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Unformatted text preview: Here is some helpful information for the mid-term: It covers chapters 1-6 but not 5 1. Bring a calculatorno cellphones or iPhones as calculators. 2. Books, knapsacks and purses should be left at the front...you will not get an exam until your stuff is at the front...I will perform random searches looking for valuable things I can resell. 3. No paper leaves the room. Generally, you should know the following: 1. Balance sheet 2. Income Statement 3. Journal entries like 3-26 4. Bad Debt/Allowance for doubtful accounts 5. Temporary investments 6. Matching 7. Assets = Liab + SE 8. Essayssee later 9. Parts of Cash flow 10. Goodwill 11. Internal controls 12. Liquidity 13. Unearned Revenue/revenue recognition 14. % completions/Instalment Specifically: 1. Know how to prepare a CLASSIFIED balance sheet...and an income statement in good form. 2. Read the multiple choice slowly and read all options. Only then should you take a random guess at the answer. 3. If you missed a lecture get the notes from a classmate...preferably a smart one.(Hint: they often sit in the front row). 4. If the Balance Sheet does not balance move on...don't get hung up on one question....
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