Past Exam for ACIS 3115 - Intermediate Financial Acct with Glynn at Virginia Tech (VT)

Exam Information

Material Type:Exam 2
Class:ACIS 3115 - Intermediate Financial Acct
Subject:Accounting & Information Systems
University:Virginia Polytechnic Institute And State University
Term:Fall 1997
  • Recognition Method
  • Immediately
  • Current Asset
  • Recognition
  • S-Corporation
  • Corporation
  • S Corporation
  • Revenue Principle
  • Installments
  • Revenue Recognition
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Sample Document Text

Exam II Fall 1997 Accounting 3115 - Intermediate Accounting October 28, 1997 Instructor: Allan Graham The test includes 29 questions. Point values are described below: Questions 1 - 9 18 points (2 point each) Questions 10 - 25 48 points (3 points each) Question 26 12 points Question 27 10 points Question 28 4 points Question 29 15 points Total points available 105 Transfer your answers for questions 1 - 25 to an opscan form provided. Pledge: On my honor I have neither given nor received aid in the completion of this Class time_----6itE-+._ , _()---=O=-___ _ - -- -- 1. A borrower should prefer to pay simple interest at a rate of 12 percent per year for two years rather than to pay compound interest of 12 percent, compounded quarterly for two years. sOB 2. The future value of an ordinary annuity and an annuity due includes the same number of payments and the same number of interest periods. sOB 3. Revenues are defined and their recognition is governed by the revenue ...

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