...Name______________________ Sample Test Key for Midterm 1 (Chapters 1 – 4) Multiple Choice - Circle the one best answer. 1. The primary accounting standard-setting body in the United States is the a. Securities and Exchange Commission. b. Internal Revenue Service. c. Financial Accounting Standards Board. d. Corporate Board of Directors. 2. An increase in an expense a. increases revenues. b. increases assets. c. decreases liabilities. d. decreases capital. 3. A corporation with total owners’ equity of $85,000 paid a $5,000 business debt. As a result of this transaction, total capital equity a. did not change. b. increased by $5,000. c. decreased by $5,000. d. increased to $90,000. 4. The right side of an account is always a. the debit side. b. the credit side. c. the balance of that account. d. carried forward to the next accounting period. 5. Posting is the process of a. preparing a chart of accounts. b. adding a column of figures. c. transferring journal entries to ledger accounts. d. recording entries in a journal. 6. The purpose of recording depreciation on productive assets is to a. reflect the decline in the market value of the assets each period. b. reduce income when the company has an exceptionally profitable year. c. be in conformity with the revenue recognition principle...
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...APPRAISER I TEST - SAMPLE MATH QUESTIONS (08-16-91) (Answers appear on page 7) 1. What is the yield on an investment of $15,000 for 3 years at 9%? 2. How much would you need to invest in order to earn $6,000 in 6 months at a rate of 12%? 3. Escrow is to close on February 1st. Taxes for the year were $2,400. The seller paid the first installment. How much money is due from the seller? From the buyer? 4. I want $80,000 net to me on the sale of my house. If total selling costs run 9%, what should I ask as a selling price in order to produce my net figure? 5. Escrow is due to close on April 14th. Rents are to be prorated. Total rental income for the month is $560.00. How much belongs to the seller? How much to the buyer? (Assume all months have 30 days, all years to have 360 days. The day of closing belongs to the buyer.) 6. How much can I afford to pay for an apartment house if it produces a net income of $6,800 annually and a market survey indicates I should earn 9.5% on my money? 7. A salesperson sells 2-3/4 sections of land to a subdivider for $50.00 per acre. What is the commission if the salesperson receives 60^ of a 5% commission? (Reminder: 1 section = 640 acres.) 8. A property sells for $21,250. You as the listing salesperson are to receive 12-1/2% of the total 7% commission collected on the sale. What amount will you receive? 9. A real estate broker, at closing, deducted a commission of 6%,...
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...Question 1 The management at BuyRite grocery stores wishes to estimate the amount of time that customers are spending, on average, in its stores and in a checkout line. The most obvious approach for determining this information is to simply record when a customer enters and exits the store. However, it is difficult to track the entering and exiting times of specific customers. We will look at the problem using an alternative approach. Over the past two weeks, the following data have been collected at BuyRite’s newest store during busy hours (this BuyRite is rather large and typically has 7 open checkout lines). For simplicity, let us assume that the overall capacity at checkout lines is higher than the arrival rate of customers into the store. Average rate of customers entering store = 305 customers/hour Average number of customers in store = 146 customers Percentage of customers who do not make a purchase = 5% Average number of customers in the checkout lines = 24 customers As their consultant, you have been asked by BuyRite’s management to address the following questions: (a) How much time on average does a customer spend in the store? (b) How much time on average does a customer spend waiting? Question 2 The following two sub questions (a) and (b) are independent from each other. (a) The student recreation center at a large Midwestern university has a computerized stationary bicycle. During peak periods, students arrive to use that...
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...Name___________________________ Class______________ Date_______________ I. Fill in the blanks with one of the following words. (Some may have more than one correct answer.): because, because of, since, (in order) to, so, or so that. 1. Ken works hard __________ buy a house. 2. Ken and his wife are attending Borough of Manhattan Community College _________ they can become certified accountants. 3. Ken’s wife Julia missed the class last night ____________ her new work schedule. 4. Julia did not use to work, but now she has a part-time job __________ she wants to help the family financially. 5. One of Julia’s friends started to work as well _______ she wanted to earn some money too. II. Fill in the blanks with simple past, present perfect or present perfect continues. 6965 Troy Avenue Chicago, Illinois 60659 June 4, 2013 Mr. Ray Johnson, General Manager Paradise Hotel 226 West Jackson Boulevard Chicago, Illinois 60606 Dear Mr. Johnson: I would like to apply for the job of hotel office manager at the Paradise Hotel.I come from Mexico City, where my family owns a hotel. I _____ (work) in the family business part-time when I was in high school. After high school, I _______ (study) hotel and restaurant management at the National University of Mexico. I _______ (come) to the U.S. in 1998 because I wanted to continue my education and learn about managing larger hotels. Since I came to the U.S., I ____________ (work) in several American...
