Pre-Test

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View Attempt 1 of 1 Title: ACC314 Pre-Test Started: August 19, 2010 9:03 AM Submitted: August 19, 2010 9:15 AM Time spent: 00:11:41 Total score: 40/100 = 40% Total score adjusted by 0.0 Maximum possible score: 100 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: 4/4 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 8/19/2010 9:14 AM
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Score: 0/4 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: 0/4 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: 4/4 Comments: View Attempt http://webctap.gardner-webb.edu/webct/urw/lc9810010. .. 2 of 14 8/19/2010 9:14 AM
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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: 0/4 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%
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This note was uploaded on 05/26/2011 for the course ACC 314 taught by Professor Null during the Fall '10 term at GWU.

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Pre-Test - View Attempt...

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