ECOM058.docx - MSc Examination Friday 10th June 2016 10:00...

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MSc Examination Friday 10 th June 2016 10:00 – 12:00 Ecom058 Principles of Accounting Duration: 2 hours YOU ARE NOT PERMITTED TO READ THE CONTENTS OF THIS QUESTION PAPER UNTIL INSTRUCTED TO DO SO BY AN INVIGILATOR Answer ALL questions Calculators are permitted in this examination. Please state on your answer book the name and type of machine used. Complete all rough workings in the answer book and cross through any work that is not to be assessed. Possession of unauthorised material at any time when under examination conditions is an assessment offence and can lead to expulsion from QMUL. Check now to ensure you do not have any notes, mobile phones, smartwatches or unauthorised electronic devices on your person. If you do, raise your hand and give them to an invigilator immediately. It is also an offence to have any writing of any kind on your person, including on your body. If you are found to have hidden unauthorised material elsewhere, including toilets and cloakrooms it will be treated as being found in your possession. Unauthorised material found on your mobile phone or other electronic device will be considered the same as being in possession of paper notes. A mobile phone that causes a disruption in the exam is also an assessment offence. EXAM PAPERS MUST NOT BE REMOVED FROM THE EXAM ROOM Examiners: Farhad Madon © Queen Mary, University of London, 2016
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Page 2 ECOM058 (2016) MULTIPLE CHOICE SECTION Answer each of the following multiple choice questions by simply recording in your answer book the question number followed by your selected answer A, B, C or D. There is only one correct answer. Question 1 Which of the following best describes the meaning of “Purchases”? A Goods supplied on special order B Goods bought on credit C Goods paid for D Goods bought for resale [3 marks] Question 2 Which of the following is a liability?
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