Acco 310 Midterm

CONCORDIA UNIVERSITY

JOHN MOLSON SCHOOL OF BUSINESS

DEPARTMENT OF ACCOUNTING

ACCO 310/4

Winter 2011

MID TERM EXAMINATION

All sections

February 11, 2011

6:00 to 9:00 P.M.

| |Marks |Minutes |
| | | |
|Question 1 |24 |43 |
|Question 2 |25 |45 |
|Question 3 |35 |63 |
|Question 4 |16 |29 |
| |100 |180 |

Materials Allowed

• Silent, cordless calculators (financial calculators are permitted) • Translation dictionaries

QUESTION 1- 24 MARKS- 43 MINUTES
Please answer all parts of this question in your answer booklet
PART A- MULITPLE CHOICE

Select the Best Answer

1. Which of the following criteria must be met before an event or item should be recorded for accounting purposes? a. The event or item can be measured objectively in financial terms. b. They are probable. c. The event or item is an element. d. All of these must be met.

2. Which of the following is a recordable event or item? a. Changes in managerial policy b. The value of human resources c. Changes in personnel d. None of these

3. Which of the following never affects the current year’s income statement?