This practice quiz is provided to give you practice under exam conditions. Please use this quiz if you are having trouble completing the exams within the time allowed.

Below are your instructions for the exam. Please review them and ask any questions before the exam.

Instructions

The exam will be available for you to take any time between Monday, October 31 at 12:01 a.m. (Central) to Sunday, November 6 at 11:59 p.m. (Central).

You have 1 hour and 30 minutes (90 minutes) to complete the exam. Use your time wisely. Please review the Answer Formatting section below for suggestions on saving time during your exam.

- Please keep in mind that once you access the exam, the clock starts ticking. After you click "submit quiz", you will not be able to re-enter the exam.
- The Access Code for this exam is: FAEX322R

Exam Format

This is a closed-book exam. You may only have handwritten notes on the front and back of one 4-inch by 6-inch notecard. No outside assistance of any kind is allowed.

Respondus Lockdown Browser is required to take this exam. Please be sure you have it installed on the computer on which you will take the exam.

- This article from OU IT has instructions for installation and user assistance: Respondus LockDown Browser.

Exam Content

The exam consists of nine (9) questions, some of which have multiple parts. Point allocations (out of 100) are indicated next to each question.

For all exam questions, you should assume the following:

- Assume all firms are using the Successful Efforts Method of accounting.
- All companies distinguish between IDC and L&WE for financial as well as tax purposes.
- All firms have calendar fiscal years (i.e., end on 12/31).

Answer Formatting

- To save time during your exam you can provide only the answer in the Canvas Quiz/Exam and show your work on the handwritten workpaper that you submit separately.
- If a question asks you to calculate a specific number, please be sure to clearly mark your final answer by highlighting it.
- Round monetary answers to the nearest whole dollar as necessary.
- All information needed to answer each question correctly should be provided within the questions. However, if you feel it is necessary to make additional assumptions to complete a problem, be sure to state those clearly as part of your answer.

Academic Integrity

- Getting help from your peers on the assignment is not permitted.
- Collaborating, or completing the assignment with others in the class, is not permitted.
- Copying or reusing previous work is not permitted.
- Open-book research for the assignment is not permitted.

By continuing with this exam you affirm that you will neither give nor receive inappropriate aid in the completion of this exam, nor will you share information about this exam with students who have not yet taken it. You acknowledge that the penalty for giving or receiving assistance on this exam will result, at a minimum, a failing grade on the exam and possibly this course.