Mid_module_exam_2008_v2_soln

Mid_module_exam_2008_v2_soln - COURSE QUARTER TEST NAME...

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COURSE: Accounting 505 DATE: August 12, 2008 Cost Accounting QUARTER: Summer 2008 TEST: Mid-Module Examination V2 NAME: (Please print) ___SOLUTION ________________ All questions are to be answered in the spaces provided. Where calculations are needed to arrive at a solution, you are advised to show enough work so we can understand how you arrived at your answer. Partial credit is available on some computational questions. However, unless your work is shown, it is not possible to determine if partial credit points are appropriate. Do not make any unsupported assumptions. However, if you feel the need to make an assumption, please state it clearly. Please confine your work to the examination paper. You have approximately 120 minutes to complete this test. In the interests of maximizing your grade, I recommend you skim through the entire exam before you start to answer any question so you can plan your strategy. If you need clarification (e.g. definition of words, unclear instructions, unclear problem) during the test, raise your hand and I will come to you and provide clarification where appropriate and allowable. We will not re-teach any point. Space has been provided below each question for your response. Bullet point responses are acceptable provided they provide complete answers. Point values for each question are indicated in brackets at the end of each question. There are 11 pages (including this title page) on this examination. Count your pages and confirm that you have a complete package and that no pages are duplicated or missing. By signing below you certify that the answers provided on this exam are the result of your own legitimate efforts. ___________________________________ Your Name -- Signature BUDGET YOUR TIME WISELY! GOOD LUCK! Acctg 505, Summer 2008. Mid-module exam. V2 Soln Page 1 of 9
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Part I. Multiple-choice Questions – Topics Vary (3 points each; total 36) Please select the best answe r in each of the following questions. 1. Which of the following statements about business strategy is true ? a. All strategies should be evaluated regardless of the resources and capabilities of the company. b. The key to a company’s success is creating value for customers while differentiating itself from its competitors. c. The best-designed strategies are valuable, whether or not they are effectively implemented. d. Companies can decide on an appropriate strategy based only on internally available information. 2. All of the following statements are false except: a. Both financial and managerial accounting reports must be prepared in accordance with generally accepted accounting principles (GAAP). b. Financial accounting is broader in scope than managerial accounting. c.
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This note was uploaded on 12/08/2009 for the course BUSINESS buad 422 taught by Professor Kingsley during the Spring '09 term at A.T. Still University.

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Mid_module_exam_2008_v2_soln - COURSE QUARTER TEST NAME...

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