Quiz1 - The University of Hong Kong Faculty of Business and...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
The University of Hong Kong Faculty of Business and Economics School of Business BUSI 1002 (K, L, M, N) Introduction to Accounting Semester I, 2009/10 Quiz 1 Name: _______________________________________ Student I.D. Number: ___________________________ Sub-class: ___________________________ (1) Financial statements may be prepared for A) One year B) Less than one year C) Either A or B D) Neither A or B. Financial statements can only be prepared on a monthly basis. (2) A company's Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense for the year is $3,100, what amount of office supplies was purchased during the period? A. $2,700. B. $2,900. C. $3,300. D. $3,500. (3) A company earned $2,000 in net income for October. Its net sales for October were $10,000. Its profit margin is: (4) Which of the following is generally not considered an external user of accounting information?
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern