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plugin-A471f10 Practice Exam 3

plugin-A471f10 Practice Exam 3 - UNIVERSITY OF MICHIGAN...

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UNIVERSITY OF MICHIGAN ROSS SCHOOL OF BUSINESS ACCOUNTING 471 PRINCIPLES OF FINANCIAL ACCOUNTING FALL 2010 PRACTICE EXAM #3 Please print your name above. The exam is closed-book. For your convenience, present value tables have been provided at page 10. You may use a calculator. You will have 75 minutes to complete the exam. Do your own work. This exam consists of 20 multiple choice questions worth 4 points each. Read each question carefully. Answer all questions on the scantron answer sheet, using only a No. 2 pencil to record your answers. Mark your answer on the scantron sheet by blackening the appropriate space. Make no extraneous marks on the answer sheet, and if you must change an answer, be sure that your erasure is complete. You have seventy-five minutes to complete this exam. At the conclusion of the seventy-five minutes, you will be instructed to read the Business School Honor Policy and sign below to indicate your compliance with the policy. Your exam will not be graded if the statement is not signed. Business School Honor Policy: We, the members of the Business School community --- students, faculty, and staff --- commit ourselves to do our work and perform our duties honestly. We understand that in striving for excellence in performance, our personal and institutional integrity is our most precious asset; and accordingly, we will not knowingly act in ways that erode our integrity. Because we are an academic community, honesty in our academic work is vital. Therefore, we pledge neither to cheat nor to tolerate cheating. I acknowledge that I have been directed to work individually on this exam. I certify that I have neither given nor received prohibited aid on this exam. Signed _______________________________________________
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2 1. When a repair or replacement occurs within the warranty period: a. Warranty expense is increased. b. Repair expense is increased. c. Estimated warranty payable is decreased. d. Estimated warranty payable is increased. e. Warranty expense is decreased.
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plugin-A471f10 Practice Exam 3 - UNIVERSITY OF MICHIGAN...

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