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

2021FINALSP01 5/9/2001 be CODE APage 1ACG 2021 FINAL EXAMSPRING 2001NAME _____________________________________ SS ____________________________InstructionsNOW peach in your section number on your Scan Sheet.Fill in your name and social security number on this examination and your skitter sheet.1. Listen c arefully for any comments your proctor may have tie in to the exam. Read these instructionscarefully. ill to do so may egress in your losing points.2. This exam consists of 60 multiple-choice questions. Select the BEST firmness and mark the appropriatespace on the cream off sheet with a 2 pencil only. You MUST keep your scan sheet instance down on the deskwhen you are not filling it in.3. You may delectation ONLY a non-programmable ready reckoner during the exam. Use of any other calculator entrust beconsidered a violation of the honor code. Your exam will be taken from you and you will receive a gradeof 0.4. At the end of 2 hours, you will be told to stop. Put your penci ls down IMMEDIATELY. Failure to do sowill result in your receiving a adjust for the exam.5. The exam consists of 16 pages, including this cover, present value tables and a blank page at the end.Make sure you have all pages and all questions.6. incur your University of Florida Identification card ready to be checked when you turn in your exam.7. Assume the accounting entities use a calendar year unless differently 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 posted on the webafter the exams are handed back in class.10. The University of Florida polity on academic honesty will be strictly enforced.When you are told to open your exam, turn to the firstpage and find your exam found code. Immediately bubblethis in on your scantron.2021FINALSP01 5/9/2001 FORM CODE APage 21. Which of the following is usually non considered to be a long-term liability?A) Bonds payable.B) Mortgages p ayable.C) Accrued post-retirement benefits.D) FICA taxes payable.E) None of the to a higher place is correct.2. The effect on total assets of the purchase of supplies for cash isA) an increase in total assetsB) a decrease in total assetsC) total assets hold on unchangedD) an increase in total assets and total liabilitiesE) an increase in total assets and current ratio3. Which of the following is not normally a condition that must be met for revenue to be recognized(recorded) on a lower floor the revenue principle?A) The earnings process is complete or nigh complete