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Acg201 Final

In: Business and Management

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ACG 201
TEST IA
Fall 2004

NAME _________________________________

Class Time Circle one: 10:00 12:00 1:00

MULTIPLE CHOICE: There is only one BEST answer. 2 points each.

1. ______D________

2. ______D________

3. ______A________

4. ______B________

5. ______C________

6. ______D________

7. ______D________

8. ______B________

9. ______C________

10. ______C________

11. _______B_______

12. _______D_______

13. _______B_______

14. _______B_______

15. _______D_______

16. _______B_______

17. _______A_______

18. _______C_______

19. _______B_______

20. _______B_______

Multiple Choice 40

Problem I 30

Problem II 20

Problem III 10 ______

100

Multiple Choice – (2 points each) select the ONE best answer

1. Under the definition of accounting, which of the following is not one of the activities performed on the transactions of a business entity? A. Summarizing. B. Interpreting. C. Classifying. D. Forecasting.

2. Which of the following is a measure of solvency? A. Current ratio B. Price earnings ratio C. Earnings per share D. Debt to total assets ratio

3. Working capital is A. Available to meet the growth needs and non-current obligations of a company. B. Nearly always the same as net income. C. used to evaluate a company’s solvency and long-term debt paying ability. D. calculated by subtracting current assets from current liabilities.

4. Which of the following is not an example of conservatism in accounting? A. Expensing tires when purchased even though they last two years. B. Recording gains in market value of short term investments. C. Recording depreciation on equipment...

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