Subject: English for accounting

Level: 2
Student Name: Mahmoud Adnan Rashid mahmoud

E-mail: ma301118073@cihanuniversity.edu.iq

Q1/ Q.5. Pronouncing the English alphabet.

A
X
Q
W
H

Answer Q1/
1-(ay)/ei/
2 – (ecks)
3-(queue)/kju:/
4-(double you)
5-(aitch)

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Q2/ 2 Which principles do these sentences refer to?
1 This is accordance with a company's legal status as an 'artificial person.
2 The company's fixed assets are not for sale , so their value (the company's forced sale or break-up
value) is not relevant.
3 This makes it unnecessary to estimate current market values of assets every year.
4 This means that each company has its own financial year (BrE) or fiscal year (AmE).
5 This requires multinational companies to convert their consolidated statements into a single currency
 Answer Q2/
1-separate entity /accounting entity/economing entity

2-continuity /going-concern

3-historical cost

4-periodicity/time-period

5-unit-of-measure

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Q3/ 5 Are the following statements true or false?

1 A debit will increase the balance of asset and expense accounts.
2 A credit will decrease the balance of revenue and liability accounts.
3 Accounts receivable are increased by being debited.
4 Accounts payable normally has a debit balance.

Answer Q3/

1-true
2-false
3-true
4-false

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