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Acct 610

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Your Mid-Term Exam is scheduled for October 23-26. It will begin at 12:01am on October 23 and will be available until midnight on October 26. Your exam must be complete by midnight on October 26.
When you log onto the exam, you will have 2 hours to complete it. NOTE: THE 2-HOUR TIME LIMIT WILL BE STRICTLY ENFORCED. While there will be a 15-minute grace period, you should take no longer than 2 hours to complete the exam. If you should experience technical difficulties during the time you are taking the exam, please contact me. Remember, my philosophy is to be flexible when dealing with technology that is less than 100% reliable.
The exam will be open-book, open-note. The first "question" on the exam, is actually an honor statement that I require you read. You will be asked to click a box indicating that you have read and understand the honor statement. You will not be allowed to use the assistance of any human being, whether it be in-person or via technology (in other words, using email, texting, chatting, or other technology-based communication is strictly prohibited.)
The exam will be primarily short answer and multiple choice. There will be a few questions where you will be required to type in a short narrative answer.
The following outline should be helpful as you prepare for the exam. However, do not assume that the exam material will be restricted to the items mentioned in the outline.
Unit 1
Be familiar with the different forms and types of business.
Be able to describe the basic assumptions and principles associated with the field of accounting
Be able to define assets, liabilities, equities, revenues, and expenses
Be able to give examples of each.
Know the balance sheet equation, the income statement equation, and the statement of cash flows..
Know how to make an income statement, a statement of retained earnings, and a balance

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