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Page 1 of 9 Name: __________________________ Date: _____________ You must complete both Part 1 (Wiley Plus) & Part 2 of Quiz 2 20 Questions: 12 MC Questions; 7 Problems; 1 essay Ch 5 – 6 -7 … Timed Exam: 3 hours UMUC – ACCT 220 Due April 24, 2013 This exam is to be completed without the assistance of any other person. You may use only the resources provided by your instructor for this class. ** Save this file and include your name in the file name: Steve_Harvey_Quiz_2 You may create an Excel and /or Word File for your work. Please verify that each page prints out formatted with your name and page number on the page. Excel files should show gridlines. Excel ‘page format’ has options for grid lines (sheet) and headers/footers. At a minimum, use print preview so you can see how the work will print out. I pledge on my honor that I have not given or received any unauthorized assistance on this examination. In addition, I pledge that I will not disclose to, or discuss the contents of this examination with, students who have not taken it. _________________________________________________________________________ Signed 12 MC (place answer on the line); 1 essays , 7 problem presentation questions (may require JEs or financial statement presentations) NOTE: some problems have several ‘calculation’ presentations or tasks 100 total points; 100 points = 100% For all questions, assume no other transactions or activities have taken place during the period except as noted Page 2 of 9 Prepare and present calculations for partial credits for questions with calculations and presentations. Name: __________________________ Date: _____________ 1. The IASB and FASB are working on a converged statement of financial position using the headings of A) assets, liabilities, and owner’s equity. Answer: ________ B) revenues and expenses. C) assets, liabilities, revenues, expenses and owner’s equity. D) operating, investing, and financing. 2. The only acceptable cost flow assumptions under IFRS…