Special Topics In MGT
[ Georgia Institute of Technology}
Exam 1 Financial Accounting – MGT 8803
Business Fundamentals for Analytics
1/33
,Instructions
NOTE: Students are NOT allowed to copy or screen print questions/problems on this exam. You
will be allowed an opportunity to review your exam after the exam period has closed.
.
Exam 1 covers the Financial Accounting module. "Theory" questions are either Multiple Choice,
Matching, or True/False. Questions that require calculations to solve are also multiple choice with five
potential answers provided. There will be no credit for "work" or partially correct answers. Answers were
determined using Microsoft Excel and an online calculator. There may be very minor differences
between your answer and the correct answer listed in the choice options simply due to differences in
rounding or truncation. Pick the answer that closest approximates your answer if there is not an exact
match. Unless otherwise noted (for an example a problem where the solution is a percentage) round
numeric answers to the nearest whole integer. For solutions that are percentages round to the nearest
1/100th of a percent (.00%).
The exam does not start until you have concluded the proctoring initialization process. Once the exam is
visible, you will have exactly 195 minutes to complete it. This process cannot be "paused" so please
remember that once you start, 195 minutes later the exam will automatically close and no further entries
will be permitted. Once you begin scrolling through the exam, the exam timer will no longer be visible
without scrolling back to the top of the page. For this reason, it is suggested that you keep a clock or
timer nearby and keep a close eye on it. It is your responsibility to ensure that you submit your exam
before time runs out.
Given the length of the exam you are allowed up to two 5-minute bathroom breaks and are allowed to
have food and drinks (on camera while taking the exam). However once the timer begins on the exam it
does not stop, even when you are on bathroom breaks.
Maximum Points That Can Be Earned Is 107 Points
2/33
,This quiz was locked Feb 1 at 2:59am.
Attempt History
Attempt Time Score Regraded
LATEST Attempt 1 119 minutes 95 out of 107 97 out of 107
Correct answers are no longer available.
Score for this quiz: 97 out of 107
Submitted Jan 31 at 10:11pm
This attempt took 119 minutes.
3/33
, Financial Accounting Formulas:
The Accounting Equation: Assets = Liabilities + Owners
Equity
Retained Earnings: Beginning Retained Earnings + Net
Income - Dividends Declared = Ending Retained Earnings
Stockholders Equity: Ending Stockholders Equity = Ending
Common Stock + Ending Retained Earnings - Treasury Stock
FIFO: First In First Out Calculation
LIFO: Last In First Out Calculation
Goodwill: Amount Paid for Acquired Firm - Fair Value of
Acquired Firm
Ratios:
EPS: Net Income/# of shares outstanding
Diluted EPS: Net Income/# of diluted shares outstanding
Profit Margin: Net Income/Net sales
Gross Margin %: gross profit (or gross margin)/net revenues
Asset Turnover: Net Revenues/Average Assets (Note if
insufficient data exist to determine average assets, use total
assets)
Debt to Equity Ratio: Total Debt/Total Equity
Current Ratio: Current Assets/Current Liabilities
4/33
[ Georgia Institute of Technology}
Exam 1 Financial Accounting – MGT 8803
Business Fundamentals for Analytics
1/33
,Instructions
NOTE: Students are NOT allowed to copy or screen print questions/problems on this exam. You
will be allowed an opportunity to review your exam after the exam period has closed.
.
Exam 1 covers the Financial Accounting module. "Theory" questions are either Multiple Choice,
Matching, or True/False. Questions that require calculations to solve are also multiple choice with five
potential answers provided. There will be no credit for "work" or partially correct answers. Answers were
determined using Microsoft Excel and an online calculator. There may be very minor differences
between your answer and the correct answer listed in the choice options simply due to differences in
rounding or truncation. Pick the answer that closest approximates your answer if there is not an exact
match. Unless otherwise noted (for an example a problem where the solution is a percentage) round
numeric answers to the nearest whole integer. For solutions that are percentages round to the nearest
1/100th of a percent (.00%).
The exam does not start until you have concluded the proctoring initialization process. Once the exam is
visible, you will have exactly 195 minutes to complete it. This process cannot be "paused" so please
remember that once you start, 195 minutes later the exam will automatically close and no further entries
will be permitted. Once you begin scrolling through the exam, the exam timer will no longer be visible
without scrolling back to the top of the page. For this reason, it is suggested that you keep a clock or
timer nearby and keep a close eye on it. It is your responsibility to ensure that you submit your exam
before time runs out.
Given the length of the exam you are allowed up to two 5-minute bathroom breaks and are allowed to
have food and drinks (on camera while taking the exam). However once the timer begins on the exam it
does not stop, even when you are on bathroom breaks.
Maximum Points That Can Be Earned Is 107 Points
2/33
,This quiz was locked Feb 1 at 2:59am.
Attempt History
Attempt Time Score Regraded
LATEST Attempt 1 119 minutes 95 out of 107 97 out of 107
Correct answers are no longer available.
Score for this quiz: 97 out of 107
Submitted Jan 31 at 10:11pm
This attempt took 119 minutes.
3/33
, Financial Accounting Formulas:
The Accounting Equation: Assets = Liabilities + Owners
Equity
Retained Earnings: Beginning Retained Earnings + Net
Income - Dividends Declared = Ending Retained Earnings
Stockholders Equity: Ending Stockholders Equity = Ending
Common Stock + Ending Retained Earnings - Treasury Stock
FIFO: First In First Out Calculation
LIFO: Last In First Out Calculation
Goodwill: Amount Paid for Acquired Firm - Fair Value of
Acquired Firm
Ratios:
EPS: Net Income/# of shares outstanding
Diluted EPS: Net Income/# of diluted shares outstanding
Profit Margin: Net Income/Net sales
Gross Margin %: gross profit (or gross margin)/net revenues
Asset Turnover: Net Revenues/Average Assets (Note if
insufficient data exist to determine average assets, use total
assets)
Debt to Equity Ratio: Total Debt/Total Equity
Current Ratio: Current Assets/Current Liabilities
4/33
