York University AP/Adms 2500.03
Introduction to Financial Accounting
Midterm Examination #I Test Form A
Time: 2.0 hours Summer 2009 Questions: 20
l. Submit: Only thepink mark sense sheetwill be collected:you may keep thismidterm
examination paper. Mark your answers on it for
2. Mark Sense Sheet:
. Record your name and studentnumber and answer allquestions on the computer mark
(soft pencil.Bring several pencilsin case one
sense sheetprovided with an HB lead)
breaks. The computer willnot recognize ink orhard lead pencils
. Test Form is'A'and Code isyour Section (inthe leftcolumn)
. Fillin the bubblesfor your name and studentnumber in pencil (yourphone number isnot
required). Leave the lastcolumn ofthe student
. Ifyou change an answer, use a high qualityeraserto completely remove the previous
mark. If the computer senses two answers to a question,only the firsscanned will be
3. Exam Aids:
. Only calculatorswithout alphanumeric programmable memories areallowed. Itis
strongly suggested you bring a couple ofcheap 4 functioncomputers to theexam in case
you a"fancy" calculator.
one fails.Be prepared to be challenged by invigilatorsif bring
. Compact foreignlanguage/English dictionariesmay be used. However, these willbe
examined by invigilators.fthereare any loose pages or handwriting inthe dictionary,it
will be seizedand you willbe charged with academic dishonesty'
. In 2500, invigilatorsanswer no questions of interpretation.hey will
questions regarding possible errors/typos/missing datato thehead invigilator.fyou
believe a question containsan error and do notreceive a response,make a detailednote
front ofyour exam and submit it withyour answer sheet.
. Carefulbudgeting oftime on an accounting exam is essential.ring a watch and check
your progressregularly.Poor time management is theost common reason forpoor
exam performance in accounting.
. Itis alwaysa good ideato attempt thequestions you deem easiestfirst.n an intemrpted
exam thatis not restarted,ur exam will be scoredbased on questions attempted.
. is essentialo transferyour answers to thegrading sheet after eachquestion incase the
exam is interruptedby firealarm.
. The last tenminutes of an exam should be devoted todouble checking your transfers.
What you submit iswhat isgraded. Ifyou have not transferredyour answers tothe mark
exam, the invigilatorill not wait.Your answer sheet willbe
sense sheetat the endof the
seized and itwillbe graded based on whatever questions have choices filledin. Remember there is nopenalty forguessing on amultiple choice computer graded exam.
Submit a choice forevery question.Also note thatin2500, choice (E) None ofthe above
does indeed representa frequent correct choice to questions.
5. Exam room regulations:
. All personal belongings either onthe flooror at thefront ofthe exam room. All items on
your desk willbe examined by invigilators
Bring appropriate ID asproof of registration.You willbe required to sign inand show
documentation. Students without ID willbe allowed towrite the exam, but
will be photographed and asked to submit registrationand photo ID to the School of
Administrative Studies the next day.
No student may leave the exam in the firshour. No studentmay start the exam afteran
hour. Students requiring restroom visitsust be accompanied by an invigilator.
The proctors willannounce when there are 15 minutes remaining and any answers not
transferred should be recorded at this time.No one is to leavetheir seatin thelast 15
When time is called, theroctors willgo down therows collectingyour answer sheets
and this exam paper. They willnot wait and they will not accept your sheet once they
grade zero recorded for the
have passed. Any violation ofthisprotocol willresult ina of
6. Fire Alarms
. A frequent occurrence in York exams. In the event ofa firealarm, you areto leave your
exam and answer sheet face down on your desk and immediately proceed outsidewith
your on the back of the exam so you
coats and all personal belongings. Print surname
know which seat toreturn to.An invigilator will lead thegroup outside to aplace of
safety. There is to be no talking duringthe evacuation or outside.Most rooms are cleared
the alarm. You willbe told after
so that exams can recommence. within 30 minutes of
this time whether to reenter theroom and recommence the exam orto go home.
7. Academic Dishonesty
. You are reminded that cheating isa serious offensewhich can resultin expulsion from
o Exams atYork are held inregular classrooms, which may involve tiered seating.
Consequently, neck exercises arenot allowed during exams. Firstinstance ofwandering
eyes has the studentrelocated to thefront ofthe room. Second instance resultsinseizure
8. Special Instructions
. This exam is dividedinto two parts.Part I isa case,which is relatedtoa series of
questions based on that case.While an attempt has been to minimize the impact of the
impact of carry-forward errors inquestion design, some questions of necessity are related
tomultiple computations or previous questions, so an elrorpotentially can have multi-
. Part2 is adifferent scenariounrelated to the case. PART l: SONGLA.^/'S fENll/^S ACADEMY
(Questions Ito I6are based on this cose.llquestionsare equalweighted)
As an altemative tofinding a regularsummer job or even going back to School and
Li decided to develop her
taking an introductory accounting course, Songlan
entrepreneurial talenisby accepting an oppodunity to lease from the City ofToronto the
tennii court facilitiesnHigh Park Toronto forthe summer of 2009. While the Cify
city,theHigh Park courts are of
operates a number of free courtfacilitiescross the
higher quality (Hartru artificiallay),so amanaged facilityand a courtuse fee was
Songlan was responsible forroutine maintenance (daily raking and watering)
iustined. major repairs ormaintenance. Songlan was
while the City was stillesponsible forany
especially pliased by thisopportunity, because she was enrolled ina certification
progrurnio become a certifiedCanadian Tennis Association Teaching Tennis
yearof courses and examinations to
iroiessional. Although she stillad another
complete her certification,s a registeredstudent she was allowed by the Association to
give lessons at an "apprentice" rate.So in additionto renting outhe courts on an hourly
generate a second source ofrevenue from providing tennisinstruction.
6asis, Songlan di