exam 3 2008

exam 3 2008 - NAME _ SECTION _001_ ACC 200 - SPRING 2008...

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NAME _________________________ SECTION _________001__________ ACC 200 - SPRING 2008 EXAM THREE 1. Fill in the information requested at the top of this page. Fill in your name on the answer sheet provided. 2. Enter all answers on the answer sheet provided but do NOT make extraneous marks on the answer sheet. Use the test paper for scratch work. The answer sheet will be machine graded; please handle it in a careful manner. Answers must be on the front side , i.e., the side with space for your name and identification. 3. Each question should be answered in the appropriately numbered space on the front side of answer sheet (1-20). Only one answer is acceptable for any question. If you must erase, erase completely . Fill in the chosen circle completely with a soft (#1 or #2) pencil. Remember, with multiple choice questions, there might appear to be several good answers. You need to select the best answer. 4. When you complete the exam make sure your answers are not visible and hold on to the answer sheet until requested to do otherwise. When you leave you can take the main text of the exam but need to make sure you turnin the cover page with the honor statement and the answer sheet. HONOR PLEDGE I have neither given nor received unauthorized aid on this exam. SIGNED: ____________________________________________
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ACC 200-001 -- Exam Three -- Spring 2008 2 1. A company using a differentiation strategy in the market place as compared to a company using a low-cost strategy would be expected to have a: A. Lower net profit margin. B. Higher net profit margin. C. Lower gross profit margin. D. Higher gross profit margin. 2. Adventure Company reported the following information: Description Amount Cash $ 2,000 Sales Revenue 387,000 Income Tax Expense 14,000 Prepaid Insurance 3,000 Accounts Payable 22,000 Capital Stock 15,000 Salary and Wage Expense 113,000 Accounts Receivable 33,000 Notes Payable 25,000 Cost of Goods Sold 185,000 Income Taxes Payable 1,000 Dividends 16,000 Inventory 10,000 Research and Development Expenses 5,800 Property, Plant and Equipment 94,000 Assuming the accrual basis of accounting, Port Company had total retained earnings of: A. $25,800 B. $53,200 C. $79,000 D. $94,000 E. $132,200 3. Which of the following organizations would most likely use a process costing system? A.
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This note was uploaded on 04/21/2009 for the course ACC 200 taught by Professor Buckless during the Spring '08 term at N.C. State.

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exam 3 2008 - NAME _ SECTION _001_ ACC 200 - SPRING 2008...

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