一,单选题
1. The inventory method that assigns the most recent costs to cost of good sold is
A. FIFO
B. LIFO
C. average
D. specific identification

2. Cash investments made by the owner to the business are reported on the statement of cash flows in the
A. financing activities section
B. investing activities section
C. operating activities section
D. supplemental statement

3. The primary purpose of a stock split is to （ ）
A. increase paid-in capital
B. reduce the market price of the stock per share
C. increase the market price of the stock per share
D. increase retained earnings

4. Which of the following financial statements reports information as of a specific date?
A. income statement
B. statement of owner's equity
C. statement of cash flows
D. balance sheet

5. Accumulated Depreciation ( )
A. is used to show the amount of cost expiration of intangibles
B. is the same as Depreciation Expense
C. is a contra asset account
D. is used to show the amount of cost expiration of natural resources

6. Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?
A. net income is understated
B. net income is overstated
C. cost of merchandise sold is understated
D. merchandis

7. On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the （ ）
A. Uncollectible accounts expense for the year
B. total of the accounts receivables written-off during the year
C. total estimated uncollectible accounts

8. For accounting purposes, the business entity should be considered separate from its owners if the entity is（ ）
A. a corporation
B. a proprietorship
C. a partnership
D. all of the above

9. Financial statements in which financial data for two or more companies are combined as a single entity are called
A. conventional statements
B. consolidated statements
C. audited statements
D. constitutional statements

10. When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds are
A. convertible bonds
B. unsecured bonds
C. debenture bonds
D. callable bonds