12 May Finance & Accounting Exam #1 (Chapters 1-4)
There will be 25 questions in total, including 19 multiple choices, 2 fill-in-the-blank, and 4 journal entry questions.
There is one hour to complete the exam. All of the questions will be displayed at once so we can go back and forth to questions if needed.
Due by 6pm Eastern Standard time USA…this Friday, February 8th.
I would like to complete the exam 5 hours before.
I prefer to log in to my online portal and send the exam questions via picture text to this post.
We would have to schedule a time to take the exam together.
Pictures are attached to show the material that is covered on the exam.
You will have to type in the answer in the template and then I will copy-paste the answer in my exam on online. (see attached template) Do not insert debits and credits. Pick one on the journal entry. Put in excel. The professor will look at the back end / formulas.
Topics on the exam:
1. Basic journal entries
2. Understanding Balance Sheets, P&Ls, and Cash Flow Statements (not so much the latter) and what goes in each report
3. Lenders vs. Investors, Debit vs. Equity
4. Accounting Cycle
5. Life Cycle of a Firm
6. Ratios (the formula will be in parenthesis – in the question) You do not have to memorize formulas.
ex: P ratio. Is it low?
7. ROA and ROE: you need to know how to apply the equation and issue a recomendation.
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