...This exam is worth 250 points in total, which includes 12 multiple-choice questions at five points each for a total of 60 points, one essay question at 30 points, four essay questions at 40 points each for a total of 190 points. * You have three hours and 30 minutes to complete this exam. * This exam contains two pages. You don't need to complete them in order. My suggestion is to start with the 5 essay questions (page 2) and then go back to the multiple choice questions leaving about 1 hour for the multiple choice. This allots approximately 30 minutes to each essay (2.5 hours) and 5 minutes to each multiple choice (1.0 hours). Multiple Choice: there is one multiple choice question from each of the following chapters: 1, 2, 3, 4, 5, 6, 8, 9, 12, 14, 16, 17. Essay Question Topics: 30 point question (there is one of these) you will be given 6 transactions, and asked to indicate which fund each transaction would be recorded in. The fund summary document and week 1 & 2 document should be helpful here, as well as the notes you have taken on each fund. Review chapters 2, 4, 5, 6, 7 on what transactions are accounted for in each fund. 40 point essay questions (there are 4 of these) 1. Question covering uses of the general fund, proprietary funds and special revenue funds; accounting and reporting for enterprise funds (essay only – chapter 7) 2. Journal entries and portion of Statement of Operations for a Hospital (journal entries somewhat like 17-6) ...
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...STUDY GUIDE EXAM 1: (25 multiple choice questions worth 3 points each and 3 problems worth 45 points) 3 problems may cover following topics: journal entries, adjusting journal entries, closing entries, preparation of financial statements, multiple step income statement. Chapter 1: Purpose (objective) of financial accounting; cash vs accrual accounting (net operating cash flow vs. net income); history of standard setting – SEC, AICPA (formerly AIA), CAP, APB, FASB; process of standard setting (graphic 1-4); global accounting standards – IASC, IASB, IFRS, Covergence project; Sarbanes-Oxley Act 2002 – Key provisions; Conceptual framework – objective of financial reporting, qualitative characteristics (Graphic 1-7)- fundamental and enhancing qualitative characteristics, practical boundaries to achieving qualitative characteristics, elements of financial statements (Graphic 1-8 on page 27); Recognition and measurement concepts – assumptions, broad accounting principles. Chapter 2: Basic accounting equation, double entry system; Accounting Processing cycle – all steps 56; should know how to make journal entries, post journal entries to T-accounts, preparing unadjusted trial balance 64, adjusting journal entries 66 (all types), preparing adjusted trial balance, preparing financial statements, closing entries, post closing trial balance. Chapter 3: Balance Sheet – uses and limitations; Classification – Asset (current vs. non current), Liab. (current vs. noncurrent), Stockholders’...
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...Urinalysis Analyzer i. Beckman Advance Coagulation Analyzer j. Urisys Urinalysis Analyzer k. Sysmex UF50 Urine Microscopic Analyzer l. Vitek 2 Microbiology Analyzer m. Bac T Alert Blood Culture Analyzer n. Centaur Immunochemistry Analyzer o. RALS Point of Care System p. Sebia Capillarys 2 Electrophoresis System q. BD ProbeTec PCR System r. BioSite Triage System s. Mayo Reference Lab t. ARUP Reference Lab u. Nichols Institute Reference Lab 3. Must provide database to include the following: CPT codes, LOINC, LMRP for medical necessity. If provided from 3rd party, list sources. 4. Must support multiple laboratories at different locations. Logic must be included that traces all work by location. 5. Must support patient registration through the lab information system. Abbreviated registration required that merges with hospital registration. Only minimal information required for abbreviated registration. List minimum required data elements. 6. Must support the use of an EMPI. 7. Must allow for patient search by a. Social security number b. Patient name, including soundex c. Medical record number d. Account number e. Accession number f. Date of birth g. Ordering location/provider 8. Must allow for order entry using user defined procedure number and/or...
