In the Name of God
Course: Accounting
Professor: ……………… Time: ……………..…………
Semester: ………………….. Student’s Name: ………………….
Date:………….…………..
I. Translate the following technical terms into Persian. (4)
1.advertising:……………
2.auditor:…………
3.certified:……………
4.concept:……………
5.economic:……………
6.financial:……………
7.grant:…………
8. profit:……….…
9.assets:……………
10.convention:………
11.economy:…………
12.increase:……………
13.loss:……………
14.objective:…………
15.partner:……………
16. revenue:……………
II. Translation the following sentences into Persian. (7)
1.The purpose of accounting is to provide information that will help you make correct financial
decision.
……………………………………………………………………………………………………………………………………………
……………………………………….………………..
2. Accounting is the process of preparing and analyzing financial statements based on the
transactions recorded through bookkeeping.
………………………………………………………………………………………………………………………………………………
…………………………………………
3. Managers within a business also use accounting information daily to make decisions,
although most of these managers are not accountants.
………………………………………………………………………………………………………………………………………………
…………………………………………
4. The income statement show all of the revenues of the company less the expenses, to arrive at
the bottom line, the net income.
………………………………………………………………………………………………………………………………………………
…………………………………………
5. Partnerships are very similar to proprietorships, except that instead of one owner there are
two or more owners.
………………………………………………………………………………………………………………………………………………
…………………………………………
6. The accounting records of a proprietorship are less complicated than those of a corporation
in that there is a simple capital structure and only one owner.
………………………………………………………………………………………………………………………………………………
…………………………………………
7. Sufficient and objective evidence should be available to indicate that the presented
information is reliable.
……………………………………………………………………………………………………………………………………………
……………………………………………
1
III. Fill in the blanks with the given words. (3)
capital /loss / records / owner / economic / grant
1.The company made a ……......…….. of $250,000 last year.
2. The government should attract foreign …....………..to save the economy.
3. The company’s financial ……..……….. must be up-to-date.
4. The new ……………. of the factory wants to employ 50 new workers.
5. The ………...…… growth of the country is very slow.
6. Banks are required to ……...……… loan to investors.
IV. Match the items in A with the items in B. There is one extra item in B. (2)
A
B
1. accountant ( )
a) a share in a company
2. stock ( )
b) a degree which shows your education or skill
3. certification ( )
c) someone who starts a business to make money
4. entrepreneur ( )
d) a person who analyzes financial information
5. retail ( )
e) happening four times a year
6. withdraw ( )
f) to take money out of a bank account
7. quarterly ( )
g) the process of getting something ready
8. preparation ( )
h) the sale of goods in shops to customers
i) the state of spending more than we earn
V. Read the following passage and answer the given questions. (4)
Accountants supply information to people both inside and outside the firmby issuing formal
reports that are called financial statements. The financialstatements are usually issued at least once a
year. In many cases, they are issued quarterly or often when they are necessary. A set of rules which
are called Generally Accepted Accounting Principles (GAAP) are used for reparation ofthe financial
statements.
Generally, Accepted Accounting Principles are defined as a set ofobjectives, conventions, and
principles which govern the preparation andpresentation of financial statements. These rules can be
found in volumes ofdocuments which are issued by the American Institute of Certified Public
Accountants (AICPA), the Financial Accounting Standards Board (FASB),the Internal
Revenue Service (IRS), the Securities and Exchange Commission(SEC), and some other regulatory
bodies.
I. Find a synonym for each of the following items in the passage.
1. giving:………… 2. minimally:……….
2
3. seasonally:………..4. booklets:………….
II. Check true or false.
1. Financial statements are issued for both inside and outside users.
True
False
2. GAAPs are issued quarterly or yearly.
True
False
3. GAAPs are issued by different regulatory bodies.
True
False
4. Preparation of GAAPs is governed by financial statements.
True
False
III. Complete the following sentences based on the passage.
1. Financial statements are ……………………..……… issued by …………………….. .
2. Accounting periods are often a …………………. or a year .
3. GAAP stands for ……………………………………..……………………………. .
4. AICPA, FASB, and IRS are ………………………..….which issue ………………….. .
GOOD LUCK
Khodamoradi
3