单选题 (单选题)
What is the accounting definition of losses? ( )

A、 Increases in net assets from activities outside the enterprise's normal business activities
B、 Decreases in net assets from regular operating activities
C、 Decreases in net assets from activities outside the enterprise's normal business activities
D、 Expenses
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单选题 (单选题)
What is the right order to prepare financial statements? ( )

A、Income statement, balance sheet, statement of retained earnings, statement of cash flow.
B、Statement of cash flow,income statement,statement of retained earnings,balance sheet.
C、Balance sheet,income statement, statement of retained earnings,statement of cash flow.
D、Income statement, statement of retained earnings, balance sheet, statement of cash flow.

单选题 (单选题)
In general, in what period should costs be expensed? ( )

A、The same period in which the related revenue is recognized
B、The period in which they are paid for
C、The same period in which they are incurred
D、The period after the related revenue is recognized

单选题 (单选题)
Suppose a company took out a loan from a local bank for $1,000,000.This loan would be paid during the next 5 years.The correct journal entry for this transaction is ( )

A、debit note receivable
B、credit cash
C、credit note payable
D、debit account receivable

单选题 (单选题)
If a corporation made a credit sale to a customer for $300,000, which of the following is the correct journal entry?( )

A、Debit accounts receivable.
B、Credit depreciation expense.
C、Debit cash.
D、Credit notes payable.

单选题 (单选题)
When is revenue recognized under the percentage-of-completion method of recognizing revenue from long-term construction contracts? ( )

A、Revenue is recognized when the construction project is completed and all costs are known with certainty
B、Revenue is recognized as soon as the contract price is known
C、Revenue is recognized as the progress payments are received from the customer
D、Revenue is recognized in each period based on an estimate of the amount of work completed in that period

单选题 (单选题)
Under IFRS, accounting is based on ( )

A、cash basis
B、accrual basis
C、asset basis
D、auditing basis

单选题 (单选题)
When the coupon rate is over the market rate, which of the following is not correct? ( )

A、The issuer can receive more cash than the bonds’ face value.
B、The bond should be issued at a premium.
C、None of the above.
D、The bond should be issued at a discount.

单选题 (单选题)
Issuing bonds is a/an ( )

A、financing activity
B、operating activity
C、investing activity
D、payment activity