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2005 Spring Accounting_011_exam_1___Spring_2005

2005 Spring Accounting_011_exam_1___Spring_2005 - Name...

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Name ____________________ Temple University Fox School of Business and Management Dr. Steven Balsam Accounting 011 Exam #1 February 10, 2005 Instructions: You have 150 minutes. Answer the questions on the pages provided and please remember to show all work so that you may receive partial credit. Also please put your name on each page in case the pages get separated. Good luck! 1
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Name ____________________ Multiple Choice (2.5 points each – 50 points total – please include answers on answer sheet). 1. The gain or loss from disposal of a segment of a business is shown as a (an) a. unusual gain or loss b. part of discontinued operations c. extraordinary item d. prior period adjustment 2. A change in depreciation from the double-declining to the straight-line method would be accounted for as a (an) a. part of discontinued operations b. extraordinary item c. change in accounting principle d. change in estimate. 3. Which of the following must be considered in estimating depreciation on an asset for an accounting period? 4. In a double-entry accounting system every transaction affects:
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2005 Spring Accounting_011_exam_1___Spring_2005 - Name...

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