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...http://www.softwaretestinghelp.com/ Test Plan Template: (Name of the Product) Prepared by: (Names of Preparers) (Date) TABLE OF CONTENTS 1.0 INTRODUCTION 2.0 OBJECTIVES AND TASKS 2.1 Objectives 2.2 Tasks 3.0 SCOPE 4.0 Testing Strategy 4.1 Alpha Testing (Unit Testing) 4.2 System and Integration Testing 4.3 Performance and Stress Testing 4.4 User Acceptance Testing 4.5 Batch Testing 4.6 Automated Regression Testing 4.7 Beta Testing 5.0 Hardware Requirements 6.0 Environment Requirements 6.1 Main Frame 6.2 Workstation 7.0 Test Schedule 8.0 Control Procedures 9.0 Features to Be Tested 10.0 Features Not to Be Tested 11.0 Resources/Roles & Responsibilities 12.0 Schedules 13.0 Significantly Impacted Departments (SIDs) 14.0 Dependencies 15.0 Risks/Assumptions 16.0 Tools 17.0 Approvals 1.0 INTRODUCTION A brief summary of the product being tested. Outline all the functions at a high level. 2.0 OBJECTIVES AND TASKS 2.1 Objectives Describe the objectives supported by the Master Test Plan, eg., defining tasks and responsibilities, vehicle for communication, document to be used as a service level agreement, etc. 2.2 Tasks List all tasks identified by this Test Plan, i.e., testing, post-testing, problem reporting, etc. 3.0 SCOPE General This section describes what is being tested, such as all the functions of a specific product, its existing interfaces, integration of all functions. Tactics List here how you will accomplish the items that you have listed in the "Scope" section. For...
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...Sample Master Test Plan TEST PLAN IDENTIFIERRS-MTP01.3 REFERENCES None Identified. INTRODUCTION This is the Master Test Plan for the Reassigned Sales Re-write project. This plan will address only those items and elements that are related to the Reassigned Sales process, both directly and indirectly affected elements will be addressed. The primary focus of this plan is to ensure that the new Reassigned Sales application provides the same level of information and detail as the current system while allowing for improvements and increases in data acquisition and level of details available (granularity). The project will have three levels of testing, Unit, System/Integration and Acceptance. The details for each level are addressed in the approach section and will be further defined in the level specific plans. The estimated time line for this project is very aggressive (six (6) months), as such, any delays in the development process or in the installation and verification of the third party software could have significant effects on the test plan. The acceptance testing is expected to take one (1) month from the date of application delivery from system test and is to be done in parallel with the current application process. TEST ITEMS The following is a list, by version and release, of the items to be tested: A. EXTOL EDI package, Version 3.0 If a new release is available prior to roll-out it will not be used until after installation. It will be a separate upgrade/update...
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...MERIT SYSTEM SERVICES - SAMPLE ELIGIBILITY WORKER I - ITEMS READING AND UNDERSTANDING WRITTEN MATERIALS DIRECTIONS:Read each question carefully. Select the best answer and darken the proper space on the answer sheet. 1. Through advertising, manufacturers exercise a high degree of control over consumersdesires. However, the manufacturer assumes enormous risks in attempting to predict what consumers will want and in producing goods in quantity and distributing them in advance of final selection by the consumers. The paragraph best supports the statement that manufacturers 1. distribute goods directly to the consumers 2. can eliminate the riskof overproduction by advertising 3. can predict with great accuracy the success of any product they put on the market 4. must depend upon the final consumers for the success of their undertakings 2. In the relations of humans to nature, the procuring of food and shelter is fundamental. W ith the migration of humans to various climates, ever new adjustments to the food supply and to the climate became necessary. The paragraph best supports the statement that the means by which humans supply their material needs are 1. varied 2. limited 3. accidental 4. inadequate 3. Some fire-resistant buildings, although wholly constructed of materials that will not burn, may be completely gutted by the spread of fire through their contents by way of hallways and other openings. They may even suffer serious structural damage by the...
