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Midterm Exam .pdf

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Administrative Studies
ADMS 2500
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York University AP/Adms 2500.03 Introduction to Financial Accounting Midterm Examination #I Test Form A - Time: 2.0 hours Summer 2009 Questions: 20 Instructions: l. Submit: Only thepink mark sense sheetwill be collected:you may keep thismidterm laterreference. 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 number BLANK 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 recognized. 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' pass along . 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. on the 4.Exam Strategy . 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 It 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 appropriate 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 minutes. 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 exam. 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 university 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 ofpaper. 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- mark impact. . 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
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