Mx ANSWERS

Mx ANSWERS - UNIVERSITY OF CALIFORNIA SAN DIEGO Econ 4...

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Your Name _____________________ Your Number ______ UNIVERSITY OF CALIFORNIA SAN DIEGO Econ 4 Midterm Exam Summer 2008 M. Willoughby You must turn-in this exam with your name & number “on” it. If no choice, then (a) is TRUE and (b) is FALSE. If more than two choices and unless the questions asks “closest to”, then, (e) is a Default for “None of the Above”. 1. Cash ASSET 2. Bonds - sold. LIABILITY 3. Retained earnings. EQUITY 4. Goodwill. ASSET 5. Common Stock EQUITY 6. Salaries & Wages. EXPENSE 7. Accumulated Amortization. Contra ASSET 8. Treasury Stock. EQUITY 9. Depreciation. EXPENSE 10. Products stolen by employees EXPENSE 11. Plant, Property, & Equipment. ASSET 12. Unearned revenue. LIABILITY 13. Provision for Bad Debts EXPENSE 14. Deferred Income Tax. LIABILITY 15. Beginning Inventory is $ 200, Purchases are $ 150 and ending Inventory is $ 100. COGS must be : $ 200 + $150 + ($100) = (d) $ 250 = BI + Purchases – COGS = EI 16. Beginning Inventory is $250, Purchases are $ 0, and
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This note was uploaded on 05/04/2010 for the course ECON econ 4 taught by Professor Willoughby during the Spring '09 term at UCSD.

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Mx ANSWERS - UNIVERSITY OF CALIFORNIA SAN DIEGO Econ 4...

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