Final Exam Part 2

Final Exam Part 2 - View Attempt

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
View Attempt 1 of 1 Title: Final Exam Part 2 Started: December 13, 2010 10:32 AM Submitted: December 13, 2010 11:16 AM Time spent: 00:43:09 Total score: 44/50 = 88% Total score adjusted by 0.0 Maximum possible score: 50 Done 1. The investment category for which the investor's "positive intent and ability to hold" is important is: Student Response Value Correct Answer Feedback A. Securities reported under the equity method. 0% B. Trading securities. 0% C. Securities classified as held to maturity. 100% D. Securities available for sale. 0% Score: 2/2 Comments: 2. Securities that are purchased with the intent of selling them in the near future to take advantage of short-term price changes are classified as: Student Response Value Correct Answer Feedback A. Securities available for sale. 0% B. Consolidating securities. 0% C. Held-to- maturity securities. 0% D. Trading securities. 100% Your location: Assessments View All Submissions › View Attempt View Attempt http://webctap.gardner-webb.edu/webct/urw/lc9810010. .. 1 of 14 12/13/2010 11:15 AM
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Score: 2/2 Comments: 3. All investments in debt and equity securities that don't fit the definitions of the other reporting categories are classified as: Student Response Value Correct Answer Feedback A. Trading securities. 0% B. Securities available for sale. 100% C. Held-to- maturity securities. 0% D. Consolidated securities. 0% Score: 2/2 Comments: 4. Which of the following is not a characteristic of a liability? Student Response Value Correct Answer Feedback A. It represents a probable, future sacrifice of economic benefits. 0% B. It must be payable in cash. 100% C. It arises from present obligations to other entities. 0% D. It results from past transactions or events. 0% Score: 2/2 Comments: View Attempt http://webctap.gardner-webb.edu/webct/urw/lc9810010. .. 2 of 14 12/13/2010 11:15 AM
Background image of page 2
5. Which of the following is not a liability? Student Response Value Correct Answer Feedback A. An unused line of credit. 100% B. Estimated income taxes. 0% C. Sales tax collected from customers. 0% D. Advances from customers. 0% Score: 2/2 Comments: 6. Interest expense is: Student Response Value Correct Answer Feedback A. The effective interest rate times the amount of the debt outstanding during the interest period. 100% B. The stated interest rate times the amount of the debt outstanding during the interest period. 0%
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/26/2011 for the course ACC 314 taught by Professor Null during the Fall '10 term at GWU.

Page1 / 14

Final Exam Part 2 - View Attempt

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online