MidtermExam-AFM102w10 - MIDTERM EXAM AFM 102: Introduction...

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MIDTERM EXAM AFM 102: Introduction to Managerial Accounting Sections 001, 002, 003 and 004 Thursday February 25, 2010: 4:30 – 6:00 PM Instructors: Robert Ducharme and Thomas Vance STUDENT NAME: ____________________________________ STUDENT ID: ________________________________________ UWDIR/Quest Id: _____________________________________ LECTURE: (select one) ______ 7:00-9:50 T (001) Ducharme ______ 8:30-9:20 MWF (002) Vance ______ 9:30-10:20 MWF (003) Vance ______ 10:30-11:20 MWF (004) Vance TUTORIAL: (select one) Room: HH 1102 ______ 8:30-9:20 F (101) ______ 9:30-10:20 F (102) ______ 10:30-11:20 F (103) ______ 11:30-12:20 F (104) ______ 12:30-1:20 F (105) ______ 1:30-2:20 F (106) ______ 2:30-3:20 F (107) ______ 3:30-4:20 F (108) INSTRUCTIONS: This exam has 16 pages (including this page). Please verify that this exam has no missing pages. You have 90 minutes to complete the exam. Exams will only be returned in your tutorial section. Answer multiple-choice questions on the Scantron sheet provided o Use black lead HB pencil. o Write your name and student ID on the Scantron sheet – you do not need to provide section number or card number. o Scantron cards will not be returned. o For your own reference, feel free to circle your responses on the exam paper (these will not be graded). Non-programmable calculators may be used. For questions 2-5: o Show all your work as partial points may be awarded. o Clearly label your solutions to each part to facilitate accurate marking . MARKS (Awarded / Possible) Q1: ________ / 39 (+ 4 bonus marks available) Q2: ________ / 8 Q3: ________ / 11 Q4: ________ / 7 Q5: ________ / 15 TOT: ________ / 80 AFM102 Page 1 of 16
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Q1. ANSWER MULTIPLE CHOICE QUESTIONS ON THE SCANTRON SHEET One mark per question, unless preceded by ‘**’, then two marks. 1. Obtaining feedback is generally identified most directly with which of these functions of management? A) Planning B) Directing and motivating C) Controlling D) Decision making 2. Within the relevant range, what is the difference between variable costs and fixed costs? A) Variable costs per unit fluctuate and fixed costs per unit remain constant. B) Variable costs per unit are constant and fixed costs per unit fluctuate. C) Both total variable costs and total fixed costs are constant. D) Both total variable costs and total fixed costs fluctuate. 3. Which one of the following costs should NOT be considered a direct cost of serving a particular customer who orders a customized personal computer by phone directly from the manufacturer? A) The cost of the hard disk drive installed in the computer. B) The cost of shipping the computer to the customer. C) The cost of leasing a machine on a monthly basis that automatically tests hard disk drives before they are installed in computers. D) The cost of packaging the computer for shipment.
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This note was uploaded on 05/11/2011 for the course AFM 102 taught by Professor R.ducharme during the Spring '09 term at Waterloo.

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MidtermExam-AFM102w10 - MIDTERM EXAM AFM 102: Introduction...

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