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COMM 305
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COMM 305 ALL SECTIONSMID TERM EXAMINATIONFALL 2013Dear StudentsI hope you are doing well and getting ready for the midterm exam The midterm exam has five questions covers chapter 1 to chapter 5Do not forget to write your class section name and student ID number on your lined bookletThis examination will last Three 3 hours and consists of Five 5 Questions printed on 10 pages including this page Make sure your copy of the exam is complete before startingYou may answer the questions in any order In front of the booklet place the number associated to the order in which they are done Your answers may be written in pencil or inkRead the Questions carefully and budget your time carefully Show details of all work andcalculations in order to benefit from part marks Attempt all QuestionsThis is a closed book examination no reference to notes etc is allowedHowever a silent handheld fourfunction calculator and one standard not electronic dictionary are permitted When you have finished submit your lined answer booklets IBM sheet with your name and keep exam questions Please enumerate your exam booklets QuestionTopicMarksQ1Multiple Choice 25 Questions3125Chapter 1 to Chapter 5Q2CHAPTER 215Q3CHAPTER 31775Q4CHAPTER 418Q5CHAPTER 518TOTAL100COM305MIDTERMEXAMPage1OF11Question I 3125 marksSelect the best answer1Managerial accountingais governed by generally accepted accounting principlesbemphasizes specialpurpose informationcpertains to the entity as a whole and is highly aggregateddis limited to cost data2Which of the following is not one of the categories in Standards of Ethical Conduct for Practitioners of Management Accounting and Financial ManagementaConfidentialitybCompetencecIntegritydIndependence3What criteria must be met in order to consider the work of factory employees to be direct labouraIt must be promptly associated with converting materials into productsbIt must be physically associated with converting materials into productscIt must be materially associated with converting materials into productsdIt must be periodically associated with converting materials into products4Outside of the relevant range which of the following outcomes is unlikelyCOM305MIDTERMEXAMPage2OF11
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