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Past Exam for ACIS 2116 - Principles of Accounting at Virginia Tech (VT)

Exam Information

Material Type:Exam 1
Professor:Staff
Class:ACIS 2116 - Principles of Accounting
Subject:Accounting & Information Systems
University:Virginia Polytechnic Institute And State University
Term:Summer I 2003
Keywords:
  • Overhead Application
  • Process Inventory Account
  • Following Costs
  • Overhead Account
  • Period Cost
  • Overhead Cost
  • Goods Inventory
  • Direct Material
  • Indirect Materials
  • Three-Year Period
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Sample Document Text

PART I MULTIPLE CHOICE PART II T-ACCOUNTS PART III JOB ORDER COSTING GENERAL INSTRUCTIONS: ACCOUNTING 2116 TEST I July lO,2003 SECTION NUMBER OR HOUR ~'. 5 0 INSTRUCTOR ___ {)_f1'3_'_o, _u_)_tL __ _ 70 POINTS 16 POINTS 12 POINTS 2 POINTS 100 POINTS ========== 1) Check your test booklet to determine whether it includes all of the parts listed above. 2) Be sure to read instructions to all problems very carefully. 3) Budget your time wisely. 4) If an answer requires a computation, the computation must be shown. ANSWERS UNSUPPORTED BY CALCULATIONS WILL LOSE CREDIT. 5) The Department of Accounting supports the Virginia Tech Honor System in every possible way: PLEDGE: On my in the completion of this test. Part I 1. Which of the following statements are true regarding financial and managerial accounting? ~ Both are mandatory. II. Both rely on the same underlying financial data. . Both emphasize the segments of an organization, rather than just looking at the organ...

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