Acct 302 - Study guides, Class notes & Summaries
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ACCT 302 Key PASSED Exam Questions and CORRECT Answers
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Q 20.1: Which of the following explains the difference between a contributory pension plan 
and a noncontributory pension plan? 
A : In contributory plans, employees bear part of the cost of stated benefits or voluntarily 
make payments to the plan, whereas the costs of noncontributory plans are borne by the 
employER. 
B : In a contributory plan contributions are made, but in a noncontributory plan no 
contributions are made. 
C : In contributory plans, employers bear part of the cost of ...
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ACCT 302 EXAM 1 WITH READY SOLVED QUESTIONS WITH INDEPTH EXPLANATIONS
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ACCT 302 EXAM 1 WITH READY SOLVED QUESTIONS WITH INDEPTH EXPLANATIONS
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ACCT 302 UPDATED Exam Questions and CORRECT Answers
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Objectives of Management Control1. Motivate managers to exert a high level of effort 
to achieve the goals set by top management 
2. Provide the right incentives for managers to make decisions with the goals set by top 
management (align managers efforts with strategic goals) 
3. Determine fair rewards to be earned by managers for their efforts and skill and the 
effectiveness of their decision making 
Employment contractbetween manager and top manager 
promotes goal congruence 
compensatio...
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ACCT 302 EXAM 1 WITH READY SOLVED QUESTIONS WITH INDEPTH EXPLANATIONS
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ACCT 302 EXAM 1 WITH READY SOLVED 
QUESTIONS WITH INDEPTH EXPLANATIONS
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ACCT 302 Certification Exam Questions and CORRECT Answers
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Bill owns and operates a farm machinery dealership. Under the code, a new tractor that Bill 
uses on his farm is classified as equipment 
Which of the following is true? A security agreement may create or provide interest in 
property that the debtor presently does not own or have rights to 
"Attachment" occurs when a secured party gives value, the debtor has acquired rights in the 
collateral, and the debtor and secured party have an agreement 
When mark bought new office furniture on cred...
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ACCT 3021 Chapter 17 100% SOLUTION TEST REVISED 2023//2024
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ACCT 3021 Chapter 17 
100% SOLUTION TEST 
REVISED 2023//2024 
21. Which of the following is not a debt security? 
a. Convertible bonds 
b. Commercial paper 
c. Loans receivable 
d. All of these are debt securities. - ANSWER C 
22. A correct valuation is 
a. available-for-sale at amortized cost. 
b. held-to-maturity at amortized cost. 
c. held-to-maturity at fair value. 
d. none of these. - ANSWER B 
23. Securities which could be classified as held-to-maturity are 
a. redeemable preferr...
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ACCT 3021 Chapter 17 100% SOLUTION TEST REVISED 2023//2024
- Exam (elaborations) • 8 pages • 2023
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ACCT 3021 Chapter 17 
100% SOLUTION TEST 
REVISED 2023//2024 
21. Which of the following is not a debt security? 
a. Convertible bonds 
b. Commercial paper 
c. Loans receivable 
d. All of these are debt securities. - ANSWER C 
22. A correct valuation is 
a. available-for-sale at amortized cost. 
b. held-to-maturity at amortized cost. 
c. held-to-maturity at fair value. 
d. none of these. - ANSWER B 
23. Securities which could be classified as held-to-maturity are 
a. redeemable preferr...
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ACCT 3021 Chapter 17 100% SOLUTION TEST REVISED 2023//2024
- Exam (elaborations) • 8 pages • 2024
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ACCT 3021 Chapter 17 
100% SOLUTION TEST 
REVISED 2023//2024 
21. Which of the following is not a debt security? 
a. Convertible bonds 
b. Commercial paper 
c. Loans receivable 
d. All of these are debt securities. - ANSWER C 
22. A correct valuation is 
a. available-for-sale at amortized cost. 
b. held-to-maturity at amortized cost. 
c. held-to-maturity at fair value. 
d. none of these. - ANSWER B 
23. Securities which could be classified as held-to-maturity are 
a. redeemable preferr...
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Acct/ACCT ASP/ACCT 3021/Acct 301/Acct 2121
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Acct
ACCT ASP
ACCT 3021
Acct 301
Acct 2121
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ACCT 3021 Chapter 17 100% SOLUTION TEST REVISED 2023//2024
- Exam (elaborations) • 8 pages • 2023
- Available in package deal
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- $8.99
- + learn more
21. Which of the following is not a debt security? 
a. Convertible bonds	 r 
b. Commercial pape	 
c. Loans receivable	 	 
d. All of these are debt securities. - ANSWER C 
 
22. A correct valuation is 
a.	available-for-sale at amortized cost. 
b.	held-to-maturity at amortized cost. 
c.	held-to-maturity at fair value. 
d.	none of these. - ANSWER B 
 
23. Securities which could be classified as held-to-maturity are 
a.	redeemable preferred stock. 
b.	warrants. 
c.	municipal ...
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