Accounting study
Acct 2102 Midterm 1 Study Guide
Test Format:
Multiple choice questions (42 @ 6.25 points each). Total possible points are 262.5
Maximum grade is 250! The extra points are to compensate for any weakness in the main test instrument and misunderstanding in the question wording.
Students need to bring their own scantron. Do not mark your scantron until you have selected your FINAL answer. Eraser marks confuse the scantron grading machine. All adverse consequences of eraser marks and mismarks are the student’s responsibility. Bring extra scantrons.
You are permitted to use a simple four-function calculator (cell phones are NOT simple four-function calculators). Instructors/exam proctors will check each student’s calculator while distributing the exams.
This is a closed book, closed note, and closed neighbor exam. You are NOT permitted to have scratch paper. You are NOT to look around during the exam. You are to keep your scantron sheet covered to the extent possible. You must turn in your exam and scantron with your name, your instructor’s name, and the version letter of the exam on both. You will be asked to show a picture id when you turn in your exam and scantron.
You will have 120 minutes to complete the exam.
The exam covers Chapters 11 – 13.
Skills needed to succeed:
Chapter 11:
1. Calculate payments on a loan.
2. Understand the concept and advantage of a common size measurement.
3. Calculate expected rate of return given the probability of an outcome.
4. Given situational facts, compute present and future value.
5. Given business facts, calculate the return on investment.
6. Given investment details, calculate how Iong an initial investment was growing at a certain interest rate.
7. Given the probability of an outcome, calculate the expected return/rate of return.
8. Identify and calculate future and present value of an annuity.
9. Given certain facts, identify which present value table should be used to solve
Test Format:
Multiple choice questions (42 @ 6.25 points each). Total possible points are 262.5
Maximum grade is 250! The extra points are to compensate for any weakness in the main test instrument and misunderstanding in the question wording.
Students need to bring their own scantron. Do not mark your scantron until you have selected your FINAL answer. Eraser marks confuse the scantron grading machine. All adverse consequences of eraser marks and mismarks are the student’s responsibility. Bring extra scantrons.
You are permitted to use a simple four-function calculator (cell phones are NOT simple four-function calculators). Instructors/exam proctors will check each student’s calculator while distributing the exams.
This is a closed book, closed note, and closed neighbor exam. You are NOT permitted to have scratch paper. You are NOT to look around during the exam. You are to keep your scantron sheet covered to the extent possible. You must turn in your exam and scantron with your name, your instructor’s name, and the version letter of the exam on both. You will be asked to show a picture id when you turn in your exam and scantron.
You will have 120 minutes to complete the exam.
The exam covers Chapters 11 – 13.
Skills needed to succeed:
Chapter 11:
1. Calculate payments on a loan.
2. Understand the concept and advantage of a common size measurement.
3. Calculate expected rate of return given the probability of an outcome.
4. Given situational facts, compute present and future value.
5. Given business facts, calculate the return on investment.
6. Given investment details, calculate how Iong an initial investment was growing at a certain interest rate.
7. Given the probability of an outcome, calculate the expected return/rate of return.
8. Identify and calculate future and present value of an annuity.
9. Given certain facts, identify which present value table should be used to solve