Deck 5: Standard English: Grammar, Punctuation, and Spelling

Question 1

Some of these sentences have verb errors, either subject-verb agreement or shifts in tense or mood. Identify these errors and correct the sentences.
1. Problems with implementing the new inventory system has frustrated everyone.
2. If we hired a consultant, we will be able to design a new system.
3. Neither the president nor the supervisors understand the new policy.
4. One problem we found in our reviews of the records were that revenues were not always recorded in the proper period.
5. A statement with supplementary disclosures provide additional information to investors.
6. The physical flow of goods generally follow the FIFO pattern.
7. Each of these statements is prepared according to GAAP.
8. We reviewed the client's system of internal control; then we will recommend ways to improve it.
9. The future benefits provided by the bond is partly due to its high interest rate.
10. Restating asset values to current costs results in realized and unrealized holding gains and losses.

Answer 1

Subject and Verb should agree with the number, a singular subject will have a singular verb (is, has etc) while plural subject will have a plural verb (are, have etc.).
If two singular subjects are used, plural verb will be needed.
For example- Person A was reading The Alchemist in the bus.
A cow and a dog were fighting on the street.
1.
Problems with implementing the new inventory have frustrated everyone.
Explanation: Problems is plural in nature so it needs to agree with verb 'have'. Therefore 'have' will replace 'has'.
2.
The correct sentence is: If we hire a consultant, we will be able to design a new system.
Explanation: Hired, here is past tense and the sentence continues in future tense therefore hired is changed to hire in simple present tense.
3.
The sentence is correct.
Explanation: In the sentence, subject and verb agree together. No correction required.
4.
The correct sentence is: One problem we found in the reviews of our records was that revenues were not always recorded in the proper period.
Explanation: In the above sentence, one problem is referred so the verb will be singular (was) and not the plural (were).
5.
The correct sentence is: A statement with supplementary disclosures provides additional information to investors.
Explanation: A 'statement' is singular so instead of provide, provides will be placed. In simple present tense, singular subject follows s or es.
6.
The correct sentence is: The physical flow of the goods generally follows the FIFO
pattern.
Explanation: Flow being singular in nature will be followed by singular verb of follow 'follows' and not 'follow'.
7.
The sentence is correct.
Explanation: In the sentence, verb and subject agree together.
8.
The correct sentence is: We review the client's system of internal control; then we will recommend the ways to improve.
Explanation: Here, reviewed is in past tense followed by future tense, which is incorrect, so present tense will be used here. Hence, review will be placed after we.
9.
The future benefits provided by the bond are partly due to its high interest rate.
Explanation: Benefits is plural in nature so verb 'are, will replace 'is'.
10.
The sentence is correct.
Explanation: the subject and verb agree in the sentence. No correction required.

Question 2

Correct any pronoun errors you find in the following sentences.
1. When an investor or creditor wishes to compare two companies, they review the companies' financial statements.
2. Hamilton Exports, Inc., increased their advertising this year.
3. The FASB deals with research and development costs in its Accounting Standards Codification ® Topic 730.
4. Management is interested in improving the revenue figures for their report to the stockholders.
5. Each accountant is required to complete his report on time.
6. The Smallwood Corporation has greatly increased it's advertising expense.
7. A switch to LIFO usually results in a lower income tax liability and a lower inventory figure on the balance sheet; this would be important to our company.
8. The Board of Directors will hold its next meeting in July.
9. Every corporation coming under SEC regulations must follow certain procedures in preparing their financial statements.
10. Everyone registering for the convention will receive a package of information when they arrive.

Answer 2

A pronoun is used as a replacement of a noun. Pronoun helps to avoid recurrence. It is reliant on a predecessor. It can be further classified into subjective, objective, possessive, demonstrative, interrogative, indefinite, relative and reflexive pronoun.
Examples- Pronoun: N was driving a car. N met with an accident. N was taken to the hospital.
Revised: N was driving a car; she met with an accident, and was taken to the hospital.
1.
The correct sentence is: When an investor or creditor wishes to compare two companies, he reviews the companies' financial statements.
Explanation: In the above sentence, one investor or creditor is talked about therefore, instead of they, he will be used.
2.
The correct sentence is: H. Inc increased its advertising this year.
Explanation: H is a name of a company so it will have pronoun it and not theirs.
3.
The sentence is correct.
Explanation: It has followed correct use of pronouns so no need of correction.
4.
The correct sentence is: Management is interested in improving the revenue figures for its report to the stockholders.
Explanation: Management is not a person so it will use pronoun its and not theirs
5.
The sentence is correct.
Explanation: It has followed correct use of pronouns so no need of correction
6.
The sentence is correct.
Explanation: It has followed correct use of pronouns so no need of correction
7.
The sentence is correct.
Explanation: It has followed correct use of pronouns so no need of correction
8.
The correct sentence is: The Board of Directors will hold their next meeting in July.
Explanation: The BODs are person and not a thing so we will replace it's by their.
9.
The correct sentence is: Every corporation coming under SEC regulations must follow certain procedures in preparing its financial statements.
Explanation: In the given sentence, corporation is a separate entity and it will use its instead of theirs.
10.
The correct sentence is: Everyone registering for the convention will receive a package of information when they arrive.
Explanation: In the sentence, plural people are been talked about so plural simple present of verb receive will be used.

