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Date Submitted: 10/12/2014 04:28 PM
Course | Adv Accounting I |
Test | Final Exam Part 1 |
Started | 9/13/14 9:55 PM |
Submitted | 9/13/14 11:10 PM |
Status | Completed |
Attempt Score | 232 out of 240 points |
Time Elapsed | 1 hour, 15 minutes out of 2 hours. |
Instructions | This exam consist of 30 multiple choice questions and covers the material in Chapters 1 through 8. |
* Question 1
8 out of 8 points
| |
| The defense tactic that involves purchasing shares held by the would-be acquiring company at a price substantially in excess of their fair value is calledAnswer | | | |
| Selected Answer: | greenmail. |
Correct Answer: | greenmail. |
| | | |
* Question 2
8 out of 8 points
| |
| When a new corporation is formed to acquire two or more other corporations and the acquired corporations cease to exist as separate legal entities, the result is a statutoryAnswer | | | |
| Selected Answer: | consolidation. |
Correct Answer: | consolidation. |
| | | |
* Question 3
8 out of 8 points
| |
| The view that consolidated financial statements represent those of a single economic entity with several classes of stockholder interest is consistent with theAnswer | | | |
| Selected Answer: | economic unit concept. |
Correct Answer: | economic unit concept. |
| | | |
* Question 4
8 out of 8 points
| |
| Estimated goodwill is determined by computing the present value of theAnswer | | | |
| Selected Answer: | excess earnings. |
Correct Answer: | excess earnings. |
| | | |
* Question 5
8 out of 8 points
| |
| In a leveraged buyout, the portion of the net assets of the new corporation provided by the management group is recorded atAnswer | | | |
| Selected Answer: | book value. |
Correct Answer: | book value. |
| | | |
* Question 6
8 out of 8 points
| |
| In a period in which an impairment loss occurs, SFAS No. 142 requires each of the following...