rsm219 2012 term test2
University of Toronto
Joseph L. Rotman School of Management
October 25, 2012
RSM219
Financial Accounting
Duration: 1 hour 50 minutes
Aids allowed: Non-programmable calculator
Instructions:
Please print your name, student number day and time of your tutorial in the space provided.
There are 10 multiple choice and 8 problems. Please use the space provided below for your answer to the multiple choice questions.
You must use a pen. Do not use WHITEOUT.
Clearly show all computations in the test paper in order to obtain full marks for the problems.
Tests written in pencil will not be considered for remarking.
_______________________________ _______________________________ LAST NAME FIRST NAME (registered name)
________________________________ ______________________________
Student number Tutorial Section
Marks: Answers to the Multiple Choice Questions
Part A (10 marks) 1.______ _ 6._______
Part B (3 marks) 2._______ 7._______
Part C (11 marks) 3._______ 8._______
Part D (6 marks) 4. _______ 9._______
Part E (10 marks) 5. _______ 10. _______
Part F (6 marks)
Part G (4 marks)
Part H (10 marks)
Part I (5 marks)
Total (65 marks)
Part A (10 marks)
1. What does the standard setters use to deductively justify new accounting standards?
a) The notes to the financial statements.
b) The audit report
c) The conceptual framework
d) The CICA Handbook
2. On the statement of cash flows, the repayment of long-term obligations would be considered:
a) A financing activity
b) An investing activity
c) An operating activity
d) A reduction in a liability
3. Which of the following statements about accumulated amortization is NOT true?
a) It involves substantial use of estimates by managers
b) It records the portion or how much of the asset has been used up.
c) It is reflected on the balance sheet.
d) It helps
Joseph L. Rotman School of Management
October 25, 2012
RSM219
Financial Accounting
Duration: 1 hour 50 minutes
Aids allowed: Non-programmable calculator
Instructions:
Please print your name, student number day and time of your tutorial in the space provided.
There are 10 multiple choice and 8 problems. Please use the space provided below for your answer to the multiple choice questions.
You must use a pen. Do not use WHITEOUT.
Clearly show all computations in the test paper in order to obtain full marks for the problems.
Tests written in pencil will not be considered for remarking.
_______________________________ _______________________________ LAST NAME FIRST NAME (registered name)
________________________________ ______________________________
Student number Tutorial Section
Marks: Answers to the Multiple Choice Questions
Part A (10 marks) 1.______ _ 6._______
Part B (3 marks) 2._______ 7._______
Part C (11 marks) 3._______ 8._______
Part D (6 marks) 4. _______ 9._______
Part E (10 marks) 5. _______ 10. _______
Part F (6 marks)
Part G (4 marks)
Part H (10 marks)
Part I (5 marks)
Total (65 marks)
Part A (10 marks)
1. What does the standard setters use to deductively justify new accounting standards?
a) The notes to the financial statements.
b) The audit report
c) The conceptual framework
d) The CICA Handbook
2. On the statement of cash flows, the repayment of long-term obligations would be considered:
a) A financing activity
b) An investing activity
c) An operating activity
d) A reduction in a liability
3. Which of the following statements about accumulated amortization is NOT true?
a) It involves substantial use of estimates by managers
b) It records the portion or how much of the asset has been used up.
c) It is reflected on the balance sheet.
d) It helps