A100+Exam+1+Spring+1+2007

A100+Exam+1+Spring+1+2007 - A100 Exam 1 Spring 1 2007 First...

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A100 Exam 1 Spring 1 2007 First Eight Weeks Exam version A Instruction 1: Fill in the information below. Write clearly: NAME (print): E-mail address: . Name (Signature): Student i.d. # : . Course Section #: . Instruction 2: Read carefully and follow the directions below: There are 35 multiple-choice questions on this exam. Be sure your exam is complete. You will have until 11:00 p.m. to finish the exam. For each question, select the best answer from among the alternatives provided. In order to receive credit for your answers, you must mark them on the machine-readable answer sheet provided. Answers on the exam itself will not be considered in grading the exam. The answer sheet should be completed as follows: - Name (Last name (followed by a space), then first name. Fill in the bubbles below. See example at the front of the room. - Student identification number. Fill in the bubbles below. See example at the front of the room. - In the “Special Codes” area, fill in your section number in columns (k through o). Fill in the bubbles below. See example at the front of the room. - There are multiple versions of this exam. Indicate your version on the answer sheet by entering an “A” in the very last space of the NAME section of your answer sheet. Fill in the “A” bubble below. See example at the front of the room. You may not use calculators or scrap paper during the exam. When you complete the exam (including checking your work if you have time), place your answer sheet behind your exam and turn both the exam and answer sheet in to the exam proctor as you leave the room. NO EXAM MATERIALS MAY LEAVE THIS ROOM. Failure to turn in all exam materials is a violation of the Honor Code. Do not ask the exam proctors questions during the exam. If you discover an error or ambiguity on the exam, make the best assumption you can and continue working. GOOD LUCK!
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1. Which of the following is not a Big 4 accounting firm? A) KBMPQRS. B) Ernst & Young. C) PricewaterhouseCoopers. D) Deloitte. E) None of the above. 2. The 1/1/2006 balances of Total Assets and Total Stockholders’ Equity for your company were $80,000 and $30,000, respectively. On the same date, long-term liabilities were $10,000, and common stock was $10,000. During 2006, dividends declared and paid were $20,000, and the 12/31/2006 annual balance sheet showed retained earnings of $20,000. What was the amount of net income for 2006? A) $ 0. B) $10,000. C) $20,000. D) $30,000. E) $40,000. 3. From a short-term creditor’s perspective whose concern is collection of debt within a year or so, the most important ratio drawn from the financial statements of the company that owes the creditor would be: A) net income/ number of shares of common stock. B) net income/sales. C) gross profit/sales. D)
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A100+Exam+1+Spring+1+2007 - A100 Exam 1 Spring 1 2007 First...

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