Old Exams Review - Reminders Exam 1 Review Questions Dr....

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Exam 1 – Review Questions Dr. Ron Lazer Source: Old Exams 1. Sat., Sep 26, 1:00 pm, Rooms 150, 170 & 180, length: 75 minutes, or 2. Fri., Sep. 25, 1:00 pm, Room 160, 75 minutes (sign at the lab – 133MH) 3. Alternate seating!!!!!! 4. Be sure to bring: A. Picture ID B. No. 2 pencil and a good eraser C. 4 function calculator 5. Properly complete the Exam Answer Sheet 6. Know your people soft number Ron Lazer, Ph.D. Reminders 1. An example of a contra-asset account is: A. Prepaid insurance B. Income summary. C. Accumulated depreciation D. Taxes payable E. Unearned revenue. Ron Lazer, Ph.D. 2. Those debts of a firm that must be either paid in cash or settled by providing goods or services within the operating cycle of the firm or one year are referred to as: A. Current liabilities. B. Accounts payable. C. Notes payable. D. Bonds payable. E. Current assets. Ron Lazer, Ph.D.
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3. During September, Amy’s shop had revenues of $4,500 and expenses of $1,600. dividends were $1,350. If the Stockholders’ equity on September 30 was $9,000, the Stockholders’ equity on September 1 must have been: A. $10,550 B. $6,000 C. $11,000 D. $7,450. E. None of the the above. Ron Lazer, Ph.D.
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Old Exams Review - Reminders Exam 1 Review Questions Dr....

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