ADMS3585F05Midterm2

ADMS3585F05Midterm2 - TEST FORM: A FALL 2005 YORK...

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TEST FORM: A FALL 2005 YORK UNIVERSITY AK/ADMS 3585 - INTERMEDIATE FINANCIAL ACCOUNTING MIDTERM EXAM II 6:30-9:30PM, NOVEMBER 6, 2005 Name ___________________________________ Student Number __________________________ Section __________________ For Markers’ Use Only Problem Full Mark Assigned Mark 36 9 37 8 38 18 39 15 Total 50
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Instructions 1. The test has 4 sections and 16 pages. The compound interest tables are on page 16. 2. The marks for the 4 sections total 100. Section Question Marks Time Allocation A (Multiple Conceptual) 1-10 10 15 minutes B (True or False) 11-20 10 10 minutes C (Multiple Computational) 21-35 30 60 minutes D (Problems) 36 9 15 minutes D (Problems) 37 8 15 minutes D (Problems) 38 18 35 minutes D (Problems) 39 15 30 minutes ______ ___________ ___________ 100 180 minutes (1) Place all answers to Section A to C on the Score Sheet (using HB pencil) i. Write out and bubble your name, student number, and section number. ii. Write out and bubble your test form (see upper left corner of this page) (2) Place all answers to Section D on this booklet (using pen). i. Write down your name, student number, and section number on page 1. (3) Both Score sheet and this booklet must be handed in for evaluation. 3. No one is to leave seat in the last 10 minutes. Any answers not transferred onto the Score Sheet should be recorded at this time. When time is called, the proctors will go down the rows collecting your answer sheet. They will not wait and they will not accept your sheet once they have passed. Any violation of this protocol will result in a grade of zero. 4. You are reminded that cheating is a serious offense which can result in expulsion from university. 2
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Section A: Conceptual Multiple Choice (10 marks, 1 mark each, 15 minutes) Choose the best answer for each of the following questions and transfer your answer to the score sheet. 1. A sale can not be recognized as revenue by the seller at the time of sale if a. Payment was made by cheque. b. The selling price is less than the normal selling price. c. The amount of future returns cannot be reasonably estimated. d. The amount of goods returned is high. e. None of these. 2. For a typical manufacturing company, the most common critical point for recognizing revenue is the date: a. An order is received. b. Production is completed. c. The product is delivered. d. Payment is received. e. None of these. 3. Which of the following is not considered cash or cash equivalents? a. Postdated cheques. b. Money market funds with checking account privileges. c. Three-month treasury bills. d. 60-day Certificates of deposit (CDs). e. All of the above are considered cash or cash equivalents. 4. Which of the following is not correct in regard to trading securities? a.
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ADMS3585F05Midterm2 - TEST FORM: A FALL 2005 YORK...

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