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

Info iconThis 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: A. 2%. B. 20%. C. 200%. D. 500%. (4) Which of the following is generally not considered an external user of accounting information? A) Stockholders of a corporation. B) Bank lending officers. C) Financial analysts. D)
Background image of page 1

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

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

This note was uploaded on 12/10/2010 for the course BUSI BUSI 1002 taught by Professor Drjasmine during the Spring '10 term at HKU.

Page1 / 3

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

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online