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...ACCT 3302 Fall 2012 Exam 3 1 (20): 2 (10): 3 (10): 4 (16) 5 (16): 6 (8): 7 (5): 8(15): 9 (5): 10 (5): Total (100) _____ Name: INSTRUCTIONS 1. Your test should include 8 pages (cover sheet plus 7 pages of test). All pages should be turned in at the completion of the exam. 2. On the problems, include ALL computations, properly labeled in the space provided. Partial credit may be given at the discretion of the instructor. 3. Calculators may be used. They cannot be shared. You may not use the calculator on a cell phone. 4. If you have a question or problem, ask the instructor. 5. The minimum penalty for academic dishonesty on this exam will be a grade of 0 for this examination. Academic dishonesty includes giving aid to or receiving aid from another student during this exam. 6. No hats. No cell phones I certify by signing below that I have neither given nor received aid in completing this examination. Signature Date I. Accounting Concepts 20 points. A. Accounting Change. ABC Company has been using specific identification inventory method. However, it has grown and has a broader array of products. The company would like to use the greater efficiency of the FIFO method on a periodic basis for financial reporting. (a) Is ABC Company allowed to change its inventory methods? Why or why not? (b) Assuming that the company is allowed...
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...farmers, institutions and casual users. Among these casual user segment was considered to be the future growth market. Hamilton Power Tools thus hired Consumer Metrics of Chicago to conduct two research projects. The first one was a projective technique known as Thematic Apperception Test(TAT) using picture response techniques. The basic premise of TAT research is that it in an unstructured and indirect manner encourages respondents to project their emotions, needs, motives, attitude and values at a sub-conscious level. Purpose of research: The research was primarily exploratory to gain insights into reasons why people make certain purchases. Mr. Campagna also wanted to get a flavour of language people use in talking about chain saw. Analysis of method: The research was conducted in states of Illionois and Wisconsin. People who were selected for TAT were screened on basis of whether they planned to purchase a chain saw in next 12 months or already owned a chain saw or had used a chain saw in past. However this was the only information collected, ideally some more information must have been collected regarding their demographics and more regions could have been considered. They restricted the sample to only two states. How should Conway and Baggins respond to Hamilton’s question? Hamilton...
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...” 2015). Quantitative research “is about asking people for their opinions in a structured way so that you can produce hard facts and statistics to guide you. To get reliable statistical results, it’s important to survey people in fairly large numbers and to make sure they are a representative sample of your target market.” ("What Is Quantitative Research?” 2015). There also are descriptive and statistical approach’s in this paper that will help with understand what is best for you business research. When constructing a business research there are several sampling methods that can be used. Some sampling methods would be simple random sampling, systematic sampling, cluster sampling and quota sampling and etc. The article I chose to do is called Qualitative and quantitative methods for sampling zooplankton in shallow coastal estuaries. “Many different devices are used for sampling zooplankton. Every sampler has its advantages and limitations in terms of sampling ease and efficiency, which is why hydro biologists search for devices that could increase sampling efficiency and decrease human effort (Nunez et al. 2008).” In this article they used the plankton net sampling method and it is used to sample the lake or pond.” These sampling methods all have their strengths and weakness and to choose...
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...sampling Cluster sampling is a sampling technique where the entire population is divided into groups, or clusters and a random sample of these clusters are selected. All observations in the selected clusters are included in the sample. Cluster sampling is typically used when the researcher cannot get a complete list of the members of a population they wish to study but can get a complete list of groups or 'clusters' of the population. It is also used when a random sample would produce a list of subjects so widely scattered that surveying them would prove to be far too expensive, for example, people who live in different counties in the Country. Advantages One advantage of cluster sampling is that it is cheap, quick, and easy. Instead of sampling the entire country when using simple random sampling, the research can instead allocate resources to the few randomly selected clusters when using cluster sampling. A second advantage to cluster sampling is that the researcher can have a larger sample size than if he or she was using simple random sampling. Because the researcher will only have to take the sample from a number of clusters, he or she can select more subjects since they are more accessible. Disadvantages One main disadvantage of cluster sampling is that is the least representative of the population out of all the types of probability samples. It is common for individuals within a cluster to have similar characteristics, so when a researcher uses cluster sampling, there...
