ACTG 1P91 Study Guide - Midterm Guide: Academic Dishonesty, Accrual, Profit Margin
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ACTG 1P91 Full Course Notes
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Section number___________________________ (user id is the first part of your brock email address) Instructions: confirm that you have 11 consecutively numbered pages (excluding this cover page), assume that the accrual basis of accounting and canadian generally accepted accounting principles, have only pencils and calculator available at your seat. Keep your eyes on your own work and prevent others from seeing your test responses: read questions and instructions carefully. Multiple choice questions (1 point each; 10 points total). Almost all of the multiple choice questions are original questions at the end of the chapters unless they are based on class discussions. Costco and sam"s club are two companies that offer low prices for items packaged in bulk. This strategy increase total sales volume, but generates less profit for each dollar of sales. Guessco corporation reported the following amounts on its income statement: operating expenses, ,500; interest expense, ,000; net income, ,100; income tax expense, ,400; and operating income, ,500.
