TIẾNG ANH CHUYÊN NGÀNH 2

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 1 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.

3

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