This document contains an exam for an English for Accounting midterm. It has three sections that assess accounting concepts, accounting jobs, and accounting principles. The first section matches accounting terms to their definitions. The second asks students to name accounting jobs and choose the correct descriptions. The third has students read a magazine article and mark statements about accounting standards as true or false.
This document contains an exam for an English for Accounting midterm. It has three sections that assess accounting concepts, accounting jobs, and accounting principles. The first section matches accounting terms to their definitions. The second asks students to name accounting jobs and choose the correct descriptions. The third has students read a magazine article and mark statements about accounting standards as true or false.
This document contains an exam for an English for Accounting midterm. It has three sections that assess accounting concepts, accounting jobs, and accounting principles. The first section matches accounting terms to their definitions. The second asks students to name accounting jobs and choose the correct descriptions. The third has students read a magazine article and mark statements about accounting standards as true or false.
This document contains an exam for an English for Accounting midterm. It has three sections that assess accounting concepts, accounting jobs, and accounting principles. The first section matches accounting terms to their definitions. The second asks students to name accounting jobs and choose the correct descriptions. The third has students read a magazine article and mark statements about accounting standards as true or false.
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FUNDACIÓN UNIVERSITARIA INTERNACIONAL DEL TRÓPICO CÓDIGO
AMERICANO Unitrópico RE-FR-300 PERSONERÍA JURÍDICA Nº 1311 DE JUNIO DE 2002. CÓDIGO ICFES 2743. NIT 844.002.071-4 PROCESO FORMACIÓN FECHA 19/09/2018 REGISTRO PARCIAL VERSIÓN Vs-001
MIDTERM EXAM
ENGLISH FOR ACCOUNTING
NAME : _______________________________________ CODE :___________________ DATE :_______________
ACCOUNTING CONCEPTS
1. Match the following accounting terms to their corresponding meaning.
a) net income ____The financial statement that reports the
revenues and expenses for a period of time b) Balance sheet such as a year or a month is the c) service or goods have been delivered d) Income statement ____Under the accrual basis of accounting, revenues are reported in the accounting e) expense matches the revenues or is used up period when the
____Under the accrual basis of accounting,
expenses are reported in the accounting period when the
____Revenues minus expenses equals.
____The financial statement that reports the
assets, liabilities, and stockholders’ (owner’s) equity at a specific date is the ACCOUNTING JOBS
2. A. Name the different jobs available for accountants:
a) ……………………………………………………..
b) ……………………………………………………..
c) ……………………………………………………..
d) ……………………………………………………..
e) ……………………………………………………..
f) …………………………………………………….. B. Choose the correct option for the following concepts :
1. A bookkeepers are the people who :
a) Work for a company’s back office.
b) Help their clients to fill out tax returns.
c) Manage a company’s financial plan.
2. Who are in charge of helping people make smart investments ?
a) Budget Analysts.
b) Trainees or file clerks.
c) Financial Advisors
3. Who are in charge of helping clients to fill out their tax returns ?
a) Internal Auditors
b) Bookkeepers
c) Tax Accountants
3. ACCOUNTING PRINCIPLES
Read the following magazine article. Then, mark the statements written below as true (T) or false (F). 1.____________ Europe and the United States have different accounting standards.
2.____________ The FASB creates standardized rules for the governing bodies.
3.____________ IASB accounting standards follow a principles based approach.
