exam 1 2008

exam 1 2008 - NAME _ SECTION _001_ ACC 200 - SPRING 2008...

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1 NAME _________________________ SECTION _________001__________ ACC 200 - SPRING 2008 EXAM 0NE 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, keep the exam for the group re-exam but turn in the answer sheet to the front of the room. HONOR PLEDGE I have neither given nor received unauthorized aid on this exam. SIGNED: ____________________________________________
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2 1. Which of the following statements is TRUE about a business organization formed as a limited liability company (LLC)? A) The organization can only operate in a limited geographic region. B) The organization can only operate for a limited time period. C) The personal assets of the owners are protected from the actions of the business organization. D) No more than 100 partners may invest in the company at any one time. 2. Under which form of business ownership would it be easiest for the original owner to maintain control of a business? A) C-corporation. B) Partnership. C) S-corporation. D) Sole proprietorship. 3. The following four companies’ financial performance as a percent of Sales Revenue was the following for the year end December 31, 2007? A Company
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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 1 2008 - NAME _ SECTION _001_ ACC 200 - SPRING 2008...

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