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General Instruction:: Elmer A. Consing, Mba Midterm Examination

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This document contains instructions and questions for a midterm exam in an economic management course at MMG College of General Santos City. It asks students to answer 10 multiple choice questions about topics like economic growth, mixed economic systems, accounting principles, financial markets, and classifying countries as developed or developing. It also provides a list of accounts and their balances and asks students to arrange them correctly on a statement of financial position for a fictitious company. Students are instructed to submit their exam responses through Google Classroom and include their full name in the subject title.

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General Instruction:: Elmer A. Consing, Mba Midterm Examination

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Rovern Keith Oro Cuenca
52 views2 pages
This document contains instructions and questions for a midterm exam in an economic management course at MMG College of General Santos City. It asks students to answer 10 multiple choice questions about topics like economic growth, mixed economic systems, accounting principles, financial markets, and classifying countries as developed or developing. It also provides a list of accounts and their balances and asks students to arrange them correctly on a statement of financial position for a fictitious company. Students are instructed to submit their exam responses through Google Classroom and include their full name in the subject title.

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This document contains instructions and questions for a midterm exam in an economic management course at MMG College of General Santos City. It asks students to answer 10 multiple choice questions about topics like economic growth, mixed economic systems, accounting principles, financial markets, and classifying countries as developed or developing. It also provides a list of accounts and their balances and asks students to arrange them correctly on a statement of financial position for a fictitious company. Students are instructed to submit their exam responses through Google Classroom and include their full name in the subject title.

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© All Rights Reserved
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52 views2 pages

General Instruction:: Elmer A. Consing, Mba Midterm Examination

Uploaded by

Rovern Keith Oro Cuenca
This document contains instructions and questions for a midterm exam in an economic management course at MMG College of General Santos City. It asks students to answer 10 multiple choice questions about topics like economic growth, mixed economic systems, accounting principles, financial markets, and classifying countries as developed or developing. It also provides a list of accounts and their balances and asks students to arrange them correctly on a statement of financial position for a fictitious company. Students are instructed to submit their exam responses through Google Classroom and include their full name in the subject title.

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MMG College of General Santos City Econ 700 (Economic Management)

ELMER A. CONSING, MBA Midterm Examination

General Instruction: Read the questions carefully. Submit your exam thru google classwork. White
your full name as your subject title. Not following instruction will be deducted to your total score.

Part I.

1. What is Economic Growth? Do you think Philippines has an Economic Growth? Support your answer.
2. How can you relate Planned System to Mixed Economic in terms of application?
3. Explain “Sales are just estimate” based in GAAP principle.
4. How to get Net Margin?
5. Define and discuss Banking Financial Institutions to Non-Banking Financial Institution. Is this related?
6. What are Hedge Funds? Why it belongs to Banking Financial Institution? What its implication?
7. How the Government mobilized its funds through Capital Allocation?
8. What is the product of Economic Development?
9. Do you think where is the Philippines belong? Developed countries or developing countries? Support your
answer.
10. What is the importance why we need to study Financial Markets? It is important? Why?

Part II.
Arrange the following accounts and show its position.

Cheating and Copying Company


Statement of financial Position
As of December 30, 2020

Retained Earnings 297, 560 Prepaid Expense 16,000


Fixed Assets 1,200,000 Cash & Life Insurance 121,000
Finished Goods 35,000 Prepaid Insurance 12,000
Provisions of Bad Debts 13,940 Plant, Property & Equipment 1,350,000
Bonds Payable 650,000 Accounts Payable 1,040,000
Cash 1,050,000 Common Stock 450,000
Accumulated Depreciation 695,000 Other Intangibles 1,000,000
Bank Due 84,000
Allowance for Doubtful Accounts 85,000
Additional Paid in Capital 98,000
Unearned Revenue 46,000
Direct Labor 40,000
Marketable Securities 40,000
Long term Loans 1,320,000
Raw Materials 40,000
Work in Process 46,500
Goodwill 1,020,000
Additional Paid in Treasury Stock 680,000
Notes Payable 881,000
Accounts Receivable 450,000
Current Portion of Long Term Debt 80,000
MMG College of General Santos City Econ 700 (Economic Management)
ELMER A. CONSING, MBA Midterm Examination

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