exam 2 2007

exam 2 2007 - NAME _ SECTION _002_ ACC 200 - SPRING 2007...

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1 NAME _________________________ SECTION _________002__________ ACC 200 - SPRING 2007 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 make sure your answers are not visible and hold on to the answer sheet until requested to do otherwise. HONOR PLEDGE I have neither given nor received unauthorized aid on this exam. SIGNED: ____________________________________________
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2 1. A company that competes in the market place using a low-cost strategy would most likely have a: A. Lower gross margin as a percentage of sales as compared to a company using a differentiation strategy. B. Lower net income as a percentage of sales as compared to a company using a differentiation strategy. C. Higher gross margin as a percentage of sales as compared to a company using a differentiation strategy. D. Higher net income as a percentage of sales as compared to a company using a differentiation strategy. 2. The sale of company stock to raise capital would best be classified as a: A. Financing activity. B. Investing activity. C. Operating activity. D. Treasury activity. 3. ABC Company reported the following information: Description Amount Cash $ 5,000 Sales Revenue 191,900 Income Tax Expense 3,800 Prepaid Insurance 100 Accounts Payable 18,400 Capital Stock 10,000 Salary and Wage Expense 12,800
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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 2007 - NAME _ SECTION _002_ ACC 200 - SPRING 2007...

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