Passage 5Questions l9—33
　　● 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 l9—33, mark one letter(A, B, C or D)on your Answer Sheet.
　　●There is an example at the beginning.
　　Under the cash (0)______. 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 Aliens open a hardware store on January l, Year l. The firm receives $20,000 (21)______ cash from the Allens 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 l2 percent per year. The firm rents a store building on January l, and pays 2 months’ rent of $4,000 (23)______. On January l, it also pays the premium of $ 2,400 for property and liability insurance coverage for the year (24)______ December 31, Year l. 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 accounting .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 at income taxes.
　　Example:
　　l    A basis    B base    C bases     D way
　　19. A. by using up　　　　B. expenses　　　　　C. by spending　　　　　　D. expense
　　20. A. similar　　　　　　B. a lot of　　　　　C. a large number of　　　D. Different
　　21. A. by means of　　　　B. on　　　　　　　　C. within　　　　　　　　 D. in
　　22. A. with　　　　　　　 B. by　　　　　　　　C. at　　　　　　　　　　 D. in
　　23. A. in advance of　　　B. ahead of　　　　　C. in advance　　　　　　 D. in front
　　24. A. ended　　　　　　　B. ending　　　　　　C. to end　 　　　　　　　D. while ending
　　25. A. of which　　　　　 B. in which　　　　　C. with which　　　　　　 D. of that
　　26. A. expenses　　　　　 B. money　 　　　　　C. rent　　　　　　　　　 D. cash
　　27. A. sell off　　　　　 B. sold　　　　　　　C. is sold　　　　　　　　D. was sold
　　28. A. the same　　　　　 B. different　　　　 C. like　　　　　　　　　 D. other
　　29. A. relatively　　　　 B. relative to 　　　C. been relative to 　　　D. in relation to
　　30. A. so that　　　　　　B. such that　　　　 C. such as　　　　　　　　D. for the purpose of
　　31. A. render　　　　　　 B. pay for　　　　　 C. put into　　 　　　　　D. bring
　　32. A. treat as　　　　　 B. pay for　　　　　 C. pay back　　　　　　　 D. treat
　　33. A. when purchasing　　B. when purchased　　C. when purchase　　　　　D. which purchased

发布日期：2022-06-16

题王网让考试变得更简单

扫码关注题王，更多免费功能准备上线！