ADMS 2500 Study Guide - Final Guide: Pencil, Mark Sense, Accounts Payable

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ADMS 2500 Full Course Notes
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ADMS 2500 Full Course Notes
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Instructions: record your name and student number and answer all questions on the computer mark sense sheet provided. The exam questions and booklets will be collected - Failure to comply promptly with the proctors directions for collection will result in a zero grade being recorded for this examination: you are reminded that cheating is a serious offense which can result in expulsion from university. As a result of this error: assets and liabilities would be understated, cash and sales would be overstated, sales and liabilities would be overstated, assets and sales would be understated, none of the above. Use the following information to answer questions 4 and 5: Toasters only company (to) began business on march 1st. On march 5th, to recorded the receipt of 500 toasters, the second shipment it received from its supplier, by debiting inventory and crediting accounts payable ,000.

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