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...will be worth 150 points or15% of the course grade. The Midterm Exam is multiple pages and consists of 30 multiple-choice questions, one essay question, and one problem. The multiple-choice questions are worth 3 points each. Some of the multiple choice questions are problem-based. There is also one essay question worth 25 points and one problem worth 35 points. Terminal Course Objectives A, B, C, D, and E are all addressed on this exam. For the multiple choice questions worth 90 points, you should know: 1. Know what information is desired by external users of financial statements 2. Know about operating activities, investing activities, and financing activities 3. Be able to calculate net cash provided by operating activities in a simple situation (by identifying which activities are operating activities) 4. Know the definitions of asset, liability, equity, revenue, and expense 5. Know what items appear under each classification in the balance sheet 6. Know how to compute Earnings per Share 7. Know the composition of a Retained Earnings statement 8. Know about a ledger account, its different parts, the rules of debit and credit, and the meaning of the term normal balance of an account 9. Know about revenue recognition principle, matching principle, and time-period assumption 10. Know the computation net income under accrual accounting (revenues - expenses) 11. Know the meaning and purpose of adjusting entries, and the different...
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...will be worth 150 points or 15% of the course grade. The Midterm Exam is multiple pages and consists of 30 multiple-choice questions, one essay question, and one problem. The multiple-choice questions are worth 3 points each. Some of the multiple choice questions are problem-based. There is also one essay question worth 25 points and one problem worth 35 points. Terminal Course Objectives A, B, C, D, and E are all addressed on this exam. For the multiple choice questions worth 90 points, you should know: 1. Know what information is desired by external users of financial statements 2. Know about operating activities, investing activities, and financing activities 3. Be able to calculate net cash provided by operating activities in a simple situation (by identifying which activities are operating activities) 4. Know the definitions of asset, liability, equity, revenue, and expense 5. Know what items appear under each classification in the balance sheet 6. Know how to compute Earnings per Share 7. Know the composition of a Retained Earnings statement 8. Know about a ledger account, its different parts, the rules of debit and credit, and the meaning of the term normal balance of an account 9. Know about revenue recognition principle, matching principle, and time-period assumption 10. Know the computation net income under accrual accounting (revenues - expenses) 11. Know the meaning and purpose of adjusting entries, and the different...
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...Our Website ( https://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com (Multiple Choice) On April 1, 20X6, Ratchford Industries issued $500,000 of 12%, 10-year bonds. The bonds, which were issued at 103, pay interest on October 1 and April 1. The entry to record issuance of the bonds includes: A. a debit to Cash of $500,000. B. a credit to Bonds Payable of $503,000. C. a debit to Premium on Bonds Payable of $15,000. D. All of the above. E. None of these. (Multiple Choice) When interest income on a bond investment is less than the cash received: A. the Investment in Bond account is credited. B. the bond was likely purchased at a premium. C. Interest Income is credited. D. All of these. E. None of these. 1. (Multiple Choice) Stringer Corporation issued 5,000 shares of $2 par value common stock. The issue price was $7.50 per share. The entry to record this transaction includes a: A. debit to Cash for $10,000. B. debit to Paid-in Capital in Excess of Par for $27,500. C. debit to Common Stock for $10,000. D. credit to Gain on Stock $37,500. E. None of these. 2. 3. (True or False) The presence of goodwill in a balance sheet suggests that accounts of the subsidiary have not yet been consolidated with the parent company. 5. (Multiple Choice) Which formula “calculates” the return on assets ratio? 1. (Net Income + Interest Expense)/Average Assets...
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...TUTORIAL-7 1. Determine if an entry in Wikipedia is an example of transactional information or analytical information. From the customer’s perspective Wikipedia entries are an example of analytical information. They are using the information to research a topic, make a decision, or perform an analysis. From Wikipedia’s perspective each entry is an example of transactional information since it is their primary business to gain entries from individual contributors. 2. What is the impact to Wikipedia if the information contained in its database is of low quality? If Wikipedia contained information that was inaccurate its customers would discontinue using it as a source for information. It could also find itself in legal trouble if it allows entries stating inaccurate information about people, which is known as defamation of character. This point is demonstrated in the case when Wikipedia had to start restricting access by tightening its rules for submitting entries following the disclosure that it ran a piece falsely implicating a man in the Kennedy assassination. 3. Review the five common characteristics of high quality information and rank them in order of importance to Wikipedia. • • • • • Timeliness – Wikipedia’s information must be timely. If users are receiving old and outdated entries, or no entries for a new topic, they will not continue using Wikipedia. An encyclopedia that is outdated is not very useful. Accuracy – Wikipedia’s entries must be accurate, and if they...
