midterm1_practice - Midterm #1: PRACTICE EXAM NAME:_...

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NAME:_________________________ Section #______ 1 out of 6 Name (no nicknames, please): ________________________________________ Circle your Section # : XXX XXX XXX (XXX – XXX) (XXX – XXX) (XXX – XXX) 1. You are only allowed to have with you a pen/pencil and a calculator (no books, notes, computers, phones, etc). Extra scratch paper will be provided if you need it. You must have your own calculator (no sharing). 2. Round your answers to the nearest three decimal places, and write your final answer in the provided square(s). You must show your work, where applicable, to receive credit! 3. You have 90 minutes to complete the exam. There are 6 pages and 14 questions. Maximum possible score is 100 out of 100. True/False (4 points each / Total = 20 points) 1. Book value of shareholders’ equity can sometimes be negative. True False 2. Earnings management is when managers use their discretion to make accounting choices that depict the true financial condition of the firm. True False 3. Cash flow to shareholders must be less than or equal to net income. True False 4. Retained Earnings refers to how much cash the firm is keeping on hand. True
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midterm1_practice - Midterm #1: PRACTICE EXAM NAME:_...

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