acc_561_final_exam__1_.doc

Jun 14th, 2016
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acc_561_final_exam__1_.doc

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Grading SummaryThese are the automatically computed results Date Taken:of your exam. Grades for essay questions,Time Spent:and comments from your instructor, are in thePoints Received:"Details" section below.1 h , 41 min , 28 secs149 / 150Question Type:# Of Questions:# Correct:Multiple Choice3030Essay2N/AGrade Details - All QuestionsPage:1 2 31.Question :(TCO A, B, C) External users want answers to all of the followingquestions except:Student Answer:Is the company earning satisfactory income?Will the company be able to pay its debts as they come due?Did the company use a budget to plan its expenses?How does the company compare in profitability withcompetitors?Instructor Explanation:Points Received:Chapter 1 page 63 of 3Comments:2.Question :(TCO C) Borrowing money is an example of a(n):Student Answer:delivering activity.financing activity.investing activity.operating activity.Instructor Explanation:Points Received:Chapter 1 page 93 of 3Comments:3.Question :(TCO C) Buying and selling products are examples of:Student Answer:operating activities.investing activities.financing activities.delivering activities.Instructor Explanation:Points Received:Chapter 1 page 103 of 3Comments:4.Question :(TCO A) Resources owned by a business are referred to as:Student Answer:stockholders' equity.liabilities.assets.revenues.Instructor Explanation:Points Received:Chapter 1 page 93

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