PDF Archive

Easily share your PDF documents with your contacts, on the Web and Social Networks.

Share a file Manage my documents Convert Recover PDF Search Help Contact

FIN 324 Final Exam .pdf

Original filename: FIN 324 Final Exam.pdf
Author: Manoj

This PDF 1.5 document has been generated by Microsoft® Office Word 2007, and has been sent on pdf-archive.com on 08/05/2017 at 07:36, from IP address 43.224.x.x. The current document download page has been viewed 296 times.
File size: 219 KB (3 pages).
Privacy: public file

Download original PDF file

Document preview

FIN 324 Final Exam
To purchase this material click below link
For more classes visit
1. The primary users of external financial reports are
a. Those who direct day to day operations of a business enterprise
b. Individuals who have an economic interest in the firm but who are not part of
c. Managers of an enterprise who plan, implement plans, and control costs
d. None of the above
2. If a company has $15,000 in assets and $10,000 in equities, then liabilities are
a. $25,000
b. $10,000
c. $5,000
d. $0
3. A revenue account is increased with
a. Debits
b. Credits
c. Equities
d. None of the above
4. Expense items that have been incurred during a period but not recorded by the end of
the period are:
a. Prepaid liabilities
b. Prepaid expenses
c. Deferred expenses
d. Unrecorded liabilities
5. A purchase of $900 of supplies on account was journalized and posted as $900 debit to
Supplies on Hand and a $900 credit to Accounts Receivable. The entry to correct this error
a. A $900 debit to accounts payable and a $900 credit to accounts receivable

b. A $900 debit to supplies on hand and a $900 credit to accounts payable
c. A $900 debit to accounts receivable and a $900 credit to accounts payable
d. A $900 debit to accounts receivable and a $900 credit to supplies on hand
6. The retained earnings balance of Werner Company was $46,800 on January 1, 2005.
Net income for 2005 was $26,480. If retained earnings had a credit balance of $21,000
after closing entries were posted on December 31, 2005 and if additional stock of $13,000
was issued during the year, dividends paid during 2005 were:
a. $38,800
b. $52,280
c. $65,280
d. none of the above
7. If net purchases are $200,000 and beginning and ending accounts payable -balances
are $25,000 and $20,000, respectively, cash paid for purchases is
a. $195,000
b. $200,000
c. $205,000
d. $210,000
8. The tools of financial statement analysis are not “static” they have, and will continue,
to evolve as the nature of doing business and/or the needs of financial statement users
a. True
b. False
9. Which of the following costs would be LEAST likely to be a fixed cost:
a. Plant property taxes
b. Plant supervisor’s salary
c. Utilities costs
d. Executive salaries

Sales income minus total fixed costs is equal to:
Net income
Contribution margin
Gross margin
None of these choices

FIN 324 Final Exam.pdf - page 1/3
FIN 324 Final Exam.pdf - page 2/3
FIN 324 Final Exam.pdf - page 3/3

Related documents

fin 324 final exam
acc 205 week 1 1215
devry acct 550 final exam
7110 s15 qp 11
7110 s15 qp 12
devry acct 550 week 1 homew

Related keywords