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...Acceptability Test (Sensory Evaluation and Product Development) Submitted by: Group 3 Culiat, Lea G. Dimasacat. Mariel Garejo, Nikki Rose S. Pasia, Nekke Lettie Joy A. Submitted to: Engr. Marielli Katherine C. Untalan February 16, 2013 I. Introduction: Consumer acceptability tests are one form of quantitative affective test. Quantitative affective tests are those which determine the responses of a large group (50 to 400) of consumers to a set of questions regarding preference, liking, sensory attributes, etc. The analysts use Hedonic Scale Rating Test for determining the consumer acceptability of the product sample. This method shows the degree of liking for a product sample to be evaluated and indirectly shows preference. However, it does not show the reason for acceptability. In addition, it cannot be used for quality control purposes since it does not show product development. II. Objectives: 1. To learn to conduct acceptability tests. 2. To know and understand the different types of consumer acceptability tests 3. To understand the principle involved in consumer acceptability test 4. To learn and understand how to analyze data from consumer acceptability test III. Materials: * Watermelon wine * Master sheet * Sample containers * Trays * Cups * Napkins * Graduated cylinder IV. Method: A. Determine the project objective. B. Determine test objective. ...
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...expectation is that there will not be a significant difference between the two. The Populations used to support my hypothesis are three starting (NFL) DBs from each team in the American Football Conference (AFC) and three starting WRs from each team in the National Football Conference (NFC). The variable used is height in inches. For example 5’11” = 71 inches and 6’0” = 72 inches. The data collected is from Athlon Sports 2014 NFL Preview magazine. This data can also be found at http://athlonsports.com/. Both magazine and website have completed 2014 rosters with individual player heights available. To avoid bias I chose only the starters/best players for each team in each conference. In a game the best DBs will defend the best WRs. This makes the samples chosen the best representation of the population. The first step to examining my research question is to establish a Null and Alternate hypothesis. Null Hypothesis: H0 : μ1 - μ2 = 0 Alt. Hypothesis: HA : μ1 - μ2 > 0 μ1 = DBs and μ2 = WRs The Null is that the difference between the two groups (DBs & WRs) is 0. The Alternate is a single right tailed hypothesis and states that the DBs height is greater than the WRs. My expectations are that there is no significant difference between the two and the Null will not be rejected. The screenshot below shows the two different populations...
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...Population/Sampling Method Wal-Mart is a giant retail cooperation that is not able to provide adequate pay and benefits to the current employees (“Making change at Wal-Mart, 2014). One possible solution concerning this issue is to conduct research and to properly organize a way to survey or interview employees who are being directly affected. The target group in this research project would be Wal-Mart employees that are willing to participate in the study. These employees will range from different age groups, various backgrounds and cultures. Access to these employees would be during work hours or before or after work. Employees could come in early or stay late. Interviews could also be performed on days when business is slow. There are several types of sampling methods that can be used such as: simple random sampling, stratified sampling, systematic sampling, and cluster sampling (“Choosing a Sampling Method”, 2013). Random sampling is an effective way to measure the perspective of a group of people that is too large to interview (“Basics of choosing a survey population”, 2008). In this research, the random sampling will be the method used so that favoritism or being bias does not occur. Instruments Used Often times large groups of people are broken down into smaller groups because it can be too expensive and too time consuming (“Basics of choosing a survey population”, 2008). Some examples of instruments used to collect data are : informal and formal surveys, direct and...
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...Assignment One: Data Sheet 1 Kimmy Givins NorthCentral University Dr. Boysen-Rotelli 08/10/2014 Date File 1 Chapter One 1) Determine whether the evaluated group is a population or a sample. a) Based on a randomly selected group of 500 patients with high cholesterol, it was found that 67% have heart disease. Is this a population or a sample; explain your answer. Sample is made up of of the raw data collected from 500 patients which is the sample and 67% is the sample statistics. Bennett, Briggis, & Triola (2009) the raw data is collected from a subnet of patient with high cholesterol (p.3). Which indicate this as a sample from the raw data and sample statistics. b) An investigation of 150 randomly selected local restaurants concluded that 42% of local...
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