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 Nikki Fulton

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1. BA220 Financial Accounting (01-MAR-17 – 25-APR-17 [9082])
2. Week 4 “Inventory Accounting”
3. Take Test: W4 “Midterm”

Take Test: W4 “Midterm”

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 Test Information

Instructions

Description Instructions Multiple AttemptsNot allowed. This test can only be taken once.Force CompletionThis test can be saved and resumed later.

Question 1

1. What is the accounting equation?

2.5 points   

Question 2

1. Do you use debit or credit to increase an asset?

2.5 points   

Question 3

1. Do you use debit or credit to increase an account under Liabilities?

2.5 points   

Question 4

1. Do you use debit or credit to decrease an account under Owner’s/Stockholder’s Equity?

2.5 points   

Question 5

1. Fill in the missing number in place of the question mark:

   Assets =Liabilities + Owner’s Equity

   $40,000 =_______+$30,000

2.5 points   

Question 6

1. What component within the accounting equation would “Cash” fall under?

2.5 points   

Question 7

1. What component within the accounting equation would “Accounts Payable” fall under?

2.5 points   

Question 8

1. How would you increase a business’s “Land” account, debit or credit?

2.5 points   

Question 9

1. What component within the accounting equation would “Service Revenue” fall under?

2.5 points   

Question 10

1. Do you use debit or credit to decrease an “Asset” account?

2.5 points   

Question 11

1. These are main types of accounting in which businesses incorporate.  One of these is Cash Base Accounting.  What is the other one?

2.5 points   

Question 12

1. Fill in the blank for the following statement.  Under Cash Base Accounting, you record the transactions as _____ flows in and out of the business.

2.5 points   

Question 13

1. Fill in the blank for the following statement.  Accrual Base Accounting is when the accountant records the transactions are the services and expenses are _________.

2.5 points   

Question 14

1. Which accounting method (Case Base vs. Accrual Base) gives a more accurate picture of the financial health of a company?

2.5 points   

Question 15

1. If a company does not specify (especially in your homework) whether they practice Accrual Base Accounting vs. Cash Base Accounting, which one would you automatically assume is being utilized by the accounting team?

2.5 points   

Question 16

1. The financial records of the owner and the business should NEVER be combined.  This is referred to as the, “__________________”. 

2.5 points   

Question 17

1. List the four Financial Statements in the order they would be created which a for-profit business would produce after each accounting period:

2.5 points   

Question 18

1. Which Financial Statement calculates Net Income/Profit for a business?

2.5 points   

Question 19

1. Which Financial Statement shows the “The Accounting Equation” and how it balances?

2.5 points   

Question 20

1. Which Financial Statement shows the changes in the dollar amount of Ownership within the business?

2.5 points   

Question 21

1. An expense account is under what section of The Accounting Equation?

2.5 points   

Question 22

1. How do you increase an expense account, debit or credit?

2.5 points   

Question 23

1. How do you increase all other Owner’s/Stockholder’s Equity Account, other than expense and owner withdrawal amounts?

2.5 points   

Question 24

1. For accounts under the Owner’s/Stockholder’s Equity account which are increased with a debit, what are these referred to?

2.5 points   

Question 25

1. Under what part of The Accounting Equation are Prepaid Expenses listed under?

2.5 points   

Question 26

1. Under what section The Accounting Equation are Revenue accounts listed under?

2.5 points   

Question 27

1. How are Revenue accounts increased, debit or credit?

2.5 points   

Question 28

1. Input in the missing numbers within this journal entry (labeled with a “?”)

   10/1/2015 Prepaid Rental Expense $3,000

   Cash $3,000

   Prepaid 3 months’ worth of rent ($1,000 x 3)

   10/31/2015 Rental Expense    ?

   Prepaid Rental Expense    ?

   (Recognized one month of expense out of Prepaid Expense Account)

2.5 points   

Question 29

1. Where is the unearned revenue account listed under The Accounting Equation?

2.5 points   

Question 30

1. In the general journal when entering in the debits and credits, which entry is usually on top, credit or debit?

2.5 points   

Question 31

1. What are the three inventory accounting methods discussed within the lecture?

2.5 points   

Question 32

1. Which inventory accounting method is no longer accepted by General Accepted Accounting Principles (GAAP)?

2.5 points   

Question 33

1. What dictates the reason why an accountant would choose one of the three inventory accounting methods (FIFO, LIFO, or Weighted Average)?

2.5 points   

Question 34

1. What is the principle called for when you match the expenses incurred with the revenue made, in which satisfies the purpose for which the expense was incurred?

2.5 points   

Question 35

1. Which inventory method accounts for the most recent inventory purchased first within its calculation?

2.5 points   

Question 36

1. Which inventory method accounts for the least recent inventory purchased first within its calculation?

2.5 points   

Question 37

1. Which inventory method accounts for neither least recent or most recent inventory purchased first within its calculation?

2.5 points   

Question 38

1. From the accounting equation, which part of the equation represents what you owe?

2.5 points   

Question 39

1. From the accounting equation, which part of the equation represents what you own?

2.5 points   

Question 40

1. From the accounting equation, which part of the equation represents what you have?

2.5 points   

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1. GS102 Introduction to Life Science (01-MAR-17 – 25-APR-17 [9360])
2. Week 7 “Ecology and Ecosystems”
3. Take Test: W7 Quiz

Take Test: W7 Quiz

Content

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 Test Information

Instructions

Description Instructions Multiple AttemptsNot allowed. This test can only be taken once.Force CompletionThis test can be saved and resumed later.

Question 1

1. Fungi exhibit certain characteristics. One of these characteristics is that they

   A.

   are capable of carrying on photosynthesis.

   B.

   reproduce using seeds and pollen.

   C.

   are prokaryotes.

