Final2006_v2_Solutions - Test #:_ Version # 2 AEM323...

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Test #:_________ Version # 2 AEM323 Managerial Accounting Spring 2006 – Final May 15, 2006 Name: TA: Section: Sec # Day/Time Location Sec # Day/Time Location SEC 01 W 7:30-9:25 WN 145 SEC 07 R 2:30-4:25 PS 143 SEC 02 W 7:30-9:25 WN 360 SEC 08 R 2:30-4:25 WN 245 SEC 03 R 10:10-12:05 CD 250 F 10:10-12:05 PS G37 SEC 04 R 10:10-12:05 PS 143 SEC 11 F 12:20-2:15 WN 201 SEC 05 R 12:20-2:15 KN 103 SEC 12 F 12:20-2:15 WN 360 SEC 06 R 12:20-2:15 WN 245 General Instructions : 1. This is a 100 point exam. You have approximately 150 minutes. Budget your time accordingly. This includes time required to transfer your answers to the optical scanning sheet. No extra time will be allowed. 2. YOU MUST USE A #2 PENCIL ON THE OPTICAL SCANNING SHEET. The scanner does NOT read blue or black ink. 3. The only materials to be used while taking this exam are writing materials and non-financial, non-graphing, non- programmable calculators. 4. It is an act of academic dishonesty to give or receive information about this examination either before or during the examination. 5. Your exam has 17 pages. It is your responsibility to make sure that you have all pages to the exam. 6. There is no partial credit on question 1. You must show your work on the remaining questions to be eligible for credit (partial or full). Question 1 – Multiple Choice 60 points Question 2 – 13 points Page 1 of 18
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Test #:_________ Question 3 – 12 points Question 4 – 15 points Total 100 points ______ Question 1 – Multiple Choice (60 points) Select the best answer choice. Each question is worth 2 points. There is no partial credit. Please be sure to fill in your answers on the optical scanning sheet using a #2 pencil. 1. Assuming stable business conditions, an increase in the accounts receivable turnover ratio could be explained by: A) stricter policies with respect to the granting of credit to customers. B) an easing of policies with respect to the granting of credit to customers. C) a slowdown in collecting accounts receivables from customers. D) none of these. 2. The following information pertains to Bass Co.: Merchandise purchased. .................. $1,800,000 Cost of goods sold. .......................... $2,000,000 Inventory at the end of the year. ...... $400,000 The inventory turnover for the year was: A) 10.0 times. B) 5.0 times. C) 4.0 times. D) 3.6 times. 3. Dillon, Inc., purchased a new machine for $60,000 on Page 2 of 18
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Test #:_________ January 1. The machine is being depreciated on the straight-line basis over five years with no salvage value. The simple rate of return is expected to be 15% on the initial investment. Assuming a uniform cash flow, this investment is expected to provide annual cash flow from operations of: A) $7,200. B) $12,000.
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This homework help was uploaded on 02/19/2009 for the course AEM 3230 taught by Professor Little,j.e. during the Spring '08 term at Cornell University (Engineering School).

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Final2006_v2_Solutions - Test #:_ Version # 2 AEM323...

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