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...Internet as part of its business solution. ING’s decision to facilitate use of the Internet for business operations poses many probable difficulties and risks. Use of an extranet can introduce an organization to unacceptable risks to its internal data and information systems. For example, allowing access to internal databases through an extranet webserver increases the opportunity for attackers to breach the network for several reasons. In ING’s case, it uses two Windows NT servers to provide web services protected by a single hardware firewall. Multiple brokers connect to ING through web services, causing multiple simultaneous openings in the firewall. Attackers can employ a port scanner to scan for open ports with known exploits to gain access. Furthermore, too many open extranet connections also create multiple entry points for viruses or other malicious code to infiltrate the network and cause damage. Another potential entry point for a security breach can originate from a broker’s own computer. Although it wasn’t stated in the case study, many times external brokers will purchase their own computer versus the company providing one. Thus, ING has little recourse to enforce its own security policies on that device. Whether the device contains inadequate access controls or if the users have a lack of understanding of security policies and requirements,...
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...The FI504 Final Exam will be an online open-book, open-notes, open-computer exam with a time limit of three hours and 30 minutes. It will be worth 250 points or 25% of your course grade. The Final Exam is two pages long and will consist of 14 multiple-choice questions worth five points each and six essays worth 30 points. Some of the multiple-choice questions are problem-based. Of the six essays, five of the essays are problem-based since this is an Accounting course. Terminal Course Objectives A, B, C, D, E, F, and G are all addressed on this exam. You should review the following concepts for this exam. For the multiple choice questions worth a total of 70 points, you should know: 1. The characteristics of the corporate form of business. 2. About the term "cash dividend". 3. Which accounts have debit or credit balances. 4. The difference between cash-basis versus accrual-basis of accounting. 5. The meaning and implications of using FIFO, LIFO, and weighted average cost-flow assumptions. 6. How to calculate depreciation using the straight-line method. 7. The journal entry for the issuance of bonds (at par, discount, or premium) and for the issuance of stock (at par or above par). 8. How to determine the market value of a bond. 9. The various adjustments that are made to net income in arriving at net cash flow from operating activities. 10. The different tools of financial statement analysis, and how each tool is used, as well...
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...Larson−Wild−Chiappetta: Fundamental Accounting Principles, Seventeenth Edition 5. Accounting for Merchandising Operations Text © The McGraw−Hill Companies, 2004 “I felt we should go into something that we had some connection to”—Dwayne Lewis (standing; Michael Cherry sitting) 5 A Look Back Accounting for Merchandising Operations A Look at This Chapter This chapter emphasizes merchandising activities. We explain how reporting merchandising activities differs from reporting service activities. We also analyze and record merchandise purchases and sales transactions and explain the adjustments and closing process for merchandisers. A Look Ahead Chapter 6 extends our analysis of merchandising activities and focuses on the valuation of inventory. Topics include the items in inventory, costs assigned, costing methods used, and inventory estimation techniques. Chapter 4 focused on the final steps of the accounting process. We explained the importance of proper revenue and expense recognition and described the closing process. We also showed how to prepare financial statements from a work sheet. Larson−Wild−Chiappetta: Fundamental Accounting Principles, Seventeenth Edition 5. Accounting for Merchandising Operations Text © The McGraw−Hill Companies, 2004 Learning Objectives CAP Conceptual Analytical Procedural merchandising activities C1 Describeincome components for aand A1 Compute the acid-test ratio and explain its use to assess liquidity...
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...Abstract—A database index is a data structure that improves the speed of data retrieval operations on a database table at the cost of slower writes and increased storage space. This paper describes data indexes in database management system and the types of data indexes and how the data organized. It focuses on the secondary index in the database and a secondary index on a non key field implemented. Index Terms—Database Indexes, Indexes, Secondary Indexes. (keywords) database system would look up an index to find on which disk blocks the corresponding record resides, and then fetch the disk block, to get the account record. Keeping a sorted list of account numbers would not work well on every large databases with millions of accounts, since the index would itself be very big; further, even through keeping the index sorted reduces the search time, finding an account can still be further time-consuming. Instead, more I. Introduction An index for a file in a database system works in much the same way as the index in any normal books. If we want to learn a particular topic (described by a word or phrase) in this book, we can search for the topic in the index at the back of the book, find the pages where it occurs, and then read the pages to find the information we are looking for. The words in the index are in sorted order, making it easy to find the word we are looking for. Moreover, the index much smaller than the book, further reducing the effort needed to find the word...
