exam 2 2006

Exam 2 2006 - NAME SECTION_003 ACC 200 SPRING 2006 EXAM TWO 1 Fill in the information requested at the top of this page Fill in your name on the

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1 NAME _________________________ SECTION _________003__________ ACC 200 - SPRING 2006 EXAM TWO 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, turn in your exam and answer sheet at 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. A privately held corporation’s A. Stock can easily be sold by its owners. B. Stock is commonly traded on an organized exchange such as NASDAQ. C. Owners are not actively involved in the oversight of the business. D. Profits are taxed similar to a publicly held corporation. E. Must file annual reports (10Ks) with the Securities and Exchange Commission. 2. The financial statements of HalMor Corporation reported the following information as of December 31, 2004, and 2005: December 31 2004 December 31 2005 Assets $20,000 $30,000 Liabilities $8,000 $9,000 Contributed Capital ? $16,000 Retained Earnings $1,000 ? Revenues ? $120,000 Expenses $100,000 ? Dividends
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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 2 2006 - NAME SECTION_003 ACC 200 SPRING 2006 EXAM TWO 1 Fill in the information requested at the top of this page Fill in your name on the

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