Key Fall 2011 - ACC 311 Exam 1 1 Fundamentals of Financial Accounting ACC 311 Fall 2011 Exam 1 KEY ACC 311 Exam 1 2 SECTION I MULTIPLE CHOICE(50 points

Key Fall 2011 - ACC 311 Exam 1 1 Fundamentals of Financial...

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ACC 311 Exam 1 1 Fundamentals of Financial Accounting ACC 311, Fall, 2011 Exam 1 KEY
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ACC 311 Exam 1 2 SECTION I - MULTIPLE CHOICE (50 points - 2 points each) MC Questions Form A Order Form A Form B Form C 1 B 1 B 19 B 2 D 6 D 5 D 3 D 5 D 20 D 4 B 17 B 24 B 5 C 18 C 15 C 6 A 22 A 11 A 7 C 15 C 25 C 8 D 19 D 17 D 9 C 23 C 16 C 10 B 8 B 6 B 11 C 25 C 7 C 12 A 14 A 1 A 13 C 4 C 9 C 14 C 3 C 10 C 15 D 10 D 21 D 16 B 12 B 23 B 17 A 20 A 13 A 18 A 7 A 2 A 19 B 24 B 8 B 20 B 2 B 4 B 21 D 21 D 12 D 22 D 9 D 3 D 23 D 16 D 18 D 24 C 13 C 14 C 25 B 11 B 22 B
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ACC 311 Exam 1 3 MC Questions Form B Order Form A Form B Form C 1 B 1 B 19 B 20 B 2 B 4 B 14 C 3 C 10 C 13 C 4 C 9 C 3 D 5 D 20 D 2 D 6 D 5 D 18 A 7 A 2 A 10 B 8 B 6 B 22 D 9 D 3 D 15 D 10 D 21 D 25 B 11 B 22 B 16 B 12 B 23 B 24 C 13 C 14 C 12 A 14 A 1 A 7 C 15 C 25 C 23 D 16 D 18 D 4 B 17 B 24 B 5 C 18 C 15 C 8 D 19 D 17 D 17 A 20 A 13 A 21 D 21 D 12 D 6 A 22 A 11 A 9 C 23 C 16 C 19 B 24 B 8 B 11 C 25 C 7 C
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ACC 311 Exam 1 4 MC Questions Form C Order Form A Form B Form C 12 A 14 A 1 A 18 A 7 A 2 A 22 D 9 D 3 D 20 B 2 B 4 B 2 D 6 D 5 D 10 B 8 B 6 B 11 C 25 C 7 C 19 B 24 B 8 B 13 C 4 C 9 C 14 C 3 C 10 C 6 A 22 A 11 A 21 D 21 D 12 D 17 A 20 A 13 A 24 C 13 C 14 C 5 C 18 C 15 C 9 C 23 C 16 C 8 D 19 D 17 D 23 D 16 D 18 D 1 B 1 B 19 B 3 D 5 D 20 D 15 D 10 D 21 D 25 B 11 B 22 B 16 B 12 B 23 B 4 B 17 B 24 B 7 C 15 C 25 C
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ACC 311 Exam 1 5 SECTION II ( 50 points ). Where calculations are necessary, you MUST show your work to receive credit for your answers and to receive partial credit. Please try to be as neat and organized as possible. Assume that the accrual basis of accounting applies to all questions , unless a question specifically instructs otherwise. PROBLEM 1 (20 pts) Part A: Account Classifications For each of the following accounts, complete the chart below by indicating (1) how the account is usually classified in the financial statements: CA = Current Asset Op Rev = Operating Revenue NCA = Noncurrent Asset Op Exp = Operating Expense CL = Current Liability Other Item = Other revenue or expense item NCL = Noncurrent Liability SE = Stockholders’ Equity (2) and whether the account usually has a debit (Dr) or credit (Cr) balance.
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