   D.

   reproduce using spores.

   E.

   lack cell nuclei.

5 points   

Question 2

1. Which of the following are adaptations to land of both gymnosperms and angiosperms but are lacking in ferns and mosses?

   A.

   spores

   B.

   roots, stems, and leaves

   C.

   pollen and seeds

   D.

   fruits and flowers

   E.

   vascular system

5 points   

Question 3

1. The segmented worms of the phylum Annelida

   A.

   move by use of flagella.

   B.

   display radial symmetry.

   C.

   possess setae on each segment.

   D.

   are acoelomate.

   E.

   have an open circulatory system.

5 points   

Question 4

1. Green algae such as Ulva demonstrate an alteration of generations. The diploid phase is called the

   A.

   zygote.

   B.

   gametophyte generation.

   C.

   sporophyte generation.

   D.

   diploid generation.

   E.

   embryo.

5 points   

Question 5

1. In general, mammals are not good at dispersing chili plant seeds because

   A.

   the mammals do not travel very far before they release the chili seeds.

   B.

   the seeds die as they pass through the digestive tract.

   C.

   the chili seeds do not stick to the mammals’ fur.

   D.

   chili seeds are dispersed mainly by the wind.

   E.

   the mammals are the main pollinators for the chili plant.

5 points   

Question 6

1. In cnidarians, nematocysts are important in

   A.

   obtaining oxygen from the water.

   B.

   food digestion.

   C.

   obtaining prey.

   D.

   excretion of wastes.

   E.

   movement.

5 points   

Question 7

1. It is generally thought that animals have undergone four major physiological and anatomical innovations during their evolution. These are (in no particular order)

   A.

   multicellularity, bilateral symmetry, origin of patterns of embryonic development, development of tissues.

   B.

   development of the versatile forelimb, multicellularity, origin of patterns of embryonic development, development of tissues.

   C.

   bilateral symmetry, development of tissues, origin of the multichambered heart, origin of patterns of embryonic development.

   D.

   origin of patterns of embryonic development, development of the versatile forelimb, origin of the multichambered heart, multicellularity.

   E.

   development of tissues, photosynthesis, bilateral symmetry, multicellularity.

5 points   

Question 8

1. Which of the following adaptations to life on land is found in both insects and modern reptiles?

   A.

   metamorphosis from a larval form

   B.

   two pairs of walking legs

   C.

   body surfaces that resist evaporation

   D.

   ability to fly

   E.

   tracheae to distribute oxygen

5 points   

Question 9

1. Which of the following is not a characteristic differentiating Neanderthals from modern humans?

   A.

   Neanderthals were stronger.

   B.

   Neanderthals had smaller brains.

   C.

   Neanderthals had larger noses.

   D.

   Neanderthals were shorter.

   E.

   Neanderthals had projecting brow ridges.

5 points   

Question 10

1. All members of the phylum Chordata share

   A.

   exoskeletons.

   B.

   a notochord present sometime in their lives.

   C.

   tails present throughout their lives.

   D.

   gills present throughout their lives.

   E.

   a vertebral column.

5 points   

Question 11

1. It is generally thought that four critical innovations arose during the evolution of our ape-like ancestors into humans. All of the following are innovations except

   A.

   use of brain power for abstract thought.

   B.

   development of the opposable thumb.

   C.

   bipedalism.

   D.

   toolmaking.

   E.

   expansion of the human brain.

5 points   

Question 12

1. This characteristic allows fungi to withstand heat and drought conditions.

   A.

   specialized organelles

   B.

   hyphae

   C.

   mycelia

   D.

   cell walls

   E.

   spores

5 points   

Question 13

1. Plants have adapted to dry land by evolving all of the following except

   A.

   secreting a waxy coating to prevent water loss.

   B.

   structures to protect reproductive cells and embryos.

   C.

   tissues to conduct water through the plant.

   D.

   forms of chlorophyll more efficient at capturing light.

   E.

   association with mycorrhizae to improve mineral uptake.

5 points   

Question 14

1. Lichens are

   A.

   only found growing on living matter.

   B.

   symbiotic associations between a fungus and an alga.

   C.

   parasitic interactions between a fungus and an alga.

   D.

   insensitive to changes in the environment.

   E.

   capable of causing some obscure diseases.

5 points   

Question 15

1. In bryophytes, the rhizoids

   A.

   obtain nutrients.

   B.

   serve as attachment structures.

   C.

   lure possible prey.

   D.

   obtain water.

   E.

   are involved in reproduction.

5 points   

Question 16

1. All of the following are parts of a flower except the

   A.

   ovary.

   B.

   cuticle.

   C.

   stamen.

   D.

   carpel.

   E.

   fruit.

5 points   

Question 17

1. Which of the following characteristics is not shared by typical birds and mammals?

   A.

   four-chambered heart

   B.

   four limbs

   C.

   milk production

   D.

   insulating skin structures

   E.

   endothermy

5 points   

Question 18

1. Cnidarians and ctenophores are similar in that they both have

   A.

   nematocysts.

   B.

   radial symmetry.

   C.

   mesoderm.

   D.

   a pseudocoel.

   E.

   a digestive tract with two openings.

5 points   

Question 19

1. Mammals have two traits that set them apart from all other animals. These are

   A.

   amniotic eggs and milk production.

   B.

   four-chambered heart and body hair or fur.

   C.

   four-chambered heart and milk production.

   D.

   body hair or fur, and milk production.

   E.

   body hair or fur, and being homeothermic.

5 points   

Question 20

1. In plants, the secondary metabolites are primarily responsible for

   A.

   protection against ultraviolet radiation.

   B.

   food gathering.

   C.

   defense.

   D.

   overcoming air pollutants.

   E.

   nutrition.

5 points   

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