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 various reasons dishonored 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 premiums have been paid in advance True A debit balance on the insurance account means that insurance premiums have been paid in advance True 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 reason for the entry narrative A petty cash book voucher has to be completed and ……… before payment is made authorized A prepaid expense is added to the expense item from the trial balance FALSE 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 stale cheque might be a dishonored one A……… of a debt may be written off as a bad debt if the debtor is not able to pay all of what is owed TRUE part 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 Journal Proper General 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 called unpresented cheques False An accrual of expense remains ………at the end of that period unpaid An accrued expense is shown amongst the liabilities in the balance sheet TRUE An accrued expense is shown as an amount due within year in the balance sheet True An accrued expense represents an expense paid in advance False An error in addition is one not affecting the trial balance agreement An error overstating an expense item would also overstate the net profit FALSE False An error understating an income item would also understate capital TRUE An error understating the purchases amount would overstate gross profit TRUE An expense accrual appears in the balance sheet as a……… current liability An expense prepayment appears in the balance sheet as a…………… current asset An income accrual appears in the balance sheet as a………… current asset An income prepayment appears in the balance sheet as a…………… current liability 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 Any decrease in the provision for doubtful debt will be seen as an expense to the firm Any decrease in the provision for doubtful debts is a ……… to the firm expense FALSE benefit Any increase in a depreciation provision is credited to the Profit and Loss account FALSE Any increase in the provision for doubtful debt will be debited to the P/L account TRUE 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 sheet FALSE 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 balance sheet Closing stock is included in the trial balance Costs of business belong to capital expenditure Debts may be written off at……………times throughout the year TRUE False FALSE different Depreciation is the estimate of the …………in value of fixed assets over a period of time fall Depreciation provision account has a credit balance True True Depreciation provision account has a credit balance Differences in the cash book and bank statement balances could be due to time……… differences 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 private purposes facilities During the period, the petty cashier can make payments up to the value of the ………… float 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 affect the ……………… of profits calculation Errors in figures in the trading and profit and loss account will affect the calculation of profits True Errors of commission occur when a transaction is entered in the wrong class of account False Errors of duplication occur when a transaction is entered twice in the book Errors of original entry happen when the entries have been made with the amount being entered wrongly in one account TRUE False Expenditure incorrectly treated as capital expenditure will overstate the …………… on the balance sheet assets Expenditure incorrectly treated as capital expenditure will overstate the assets on the balance sheet True 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 accounting period matched 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 form, it is called the …….form horizontal 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 amount to be received on……… sale In straight line method to calculate depreciation, the eventual disposal………… is estimated value 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 depreciation to date cost In the balance sheet, the net profit is added to capital In the balance sheet, the net profit is added to capital In the balance sheet, the net profit is added to………… TRUE 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 column TRUE 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 in the books until……… changed 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 for the balance sheet increased Revenue expenditure is chargeable to the trading and profit and loss account Revenue expenditure is the day-to-day ………… costs of a True running business 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 petty cash receipts 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 of the period reimbursed The asset account balance is not reduced by the ………… provision for depreciation annual The asset account balance is reduced when the asset is sold or……… scrapped The asset account has a………….balance debit The asset account is reduced by the annual provision for depreciation False The bad debts account serves as a ………….point for debts written off over the year collection The balance sheet will show the total of debtor after the provision for doubtful debts being deducted False The balance sheet will show the total of debtor before writing off bad debts FALSE The balance sheet will show the total of debtor before writing off bad debts FALSE The balance used in preparing the bank reconciliation statement is that of the unupdated cash book False 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 that………….in both cash book and bank statement appear 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 …………statement reconciliation 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 other books of ………… entry original 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, economic factors and time factors causes The petty cash book has ………… columns for each category of expenditure analysis The petty cash book is a book of ……… entry as well as a ledger account original 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 depreciation year by year build 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 The provisional profits may change as a result of error Correction correction …………… The purchase and sale of fixed assets is always made diary notes on in the journal False The reconciliation process has two………… stages The reconciliation statement will start with the balance as………… the bank statement per The reduced balance is the cost of the asset less depreciation to ………… date The reducing balance method is also termed the………….balance method diminishing The reimbursement can only take place on the last day of the period (e.g the month) TRUE 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 display FALSE 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 period effect The value closing stock has got an effect on the profit for the period TRUE 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 There is likely to be either a ……….or a profit arising out of the sale of a fixed asset TRUE loss To correct the error of reversal of entries, we need to double the original amount in the entries made True Totals from the analysis columns are posted to the ……… accounts at the end of the month ledger When a fixed asset is sold, there are ………… elements to take account of 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 depreciation provision FALSE 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