need to be………… to the correct

if drawings is in the form of cash, Account is credited Cash

If drawings is in the form of cash, …… account is credited cash

If drawings is in the form of goods, it is necessary to show

a……….from purchases in the trading caccount deduction

if trading and profit and loss accounts are presented in a two sided

form, it is called the Form Horizontal

If trading and profit and loss accounts are presented in a two sided

If you take no account year-by-year of the fall in value of fixed

assets, the annual profit figures are……… overstated

If you take no account year-by-year of the fall in value of fixed

assets, the value of assets in the balance sheet is ……… overstated

In allowing for depreciation of fixed assets, you estimate the

In straight line method to calculate depreciation, the eventual

In the account of provision for depreciation, it is only necessary to

……….down the balance once two entries have been made bring

In the balance sheet, each fixed asset is shown at……… less total cost

depreciation to date.

In the balance sheet, the net profit is added to capital

In the balance sheet, the net profit is added to capital TRUE

In the balance sheet, the net profit is added to………… capital

In the petty cash book, any payment item has to be entered twice,

once in the total column and once in the appropriate analysis

In the petty cash book, the total of the analysis column totals and

the total of payments are not necessarily equal FALSE Omission is an error affecting the trial balance agreement FALSE Once the provision for doubtful debts has been created, it remains

One of the reasons for a dishonored cheque is that the drawer has

not…… ……funds in his bank account sufficient One of the reasons for a dishonored cheque is that there may be

something………in the way the cheque has been written strange Opening stock appears ………in the final accounts once

Petty cash book is set up to deal with …… Payments enormous Petty cash book is set up to deal with…………payments enormous Petty cash operates on the imprest………… system Provision for depreciation has a………… balance credit Reimbursement of the petty cash float may be done on the last day

of the period or on the first day of the ……… period next

Revenue expenditure is chargeable to the trading and profit and

loss account while capital expenditure results in ………… figures

Revenue expenditure is chargeable to the trading and profit

Revenue expenditure is the day-to-day ………… costs of a

Stock included in the balance sheet is the opening stock FALSE Straight line method is also termed the fixed ………… method installment The ………… column is used to record the receipt of money into

The accrual amount is ………to the figure shown in the trial

balance when including the item in the profit and loss account added The amount paid out is then ……… to the petty cashier at the end

The asset account balance is not reduced by the

The asset account balance is reduced when the asset is sold

The asset account is reduced by the annual provision for

The bad debts account serves as a ………….point for debts written

The balance sheet will show the total of debtor after the provision

The balance sheet will show the total of debtor before writing off

The balance sheet will show the total of debtor before writing

The balance used in preparing the bank reconciliation statement is

The cash book is ………… with items revealed by the bank

statement, e.g bank charges, credit transfer, direct debit, etc updated The first step in updating the cash book is to tick the items both

appear in the cash book and bank statement True

The first step in updating the cash book is to tick the items appear

that………….in both cash book and bank statement.

The float cannot be amended, it is set as a fixed amount False

The items picked up from the bank statement are entered into the

cash book as at the last date of the period True

The items picked up from the bank statement should not appear in

The journal is a kind of book of prime entry TRUE The Journal is not a part of the double entry system; it is just a

form of Supporting the double entry diary

The Journal is not a part of the double entry system; it is just a

form of ………… supporting the double entry diary

The journal is used to record transactions that are not entered in the

The main difference between the two types of expenditure is the

………… of time the expenditure is of benefit to the business length

The main………….of depreciation are physical deterioration,

The petty cash book has ………… columns for each category of

The petty cash book is a book of ……… entry as well as a

The prepaid amount is ………… from the figure shown in the trial

balance when including the item in the profit and loss account subtracted The provision for depreciation …………up the amount of

The provision for doubtful debt has a credit balance TRUE The provision for doubtful debt is never adjusted FALSE The provisional profits may change as a result of error Correction The provisional profits may change as a result of error

The purchase and sale of fixed assets is always made diary notes on

The reconciliation process has two………… stages

The reconciliation statement will start with the balance

The reduced balance is the cost of the asset less depreciation to

The reducing balance method is also termed the………….balance

The reimbursement can only take place on the last day of the

The third step in updating the cash book is that the cash book is

………to obtain the up-to-date balance re-balanced The trading and profit and loss account only has one form to be

The use of the Journal reduces the chances of ……… a

transaction and makes fraud by book-keepers more difficult omitting The use of the petty cash book saves the cash book and ledger

accounts from being ………… with a lot of minor details overcrowded The value closing stock has got an …… on the profit for the

The value closing stock has got an effect on the profit for the

The voucher numbers are entered in ………… sequence The word ‘estimate’ in allowing for depreciation of fixed assets

means that you are estimating the working……….of the asset time

There are two ways in preparing the bank reconciliation statement TRUE There is likely to be either a ……….or a profit arising out of the

To correct the error of reversal of entries, we need to double the True

original amount in the entries made.

Totals from the analysis columns are posted to the ………

When a fixed asset is sold, there are ………… elements to take

Where business ………… (e.g telephone) are used for the owner’s

personal use, this is also regarded as drawings, and adjustments

must be made at the end of the year to reflect this facilities

With the straight line method of depreciation, the estimated

disposal value should not be allowed for in calculating the annual

Year-end ……… are necessary to give a true and fair

picture, as far as possible, of the performance of the business over

the period

performance adjustments accounts