Past Exam for BMGT 220 - PRIN ACCOUNTING I with Rymer at Maryland (UMD)

Exam Information

Material Type:Exam 2
Subject:Business and Management
University:University of Maryland
Term:Fall 2001
  • Consistency Principle
  • Personal Expenses
  • Disclosure Principle
  • Nominal Accounts
  • Full Disclosure Principle
  • Unadjusted Trial Balance
  • Real Accounts
  • Permanent Accounts
  • Physical Count
  • Understatement
Login / Sign Up to View Document
Preview Page 1Preview Page 2Preview Page 3Preview Page 4Preview Page 5Preview Page 6

Sample Document Text

Answer Key -- 220EX2AlFOl 1. B 2. D 3. C 4. D 5. A 6. A 7. C 8. D 9. D 10. D 11. C 12. A l3. D 14. C 15. D 16. D 17. A 18. A 19. A 20. A 21. A 22. D 23. B 24. A 25. C Page 8 GM~T ~20 t~A~IWO ~ \--~I lao I \j .~yYLQ/\ 1. When closing entries are made: A) All ledger accounts are closed to start the new fiscal period. B) All temporary accounts are closed but not the permanent accounts. C) All real accounts are closed but not the nominal accounts. D) All permanent accounts are closed but not the nominal accounts. 2. The current ratio: A) Is used to measure a company's profitability. B) Is used to measure the relation between assets and long-term debt. C) Measures the effect of operating income on profit. D) Is used to help evaluate a company's ability to pay its short-term obligations. 3. A compnay's ledger accounts and their end-of-period balances before closing entries are posted are shown below, what amount will be posted to ...

Related Documents

Inventory Error Notes
Sports T-Shirts Exam
Sports T-Shirts Exam
Unearned Service Revenue Exam
Service Revenue Exam
Seamster Co Exam
Unearned Service Revenue Exam
Shirt Manufacturer Exam
Following Costs Exam
Exception Principle Exam
Grocery Company Exam
Appropriations Exam
Receivable Retained Earnings Exam
Trading Securities Exam
Authorized Stock Notes
Perpetual Inventory Method Quiz
155, "/var/app/current/tmp/"