Monday, February 18, 2013

Fi504 Midterm

Grading Summary
These are the automatically computed results of your exam. markings for essay questions, and comments from your instructor, are in the Details section below. Date Taken: 11/17/2011
Time Spent:2 h , 30 min , 00 secs
Points Received:143 / 150 (95.3%)

marvel Type:# Of Questions:# Correct:
five-fold Choice3028
Essay2N/A

Grade Details
Page: 1 2 3

1.Question :(TCO A, B, C) external users want answers to all of the following questions except

scholar Answer: Is the caller earning satisfactory income?

Will the company be able to stomach its debts as they come due?

Did the company use a budget to plan its expenses?

How does the company compare in profitability with competitors?

Instructor history:chapter 1 page 7

Points Received:3 of 3
Comments:

2.Question :(TCO C) Debt securities sold to investors that must be repaid at a particular date some years in the future are called

pupil Answer: accounts payable.

notes receivable.

taxes payable.

bonds payable.

Instructor Explanation:chapter 1 page 10

Points Received:3 of 3
Comments:

3.Question :(TCO C) The statement of cash flows would disclose the payment of a dividend

Student Answer: nowhere on the statement.

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in the operating activities section.

in the investing activities section.

in the financing activities section.

Instructor Explanation:chapter 1 page 15

Points Received:3 of 3
Comments:

4.Question :(TCO A) The live of assets consumed or services used is also known as

Student Answer: a revenue.

an expense.

a liability.

an asset.

Instructor Explanation:chapter 1 page 11

Points Received:3 of 3
Comments:

5.Question :(TCO C) Finley society recorded the following cash transactions for the year:
pay $90,000 for salaries.
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