ADM 2342 Study Guide - Midterm Guide: Current Liability, Promissory Note, Accounts Payable

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*read carefully* average of 1. 8 minutes per mark: follow instructions carefully for each question, show all supporting calculations clearly where required. Answers will not be marked if they are written illegibly: this exam comprises xx pages, is 3 hours long, and is out of 100 marks. Allow an: non-programmable calculators are permitted, but you cannot share calculators, books and notes are not permitted, please do not ask the professor or the invigilator to explain or interpret questions. State any assumptions you feel are necessary: there is one page at the back of this exam for additional space, if required. Circle the best answer for each of the following multiple-choice questions directly onto your examination sheet. Only one answer will be accepted for each question. No account will be taken of any explanations provided. Questions 1 to 20 are each worth one mark. There is reasonable assurance that recorded revenues and expenses will ultimately be received or paid.