Mini%20Exam%201%20Fall%202010%20VB - NAME(If your scantron...

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NAME: (If your scantron is lost- having your name on your exam is the only way to prove you took the exam)! Do NOT open your exam until you are told to do so! Fill in your scantron as follows: x your last name & first initial (use your legal name per the University system). x your UIN x your net id (this is the same as your Enterprise ID & is the first part of your University email address) x Your section number (see below): Scantron Start TA Section # Entry Time Name AD1 100 8:00 AM Lindsay Bobbitt AD2 150 9:00 AM Lindsay Bobbitt AD3 200 10:00 AM Kellie Bradley AD4 250 11:00 AM Kellie Bradley AD5 300 12:00 PM David Michael AD6 350 1:00 PM David Michael Please keep in mind the following course policy regarding academic integrity: x There should be no communication between students in any manner during the entire exam period. This means no talking, whispering or signaling to each other and no electronic communication. x It is your job to keep your scantron/exam booklet hidden from wandering eyes. Keep your test FLAT on your desk at all times! If you are allowing your exam/scantron to be visible to other students it will be assumed that YOU are cheating. x No calculators. x All books and papers & cell phones must be securely placed in a back-pack or other case and placed completely under the student’s seat. Please turn off your cell phone before putting it away! x Baseball hats, headphones and/or sunglasses may not be worn during an exam. All extra wearing apparel and parcels must be on the floor, under the student’s desk or seat during quizzes, tests or exams. x By enrolling in this course students agree to abide by the rules & regulations stated in Article 4 of the Student Code. If academic dishonesty is evident your exam will be confiscated and turned over to the Accountancy Department Head for resolution. In this event, I will recommend a penalty of an “F” for the course. In especially serious cases, the Department Head may impose harsher penalties such as expulsion from the University. Please keep in mind that expulsion for cheating becomes part of your permanent academic record which will follow you for the rest of your academic career.
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1. Norton Corporation has purchased raw materials from a vendor and was offered credit terms of 2/10, n/30. Which of the following reflects these terms? A. 20% discount (2/10) if paid within 30 days B. 2% discount if paid within 30 days C. 10% discount if paid within 30 days and 2% after 30 days D. 2% discount if paid between 10 and 30 days E. None of the above 2. The recognition of an expense would most likely be accompanied by which of the following? A. a decrease in liabilities B. an increase in assets C. an increase in a revenue D. a decrease in assets E. None of the above 3. 8/26th : Hawthorne Manufacturing (the "buyer") places an order to purchase materials from High Quality Vendor ("HQV"). The materials normally list for $20,000 but due to Hawthorne's buying history the vendor
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This note was uploaded on 04/28/2011 for the course ACCY 202 taught by Professor Staff during the Fall '08 term at University of Illinois, Urbana Champaign.

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Mini%20Exam%201%20Fall%202010%20VB - NAME(If your scantron...

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