Question 3

Revise the following sentence for parallel grammatical structure:
The hiring decision will be based on three criteria: work experience, education, and whether the applicants have good communication skills.

Answer 3

Parallel structure includes numerous actions that need to be grammatically balanced. Correct parallel structure helps to create a well structured sentence with rhythm and also reduces the ambiguity. Parallelism is mostly used in rhetorical sense.
Revised sentence -
The hiring decision will be based on three criteria: work experience, education, and good communication skills of the applicants.
Explanation: In the above sentence, three qualities of the applicants are taken under consideration but applicant was mentioned only with the third quality so the sentence is incorrect. Correct sentence will mention the three qualities and then about the said person for the qualities.

Question 4

a. Complete the following chart.
b. Use the words from the chart to fill in these sentences. The singular form of the correct word is given in the parentheses.
1. (CPA) __________ from all over the country will be at the convention.
2. (business) Investors examine a __________ statements to determine its financial condition.
3. (cost) Record all these __________ in the proper accounts.
4. (statement) Which of the __________is in error
5. (cost) What is the replacement __________ of this machine
6. (risk) Investors in these bonds must accept certain __________.
7. (industry) Research and development are crucial in many __________.
8. (year) We should see a profit in two __________ time.
9. (company) The Board of Directors considered the __________ pension plan.
10. (statement) We are making changes in the two __________ totals.

Question 5

Punctuate the following sentences correctly.
1. The Board of Directors met December 12, 2014 in Charlotte North Carolina.
2. To increase the revenues from its new product the company introduced an advertising campaign in New York Chicago and Los Angeles.
3. The biggest problem in our firm however is obsolete inventories.
4. The firm hired two new auditors thus the work will be finished on time.
5. For example Elixir Products should consider the FASB's Accounting Standards Codification ® Topic 840 which deals with leases.
6. The auditors revealed several problems in Thompson Company's financial records such as its depreciation policy its handling of bad debts and its inventory accounting.
7. The presidents letter contained the following warning "If our revenues don't increase soon the plant may be forced to close"
8. "We're planning a new sales strategy" the manager wrote in reply.
9. We have decided not to invest in the Allied bonds at this time instead we are considering Blackstone's common stocks.
10. Although our revenues increased during June expenses rose at an alarming rate.

Question 6

Identify and correct any misspelled words in the following list. Look up any words you are unsure of; not all of these words were included in the chapter.
1. its (the possessive pronoun)
2. recieve
3. occured
4. seperate
5. accural
6. advice (the verb)
7. existance
8. principle (the rule)
9. cost (plural)
10. mislead (past tense)
11. advise (the noun)
12. effect (the noun)
13. thier
14. intrest
15. trail balance

Question 7

Revise the following sentences, as needed, using the guidelines covered in this chapter.
1. The letter was dated May 8 2014 and mailed from Boston Massachusetts.
2. The guidelines will explain who is eligible for the benefits, costs, and how to apply.
3. We have increased our advertising thus we hope to sell more of our product.
4. The report was signed by the controller the internal auditor and the vice president.
5. Neither Susan nor Lisa are on the committee.
6. This is the employee's parking lot.
7. Either the computers or the printer are malfunctioning.
8. The benefits of this health insurance policy is obvious to employees.
9. We review the client's system of internal control. Then we will recommend ways to improve it.
10. Three new procedures were used to improve the internal control system. This was the responsibility of Hugh Tran.

Question 8

Revise the following memo, using the guidelines you've studied in this and other chapters. Your goal will be to produce a more effective memo.

Question 9

Join these independent clauses together in three ways.
we should file our state income taxes by April 15
for our federal taxes we can request an extension

Question 10

Identify and correct fragments, comma splices, or fused sentences. Some sentences are correct.
1. The accounting department had added several new employees, thus, we had a training session.
2. To improve our profits; therefore, we reduced expenses.
3. The proposal was unclear, so the Board requested additional information.
4. Tax season is our busiest time of the year everyone works long hours.
5. After the president announced the new policy, employees became worried.
6. Although, the new equipment has improved our rate of production.
7. The reason for our poor profit performance being that the market is saturated.
8. Accountants write many letters as part of their professional responsibilities, for example, they may write letters to the IRS.
9. Two managers postponed their vacations, and thus we were able to handle the emergency.
10. Although we increased our advertising, sales did not improve.