4. Which of the following statements best described the level of accuracy provided by a standard audit report with respect to errors? The audited financial statements are:
A.fully assured to be free of material errors.
B.reasonable assured to be free of all errors.
C.reasonable assured to be free of all material errors.
5. If an auditor finds that a company's financial statements have made a specific exception to applicable accounting principles, he is most likely to issue a:
7. Making any necessary adjustments to the financial statements to facilitate comparison with respect to accounting choices is done in which step of the financial statement analysis framework?
8. Accounts receivable and accounts payable are most likely classified as which financial statement elements? accounts receivable accounts payable ① assets liabilities ② revenues liabilities ③ revenues expenses
9. Annual depreciation and accumulated depreciation are most likely classified as which financial statement elements? annual depreciation accumulated depreciation ① expenses contra assets ② expenses contra liabilities ③ liabilities contra assets
A.①
B.②
C.③
A B C
A
[解析] 年度折旧是一项费用;累积折旧是一项抵销资产,通常用于抵销资产、厂房和设备的历史成本。
10. A decrease in assets would least likely be consistent with a (n):
11. A computer engineer repaired the network system in a supermarket on November 14 and sent the bill to the supermarket on December 2. If both the engineer and the supermarket prepare financial statement under the accrual method on November 30, how will they each record the transaction? computer engineer supermarket ① accrued revenue accrued expense ② accrued revenue prepaid expense ③ unearned revenue accrued expense
16. International Accounting Standard (IAS) No.1 least likely requires which of the following?
A.Neither assets and liabilities, nor income and expenses, may be offset unless required or permitted by a financial reporting standard.
B.Audited financial statements and disclosures, along with updated information about the firm and its management, must be filed annually.
C.Fair presentation of financial statements means faithfully representing the firm's transaction and events according to the financial reporting standards.
17. Which of the following statements is least likely to be one of the conclusions about the impact of a change in financial reporting standards that might appear in management's discussion and analysis?
A.Management is currently evaluating the impact of the new standard.
B.The new standard will not have a material impact on the company's financial statement.
C.Management has chosen to revise the new standard according to the requirement of the company.
19. Assume the Federal Reserve purchases $3 billion in securities in the open market. What is the maximum increase in the money supply that can result from this action, if the required reserve ratio is 25% and there is no currency drain?
A.$9 billion
B.$12 billion
C.$21 billion
A B C
B
[解析] 因此,货币供给增长的最大数额为:30亿美元×4=120亿美元。
20. The policy tool the Federal Reserve uses most often is:
A.real output and velocity increase with the money supply.
B.real output and velocity are independent of the money supply.
C.an increase in the money stock will decrease gross domestic product.
A B C
B
[解析] 美国经济学家费雪(Fisher)于1911年创立了货币数量论,并提出了著名的交易方程式(equation of exchange): MV=PY 式中,M表示流通中的货币数量;V表示货币流通速度;P表示物价水平;Y表示实际产出。等式左边MV为货币总值,等式右边PY为交易总值。 货币数量论认为,货币流通速度V和产出Y决定于制度因素,而不是货币供给。也就是说,实际产出和货币流通速度独立于货币供给,因此,本题选项B的说法是正确的。
26. According to the quantity theory of money, if nominal GDP is $3 trillion and the money supply is $0.5 trillion, the velocity of the money supply is closest to:
29. If this country adopts this policy, what are the most likely short-run effects on inflation and unemployment? unemployment rate inflation rate ① remains at 14% less than 5% ② less than 14% more than 5% ③ more than 14% remains at 5%
30. If this country adopts this policy, what are the most likely long-run effects on inflation and unemployment? unemployment rate inflation rate ① remains at 14% more than 5% ② less than 14% more than 5% ③ more than 14% remains at 5%
32. The theory that the rate of growth in potential GDP fluctuates because technology change leads to cycles in the rate of productivity growth is known as:
38. Congress enacts a program to subsidize farmers in the Midwest with an expansive spending program of $30 billion. At the same time, Congress enacts a $30 billion tax increase. Which of the following best describes the impact on the economy?
A.Lower growth due to the negative tax multiplier.
B.Higher growth due to the net positive balanced budget multiplier.
C.No effect on growth because the tax and spending multiplier effects offset.
39. Congress is concerned about delay in the effects of fiscal policy, and is considering requiring the reporting of economic statistics weekly, rather than quarterly. The new reporting period is intended to decrease the.