ADMS 2500 Study Guide - Midterm Guide: Electrical Contacts, Accounts Payable, Income Statement

• School: York University
• Department: Administrative Studies
• Course: ADMS 2500
• Professor: all

Document Summary

Instructions: only the mark sense sheet will be collected - - you may keep this midterm examination paper. Leave the last column of the student number blank: calculators are the only aid allowed, the exam is three hours in length and will run from approximately 6:00 pm to. They will not wait and they will not accept your sheet once they have passed. Choose the best answer to the following questions: a credit entry will increase an expense a, decrease a liability c, decrease owner"s equity, none of the above. *increase a revenue: which of the following accounts usually has a credit balance, prepaid expense, *allowance for uncollectible accounts, supplies d, none of the above. Inventories: xyz corporation signs a contract with a customer for the construction of a new. At the signing on november 1st, xyz corporation receives a cheque for ,000 as a deposit on the future construction.