Study Guides (390,000)
CA (150,000)
McMaster (9,000)
COMMERCE (1,000)
All (10)
Final

COMMERCE 1AA3 Study Guide - Final Guide: Bank One Corporation, Capital Account, Financial StatementExam


Department
Commerce
Course Code
COMMERCE 1AA3
Professor
All
Study Guide
Final

This preview shows pages 1-3. to view the full 22 pages of the document.
Version 1 Page 1
Last Name: _________________________
First Name: _________________________
STUDENT ID #: ___________________
COMM 2AA3
Version 1
Duration of Examination: 3 hours Emad Mohammad and Paul Ianni
McMaster University Final Examination December 14, 2012
Question Marks Points Earned
1 10 _________
2 5 _________
3 5 _________
4 20 _________
40 _________

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Version 1 Page 2
INSTRUCTIONS:
This examination paper comprises 18 pages (including cover page), 10 true/false questions, 1.0
point each, 25 multiple-choice questions, 2.0 points each, and 4 problems totaling 40 points. You
are responsible for ensuring that your copy of the question paper is complete. Bring any
discrepancy to the attention of the invigilator.
The true/false and multiple-choice questions are to be answered on the computer answer sheet
provided, and the problem questions are to be answered on the examination paper and in the
designated spaces.
Each question has only one correct answer. No correction factor will be applied to incorrect
answers.
On the question paper remember to fill in your name, student number and section number.
Only the McMaster Standard Calculator (Casio FX 991) may be used.
The special scanner, which scans the sheets, senses the shaded areas by their non-reflection of
light. A heavy mark must be made, completely filling the circular bubble, with an HB pencil.
Marks made with a pen or felt-tip marker will NOT be sensed. Erasures must be thorough or the
scanner may still sense a mark. Do NOT use correction fluid on sheets. DO NOT PUT ANY
OTHER MARKS OR WRITING ON THE SHEET, INCLUDING THE MARGINS.
Print your name, student number, course name, section number, and the date in the space provided
at the top of side 1 of the form. Then the sheet must be signed in the space marked SIGNATURE.
Mark your student number in the space provided on sheet Side 1 and fill in the corresponding
bubbles underneath.
Mark only ONE choice from the alternatives (A, B, C, D, and E) provided for each question. The
question number is to the left of the bubbles. Make sure that the number of the question on the
scan sheet is the same as the question number on the test paper.
Pay particular attention to the Marking Directions on the form
Begin answering questions using the first set of bubbles, marked “1”.
Part I: True/False (10 questions x 1 point each = 10 points)

Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Version 1 Page 3
For each of the following questions, choose the best answer then darken the identifying letter
to the corresponding number in the answer sheet.
1.
With an interest-bearing note, the amount of cash received upon issue of the note is less
than the note's face value.
A)
True
B)
False
2.
One of the preferences given to preferred share owners over common share owners is the
right to vote on major corporate issues.
A)
True
B)
False
3.
The term "revenue expenditures" refers to those amounts paid out which are expected to
provide revenue in the current period or a future period.
A)
True
B)
False
4.
A company will achieve financial leverage when it finances a new project that generates
annual return of 10% by a loan that charges annual interest of 12%.
A)
True
B)
False
5.
The sale of common stock in the secondary market should be credited to Share Capital
account.
A)
True
B)
False
6.
Rent received in advance and credited to a rent revenue account, which is still unearned at
the end of the period, will always require an adjusting entry crediting a liability account
for the amount still unearned
A)
True
B)
False
You're Reading a Preview

Unlock to view full version