Laura Marie PHI 104-51 MIDTERM MIDTERM EXAM INSTRUCTIONS: Please answer the following questions with a few sentences or a paragraph. 1. Define Ethics: Ethics are principles of right conduct that serve as rules for people. It is the understanding of what is right and wrong‚ and choosing to do what is right. 2. What are the 5 Steps to Making an Ethical Decision? The first step in making an Ethical decision is to recognize a moral issue. The second step
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1 STAT 1770 MIDTERM-2 Date: March 19‚ 2010 Time: 12 30- 14 30 Instructions 1. This is a closed book exam. Name: _______________ I.D. #: _______________ 2. You are permitted to use a non programmable calculator approved by the instructor. 3. There are 31 multiple-choice questions in the part A of this exam. For each question exactly one of four answers provided is correct. For each multiple-choice question‚ circle one of the letters (a)-(d) corresponding to your chosen answer and record
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Lesson 1. What is Operations Management –Management of the conversion process which transforms inputs such as raw material and labor into outputs in the form of finished goods and services. Historical Development of O.M • Prior to 1900 –Cottage industry produced custom-made goods. –Watt’s steam engine in 1785. –Whitney’s standardized gun parts in 1801. –Industrial Revolution began at mid-century. • Scientific Management (Frederick W. Taylor) –Systematic approach to increasing worker productivity
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CHAPTER 4 JOB COSTING 4-1 Cost pool––a grouping of individual indirect cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to cost objects. 4-2 In a job-costing system‚ costs are assigned to a distinct unit‚ batch‚ or lot of a product or service. In a process-costing system
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Each problem/question is worth 3 points. Please label your answers with the correct chapter and problem in the submission area. • Chapter 1: Exercises 2‚ 3‚ and 6 • Chapter 2: Exercises 1‚ 5‚ and 6 Chapter 1: Exercises 2‚ 3‚ and 6 2.Shareholders want high long-term profits. Managers want job security and wonderful perks and amenities. Since risk and return tend to be positively related‚ managers may wish to avoid risks that shareholders want the managers to undertake. To encourage managers
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Introduction to Financial Accounting 1. A _____ year ends on a date that is determined by the firm‚ perhaps based on its business model (for example‚ many retailers choose the end of January). physical natural fiscal business cycle Normal ANS: C 2. An income statement connects two successive _____ through its effect on retained earnings. a. balance sheets b. cash flow statements c. cash receipts and disbursement statements d. funds flow statements e. financing statements
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UNIVERSIDAD CARLOS III DE MADRID Accounting I Mid-term exam March 2012 Name: NIU Group: MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. There is only one correct answer. Grading system: correct answer = 1 point; incorrect answer = -0‚33 points; no answer = 0 points. 1. Which of the following statements is FALSE? a. A proprietorship is a distinct and separate entity from the proprietor from an accounting viewpoint. b. The stable monetary
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Chapter 1 Environment and Theoretical Structure of Financial Accounting AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools‚ departments‚ and faculty may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise and problem in Intermediate Accounting
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In 1973‚ the Financial Accounting Standards Board (FASB) was created and their mission is “to establish and improve standards of financial accounting and reporting for the guidance and education of the public‚ including issuers‚ auditors‚ and users of financial information.” (FASB.org‚ 2009a). The FASB is a private‚ not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States. The Securities and Exchange Commission (SEC)
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DeVry University DeVry University was opened in Chicago by Dr. Herman DeVry in 1931. It was called DeForest Training School to prepare students for technical work in electronics‚ motion pictures‚ radio and later‚ television. It was in Chicago. In the 1940’s during WWII‚ DeVry University was selected by United States to educate Army Air Corps instructors on electronic devices. It was one of the first schools to be approved under the original G.I. Bill. In 1953 DeForest Training School became DeVry
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