FINANCIAL ACCOUNTING 1 SAMPLE MIDTERM TIME: 90 MINUTES Question Type Possible Marks 1-15 Multiple Choice 16 16 Journal Entries 10 17 Adjusting Entries 6 18 Closing Entries 3 19 Financial Statements 20 20 Other 5 Total Achieved 60 Letter Grade NO EXPLANATIONS ARE REQUIRED FOR JOURNAL ENTRIES. NAME ____________________________________ DATE _____________________________ ACCT 110 - Mock Midterm Page 1 1 – 15 MULTIPLE
Premium Balance sheet Double-entry bookkeeping system Liability
ACC 491 FINAL EXAM 1)If reported sales for 2010 erroneously include sales that occur in 2011‚ the assertion violated on the 2010 statements would be 2)The rights and obligations assertion applies to 3)Which of the following assertions is NOT made by management in placing an item in the financial statements 4)Section 11 of the Securities Act of 1933 uses the term material fact to limit the amount of information required. Under the Act‚ the standard used to determine an items materiality 5)Individuals
Premium Auditing Audit
Comparing and contrasting current and noncurrent Troy Martinez ACC/400 September 25‚ 2010 Debra Latimore University of Phoenix Comparing and contrasting current and noncurrent What are current assets? Current assets are also known as liquid assets. The most common of current assets can be found in the Accounts Receivables department. They can be found in the form of invoices. Current assets are any assets that can be turned into cash in less than a year. Other
Premium Balance sheet Generally Accepted Accounting Principles Asset
| | | | |NOTE |Course picked up midterm. | |October 10 / 15 |Lecture: Queuing | |
Premium Bankruptcy United States bankruptcy law Homework
papers was not anything new to me. Back in middle school and high school‚ I had written plenty of analysis papers for both science and writing class. Therefore‚ for the midterm‚ I didn’t do a great deal of preparation for the organization and that is something I honestly didn’t need to worry about. However‚ looking back at my midterm I feel like the one thing that I should have study and the one undoubtedly will cause me a load of error is the grammar. Grammar was always something that I didn’t necessarily
Premium
ACC 455 FINAL EXAMS FOR ANSWERS VISIT: www.finalexamguideline.com 1) Regulations are A. equal in authority to legislation if interpretative B. equal in authority to legislation if statutory C. equal in authority to legislation D. presumed to be valid and to have almost the same weight as the IRC 2) Identify which of the following statements is false. A. All are false. B. Members from both the House and
Premium Tax Corporation Taxation
ACC 497 Final Exam Copy this link to your browser and download http://www.finalexamguide.com/ACC-497-Final-Exam-336.htm 1) The uniform law‚ issued in 1984 by the Committee on Corporate Laws of the American Bar Association‚ that regulates the formation‚ operation‚ and termination of corporations is 2) Which of the following statements is true? 3) Which of the following statements is true? 4) What effect would a decrease in interest rates by the Federal Reserve most likely have
Premium Inventory Balance sheet Audit
Hanoi University faculty of management and tourism MIDTERM TEST Business Modeling STUDENT FULL NAME ___________________________________________ID______________MAJOR:______ TUTOR:_________________________________ TUT:_______ DATE: ______________ TIME: 30 MINS Instruction: - You are required to complete the midterm test (including section A and B) by using Excel. - During the test‚ you must not communicate with your friends under any form. Please refer to the invigilator
Premium Spreadsheet
ACC 423 FINAL EXAMS http://www.finalexamguideline.com/main.sc 1) When convertible debt is retired by the issuer‚ any material difference between the cash acquisition price and the carrying amount of the debt should be 2) The conversion of preferred stock may be recorded by the 3) The conversion of preferred stock into common stock requires that any excess of the par value of the common shares issued over the carrying amount of the preferred being converted should be 4) The accounting problem
Premium Stock market Stock Corporate finance
Clients Understanding ACC/541 Rose Barden January 16‚ 2012 Kenneth Burton Adjusting Lower Cost The paperwork is needed so that the inventory can be check and figured out the true value of the inventory. A better way at looking any logical justification for cost or market inventory valuation is that a stock of items is necessary to expedite production and sales. If inventory become obsolescence‚ goes through physical deterioration‚ and price declines occur‚ or even if the stock when finally
Premium Balance sheet Generally Accepted Accounting Principles Asset