1.When the advance payment of the enterprise is less than the amount required to pay for the purchase of goods, the deficiency should be paid. The account that should be debited at this point is ().
a.Prepaid Accounts.
b.Accounts payable.
c.Other payables.
d.Other receivables.
The answer is that the accounting treatment of a retropayment and an advance payment is the same, and both are debited prepayments.
2.Among the following receivables and provisional payments, the one that is not accounted for through the "Other Receivables" account is ().
a.Claims receivable from insurance companies.
b.Miscellaneous charges to be charged to the purchaser.
c.Advances to be collected from employees.
d.Rent receivable for rental packaging.
The answer is that option B is accounted for through the "Accounts Receivable" account.
3.If the accounts receivable for which the enterprise has made provision for bad debts cannot be recovered, and the accounting entries that should be prepared are () when they are approved for bad debt write-off according to the management authority
a.The Credit Impairment Loss account is debited and the Bad Debt Provision account is credited.
b.The Administrative Expenses account is debited and the Accounts Receivable account is credited.
c.The Bad Debt Provision account is debited and the Accounts Receivable account is credited.
d.The Bad Debt Provision account is debited and the Credit Impairment Loss account is credited.
The answer is c
4.The following statement about the Direct Resale Act is incorrect ().
a.The direct resale method is simple to handle.
b.The direct resale method does not conform to the accrual accounting basis and also conflicts with the definition of assets.
c.The direct resale method uses a certain method to recognize expected credit losses on a regular basis and include them in profit or loss for the current period.
d.The direct resale method overestimates the closing receivables to a certain extent.
The answer is that the advantage of the direct resale method is that the accounting treatment is simple, and the bad debt loss is recognized as a loss when it actually occurs, which is in line with its occasional characteristics and the characteristics of small business management. Its disadvantage is that it does not conform to the accrual basis of accounting, and there is also a certain conflict with the definition of assets. Under this method, bad debts are considered as current profits and losses only when they actually occur, resulting in false profits and losses for assets and periods. In addition, on the balance sheet, accounts receivable are reflected on a book balance rather than book value, which somewhat overestimates the closing receivables.
5.On January 1, 2022, the credit balance of the detailed account of "bad debt provision - accounts receivable" of company A was 80,000 yuan, and the actual bad debt loss in the current period was 50,000 yuan, and after the impairment test, the credit balance of the "bad debt provision - accounts receivable" account on December 31 was 160,000 yuan, and the balance of bad debt provision accrued in the current period - accounts receivable was () 10,000 yuan.
a. 3b. 8
c. 13d. 16
The answer is C6(Multiple choice) The following statements about the use of the allowance method to account for credit impairment losses are correct ().
a.Objectively, there is the possibility that enterprise managers can smooth profits and manage earnings.
b.Comply with accrual and accounting prudence requirements.
c.The balance sheet shows the net amount of receivables.
d.Some estimation factors have a certain degree of subjectivity, and the requirements for professional judgment of accounting are high.
The answer is ABCD
The use of the allowance method to account for credit impairment losses is in line with the accrual basis and accounting prudence requirements, and the net amount of receivables is presented in the balance sheet, so that users of financial statements can understand the expected recoverable amount of receivables and the prudent financial position of the enterprise. There are many factors that need to be considered in the estimation of expected credit loss, and some of the estimation factors have a certain degree of subjectivity, which may lead to the expected credit impairment loss affecting the calculation and determination of the amount of operating profit in each period, and there is an objective possibility that enterprise managers will smooth profits for earnings management or even profit manipulation and fraud, which will increase the risk of accounting profession.
7.Among the following assets, if impairment occurs, provision for bad debts should be accrued ().
a.Accounts receivable.
b.Notes receivable.
c.Accounts payable.
d.Other receivables.
The answer is ABCD
8.Among the following statements about the use of the allowance method to account for credit impairment losses, the correct one is ().
a.The allowance method meets the accrual basis and accounting prudence requirements.
b.It is conducive to the implementation of the business responsibilities of enterprise managers.
c.It is beneficial for external stakeholders to evaluate the business performance of the enterprise truthfully.
d.ECLs are determined more objectively.
The answer is ABC
Under the allowance method, there are many factors that need to be considered in the estimation of expected credit losses, and some of the estimating factors have a certain degree of subjectivity.
9.Among the following items, there are () that should be included in accounts receivable
a.Advance payment of staff travel expenses.
b.*Freight and miscellaneous charges paid in advance by the cargo unit.
c.The amount to be charged for the sale of the product.
d.Payments to be charged for services rendered to external parties.
The answer is BCD
10.Among the following items, the enterprise should be accounted for through the "other receivables" account
a.Rent receivable from the staff in advance.
b.Accidental damage to property is payable by the insurance company.
c.Rental of rental packaging receivable.
d.The deposit paid for renting the packaging.
The answer is ABCD
11.Among the following items, the enterprise should be accounted for through the "other receivables" account
a.The rent charged for renting out the packaging.
b.Utility bills paid in advance for employees.
c.Medical expenses paid in advance will be deducted from your salary.
d.Unpaid for the sale of goods.
The answer is that BC option A is accounted for through the "Other Payables" account. d"Accounts receivable".
12.In practice, the estimated credit impairment loss is usually determined based on the difference between the carrying amount of the accounts receivable and the estimated recoverable amount. （）
a.That's right.
b.Mistake.
The answer is b: the former is the book balance of accounts receivable.
13.For bill discounting, the company should usually debit or credit the "finance expense" account based on the difference between the amount actually received and the par amount of the notes receivable. （）
a.That's right.
b.Mistake.
The answer is A14If an enterprise leases fixed assets, the rent receivable should be debited to the "Other Receivables" account. （）
a.That's right.
b.Mistake.
The answer is that the rent receivable by enterprise B for leasing fixed assets is debited to the "other receivables" account and credited to the "other business income" account.