单选题 Under the cash basis of accounting, a firm recognizes revenues from selling goods and providing Services in the period when it receives cash from customers. It reports (19) in the period when it makes cash expenditures for merchandise, salaries, insurance, taxes, and (20) items. To illustrate the measurement of performance under the cash basis of accounting, consider the following example.
Donald and Joanne Allens open a hardware store on January 1, Year 1. The firm receives $20,000 (21) cash from the Aliens and borrows $12,000 from a local bank. It must repay the loan on June 30, Year 1, with interest charged (22) the rate of 12 percent per year. The firm rents a store building on January 1, and pays 2 months' rent of $4,000 (23) . On January 1, it also pays the premium of $ 2,400 for property and liability insurance coverage for the year (24) December 31, Year 1. During January it acquires merchandise costing $40,000, (25) it purchases $26,000 for cash and $ 14,000 on account. Sales to customers during January total $50,000, of which $34,000 is for (26) and $16,000 is on account. The acquisition cost of the merchandise (27) during January is $32,000,and various employees receive $5,000 in salaries.
Lawyers, accountants, and (28) professionals are the principal entities that use the cash basis of ac counting. These professionals have (29) small investments in multiperiod assets, (30) buildings and equipment, and usually collect cash from clients soon after they (31) services. Most of these firms actually use a modified cash basis of accounting, under which they (32) the costs of buildings, equipment, and similar items as assets (33) .
Most individuals use the cash basis of accounting for the purpose of computing personal income and person al income taxes.

【正确答案】 B
【答案解析】这里的句法要求填一个名词，下文有同义词 expenditures。expenses常用复数形式表示各种开支。
【正确答案】 A
【答案解析】本句列举了几个开支项目：merchandise, salaries, insurance, taxes。因此，在items(项目)前面选填similar。
【正确答案】 D
【答案解析】介词in表示方式、形式。in cash意为“用现金或以现金的方式”。
【正确答案】 C
【答案解析】rate前常用介词at：at the rate of。另有at any rate，无论如何。
【正确答案】 C
【答案解析】表示“提前”的短语是in advance。如six days in advance(提前6天)。pay … in advance表示“预付”。
【正确答案】 B
【答案解析】这里根据语法关系只能填现在分词ending。
【正确答案】 A
【答案解析】这是一个非限定性定语从句。如非限定性定语从句的先行词是指物(即不是指人)的话，常用 which，它前面可以有介词，如of/in/with等。of which表示所属关系，下文有类似的结构。
【正确答案】 D
【答案解析】从前一句中的for cash... on account便可知这里应填cash。
【正确答案】 B
【答案解析】只有填入sold整个句子才符合语法规则。
【正确答案】 D
【答案解析】前面的两个名词lawyers和accountants指两种职业的人，other professionals表示其他职业的人。
【正确答案】 A
【答案解析】本句的语法结构要求用副词，relatively的意思是“相对地”。
【正确答案】 C
【答案解析】从前后的意思来判断，这里要用列举的词，因为building和equipment都是assets。
【正确答案】 A
【答案解析】按常理，先服务后收费。service常和render搭配：render service(提供服务)。
【正确答案】 D
【答案解析】短语treat... as的意思是“把……当作……看待/对待”。He is treated as traitor．他被看成叛徒。
【正确答案】 B
【答案解析】这里填时间状语when purchased。purchased是过去分词，表示被动。when purchased相当于从句when they are purchased。