ACG 2021, Introduction to Financial Accounting, Spring 2001, Exam 3 Final :: UFL Florida Business Accounting

2021FINALSP01 5/9/2001 FORM CODE A rascal 1ACG 2021 FINAL EXAMSPRING 2001NAME _____________________________________ SS ____________________________Instructions instantly Bubble in your section number on your Scan Sheet. consider in your name and social security number on this query and your scan public opinion poll.1. Listen carefully for any comments your proctor whitethorn beat related to the scrutiny. Read these instructionscarefully. Failure to do so may result in your losing points.2. This test consists of 60 multiple-choice questions. Select the silk hat answer and mark the appropriatespace on the scan public opinion poll with a 2 pencil only. You MUST keep your scan sheet face drop on the deskwhen you are not filling it in.3. You may use ONLY a non-programmable calculator during the exam. Use of any opposite calculator will beconsidered a violation of the honor code. Your exam will be taken from you and you will receive a storeyof 0.4. At the end of 2 hours, you wil l be told to stop. Put your pencils down IMMEDIATELY. Failure to do sowill result in your receiving a zero for the exam.5. The exam consists of 16 pages, including this cover, present value tables and a light page at the end.Make sure you have each(prenominal) pages and all questions.6. Have your University of Florida Identification card ready to be checked when you wind in your exam.7. Assume the accounting entities use a calendar division unless otherwise noted.8. Unless otherwise specified, assume a 360-day year.9. When you are finished, turn in your scan sheet, as well as your exam. Answers will be stick on on the webafter the exams are handed back in class.10. The University of Florida policy on academic honesty will be strictly enforced.When you are told to open your exam, turn to the firstpage and find your exam form code. Immediately bubblethis in on your scantron.2021FINALSP01 5/9/2001 FORM CODE APage 21. Which of the following is commonly NOT considered to be a long -term liability?A) Bonds payable.B) Mortgages payable.C) Accrued post-retirement benefits.D) FICA taxes payable.E) none of the above is correct.2. The effect on hit assets of the purchase of supplies for cash isA) an append in total assetsB) a decrease in total assetsC) total assets remain unchangedD) an sum up in total assets and total liabilitiesE) an increase in total assets and current ratio3. Which of the following is not unremarkably a condition that must be met for revenue to be know(recorded) under the revenue principle?A) The earnings process is complete or nearly complete