ACCT212 – Mid-Term Exam Study Guide The Mid-Term consists of 20 Multiple Choice Questions, each worth 4 points and 4 Essay/Problems. Two Essay/Problems are worth 20 points each and one Essay/Problem is worth 10 Points. The Exam is worth a total of 130 Points. You have 2 1/2 Hours to take the Exam. The Exam covers all material from Weeks 1-4. You will be tested on TCO 1 – TCO5. Below is a breakdown of all of the questions showing you the TCO covered and the objective you will be tested on. The Exam is open Book and Notes, so you might want to make notes on this guide where you will be able to reference the material in your Textbook. 1) TCO5 – Internal Control and Bank Reconciliations 2) TCO1 – The Accounting Equation 3) TCO4 – Inventory Valuation 4) TCO1 – Accounting Assumptions, Concepts and Principles 5) TCO4 – Inventory – Lower of Cost or Market 6) TCO2 – Transaction Analysis 7) TCO5 – Bad Debt and Allowance for Doubtful Accounts 8) TCO5 – A/R Allowance for Bad Debt Methods
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