BUAD 2040: Financial Accounting InformationMidterm Exam II InformationFall Semester 2009Exam Date:Tuesday, November 10Bring:Aurora HC101X or B calculatorPhoto IDNo. 2 pencils and eraserReminder:All electronic devices, except for the required calculator, must be put away in backpacks,purses, etc. during the exam. Digital dictionaries may not be used. Please turn off cell phonesso as not to disturb your classmates during the exam.Exam Format:Midterm exam II consists of a total of 40 multiple choice questions that are worth 2.5 pointseach. Exam Topics:Below is a list of topics from chapters 5 through 8 which will be covered on the second exam.Accounting treatment: inventory purchases and sales ofinventory.Define liquidity.FOB destination and shipping point. Freight costs include ininventory or selling expense?Define and calculate operating cycle.Difference between perpetual inventory system and periodicinventory system.
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