题目内容
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[判断题]
Under cash basis, no adjustment is needed for the transaction with timing differences.
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发布时间：2022-04-06
题目内容
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更多“Under cash basis, no adjustmen…”相关的问题
第4题
Under the accrual basis of accounting
A．cash must be disbursed before an expense is recognizeD
B．profit is calculated by matching cash outflows against cash inflows．
C．events that change a company’s financial statements are recognized in the period they occur rather than in the period in which cash is paid or receive
D．the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles．
第5题
Under the accrual basis of accounting
A．cash must be disbursed before an expense is recognizeD
B．profit is calculated by matching cash outflows against cash inflows．
C．events that change a company’s financial statements are recognized in the period they occur rather than in the period in which cash is paid or receive
D．the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles．
第6题
A company sold warehouse premises at a loss during a financial period. How would this tran
saction be included in a statement of cash flows for the period that complies with IAS7 Statements of Cash Flows and that uses the indirect method to present cash flows from operating activities？
点击查看答案
A、Loss on disposal Proceeds from sale Deduct as an adjustment in the calculation of Include in cash flows from investing activities cash flows from operating activities
B、Loss on disposal Proceeds from sale Deduct as an adjustment in the calculation of Include in cash flows from operating activities cash flows from operating activities
C、Loss on disposal Proceeds from sale Add as an adjustment in the calculation of Include in cash flows from investing activities cash flows from operating activities
D、Loss on disposal Proceeds from sale Add as an adjustment in the calculation of Include in cash flows from operating activities cash flows from operating activities
第7题
The system of preparing financial statements based on recognizing revenues when the cash is received and reporting expenses when the cash is paid is called:
A、Accrual basis accounting.
B、Operating cycle accounting.
C、Cash basis accounting.
D、Revenue recognition accounting.
E、Current basis accounting.
第8题
？Read the article about the cash basic of accounting.？Choose the best word to fill each ga
？Read the article about the cash basic of accounting.
？Choose the best word to fill each gap, from A, B, C or D.
？For each question 19—33, mark one letter (A, B, C or D) on your Answer Sheet.
？There is an example at the beginning.
Under the cash basis of accounting, a firm recognizes revenues from selling goods and providing Services in the period when it receives cash from customers. It reports (19) in the period when it makes cash expenditures for merchandise, salaries, insurance, taxes, and (20) items. To illustrate the measurement of performance under the cash basis of accounting, consider the following example.
Donald and Joanne Allens open a hardware store on January 1, Year 1. The firm receives $20,000 (21) cash from the Aliens and borrows $12,000 from a local bank. It must repay the loan on June 30, Year 1, with interest charged (22) the rate of 12 percent per year. The firm rents a store building on January 1, and pays 2 months' rent of $4,000 (23) . On January 1, it also pays the premium of $ 2,400 for property and liability insurance coverage for the year (24) December 31, Year 1. During January it acquires merchandise costing $40,000, (25) it purchases $26,000 for cash and $ 14,000 on account. Sales to customers during January total $50,000, of which $34,000 is for (26) and $16,000 is on account. The acquisition cost of the merchandise (27) during January is $32,000,and various employees receive $5,000 in salaries.
Lawyers, accountants, and (28) professionals are the principal entities that use the cash basis of ac counting. These professionals have (29) small investments in multiperiod assets, (30) buildings and equipment, and usually collect cash from clients soon after they (31) services. Most of these firms actually use a modified cash basis of accounting, under which they (32) the costs of buildings, equipment, and similar items as assets (33) .
Most individuals use the cash basis of accounting for the purpose of computing personal income and person al income taxes.
(19)
A．by using up
B．expenses
C．by spending
D．expense