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...BUSN Unit 4 Exam | 15 Points of multiple choice: See chart of terms and definitions 35 Points of short answer/application questions: Segmentation (Figure 9-A); product-market grid; perceptual mapping; positioning and positioning statements; head to head versus differentiation positioning; repositioning; consumer decision process (Figure 5-1); level of involvement; problem solving routines; influences on consumer decision process (Figure 5-4); global companies and market strategies (Figure 7-A) | Term | Definition | Market Segmentation | Aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action. | Product Differentiation | A marketing strategy that involves a firm using different marketing ix activities to help consumers perceive the product as being different and better than competing products. | Market-Product Grid | Framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. | Product Positioning | The place an offering occupies in consumers’ minds on important attributes relative to competitive products. | Product Repositioning | Changing the place an offering occupies in consumers’ mind relative to competitive products. | Perceptual Map | Displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products...
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... Multiple Choice Questions ( 2 points each) Select the ONE, BEST Answer 1.|External users of accounting information include: E.|All of the above.|| 2.|Accounting certifications include the: E.|All of the above.|| 3.|The major activities of a business include: B.|Financing.|| 4.|The accounting process begins with: A.|Analysis of business transactions and events.|| 5.|A debit is: C.|A decrease in an account.|| 6.|Of the following accounts, the one that normally has a credit balance is: C.|Sales Salaries Payable.|| 7.|A balance column ledger account is: .|B.|An account with debit and credit columns for posting entries and another column for showing the balance of the account after each entry is posted.|C.|D.|E.|| 8.|The time period principle assumes that an organization's activities can be divided into specific time periods including: E.|All of the above.|| 9.|Profit margin is defined as: A.|B.|C.|Net income divided by net sales.|| 10.|A trial balance prepared before any adjustments have been recorded is: A.||B.|Used to prepare financial statements.|||| |On November 1 of the current year, Lois Bell began Lois Bell, Interior Design with an initial investment of $50,000 cash. On November 30 her records showed the following (alphabetically arranged) items and amounts: | Problem #1 (25 points ) .|From the information given, prepare a November income statement...
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...In week three we had three primary learning objectives. The three objectives were preparing closing entries, reversing entries, and a post-closing trial balance, preparing a financial statement worksheet, and to prepare a classified income statement, retained earnings statement and balance sheet. In order for a company to close the books at the end of a financial period the closing entries are made into the accounting journal based on the account balances on the adjusted trial balance. These closing entries transfer the balances of temporary accounts to permanent accounts. Reversing entries are done to cancel any adjusting entries involving payments or cash receipts that have not been made or received at this point. This allows a company to avoid explaining the connection of a particular payment or receipt from the current period to a previous period. A Post closing trial balance is a list of the balances after all closing entries are posted to the ledger. The post- closing trial balance also gives the opening balances for the new accounting period. The reason for using a financial statement worksheet normally comes from large companies. They need this worksheet due to a large amount of journal entries. Multiple accountants can add to this worksheet and fill out the needed information on the designated areas. This worksheet allows accountants to also quickly see mistakes that have been made. This also allows them to easily correct the mistake as well. When large corporations...
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...The ACCT504 Final Exam will be an online open-book, open-notes, open-computer exam with a time limit of three hours and 30 minutes. It will be worth 250 points or 25% of your course grade. The Final Exam is two pages long and will consist of 14 multiple-choice questions worth five points each and six essays worth 30 points. Some of the multiple-choice questions are problem-based. Of the six essays, five of the essays are problem-based since this is an Accounting course. Terminal Course Objectives A, B, C, D, E, F, and G are all addressed on this exam. You should review the following concepts for this exam. For the multiple choice questions worth a total of 70 points, you should know: 1. The characteristics of the corporate form of business. 2. About the term "cash dividend". 3. Which accounts have debit or credit balances. 4. The difference between cash-basis versus accrual-basis of accounting. 5. The meaning and implications of using FIFO, LIFO, and weighted average cost-flow assumptions. 6. How to calculate depreciation using the straight-line method. 7. The journal entry for the issuance of bonds (at par, discount, or premium) and for the issuance of stock (at par or above par). 8. How to determine the market value of a bond. 9. The various adjustments that are made to net income in arriving at net cash flow from operating activities. 10. The different tools of financial statement analysis, and how each tool is used, as well...
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