The document provides a review for a final test in an English for Accounting course. It outlines that the test will be multiple choice format with 50 questions to be completed within 60 minutes without the use of materials. It then lists the vocabulary units and sections to focus on in preparation for the test. Sample multiple choice questions are also provided covering various accounting concepts and terms. An answer key is given for two sample tests with gap-filling and reading comprehension questions.
6. Samples - Gap –filling 163
The success or (1)_______ of a business is measured in dollars. And dollars are recorded and
reported using (2)_______ . Accounting is truly the language of (3)_______ . No matter what your
role may be, if you are involved in business, you can benefit from learning accounting. That's what this
book is all about-taking the subject and making it understandable and accessible.
This book makes an excellent companion to any standard text, or it can be used as a stand-alone
volume. It is designed to present the subject in a straightforward, approachable manner. Financial
(4)_______ is an incremental process. What you learn in earlier chapters is used in later ones. There
are no shortcuts to learning financial accounting, but at the same time, if it is taught clearly, it is
not difficult.
Financial accounting involves all the steps from the original entries in the accounting records to the
preparation of financial (5)_______ . There are other types of accounting as well, such as managerial
accounting, cost accounting, and (6)_______ accounting, to name a few. These other types
(7)_______ accounting are covered in other books. The end user of financial accounting is the public;
therefore, financial accounting has a lot of rules. These rules are necessary to make the information
presented in the financial statements consistent and understandable. In contrast, in (8)_______
accounting, which is used by the managers of a business to improve the business's operations,
efficiency, and (9)_______ , there are relatively few rules. Instead, it primarily consists of
(10)_______ that have proved themselves over time.
1. A. failure B. provision C. development D. improvement
2. A. communicating B. teaching C. accounting D. budgeting
3. A. business B. accounting C. communication D. transportation
4. A. accountant B. account C. accounted D. accounting
5. A. information B. manufacture C. statements D. provision
6. A. taxing B. taxation C. taxed D. tax
7. A. of B. at C. for D. on
8. A. tax B. financial C. managerial D. cost
9. A. asset B. liability C. profitability D. inventory
10. A. technique B. techniques C. rule D. skill
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7. Mã đề: 148
It is easy to appreciate the impact of (1)_______ taxes on American business when it is realized that
many of the larger (2)_______ pay over 50 percent of their net income to the federal and state
governments in the form of income taxes. Careful planning designed to (3)_______ the tax liability to
the lowest level is thus a major concern of business. This planning is made possible by various
(4)_______ in the tax laws that offer alternative methods for handing particular transactions or
accounting procedures. One alternative may thus have a significant tax (5)_______ over another,
resulting in either a tax saving or a postponement of the tax liability. A business can pay substantially
more taxes than necessary if the wrong financial decision is made. Among these potentially significant
decisions might be included the form of (6)_______ under which to organize, whether or not to set up
multiple corporations, and which accounting methods should be used to deal with inventory and
(7)_______ .
For tax as well as accounting purposes, there are three major forms of business organization: the
individual proprietorship the partnership and the corporation. Tax laws vary considerably for each of
these; the major difference, however, is between the corporate form and the other two. There are also
nontax features that must be evaluated in choosing a form of (8)_______ . Among these are limited
liability, continuity of existence, and the ease of raising (9)_______ . The owners usually are not liable,
or personally responsible, for the actions of a corporation, since the corporation enjoys legal status as
an individual entity. Corporation can also raise capital by selling (10)_______ , known as stock in the
ownership of the company
1. A. managerial B. budget C. income D. accounting
2. A. partnership B. individual proprietorship
C. corporations D. A,B, and C are correct
3. A. increase B. decrease C. A and B are correct D. A and B are incorrect
4. A. provisions B. possessions C. developments D. improvements
5. A. advantage B. disadvantage C. A and B are correct D. A and B are incorrect
6. A. language B. business C. strategy D. entainment
7. A. depreciation B. appropriation C. information D. application
8. A. organization B. partnership C. individual proprietorship D. corporations
9. A. capital B. fiscal C. financial D. A, B and C are correct
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8. 10. A. securities B. stocks C. shares D. markets
Reading comprehension: 5 questions
Topics: assets, inventories, insurance, and financial statements
THE END
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