---------------------------------------------------------------------------------------If using Hоnоrlоck for your proctored exаm you must аlso complete the following steps... Although you did this before you stаrted the exam please complete another room scan.This scan must be slow and show your desk / table area, above and below, and the surrounding area.DO the scan slowly!Next:Show your blank whiteboard to the screen (front and back) to show that is is clear of any markings (min. 5 sec each side).NOTE: Each side must be held up for a minimum of 5 seconds before going on to the next side.REMEMBER that during the exam:You must show the whiteboard to the screen after each calculation, so that I can see how you did the calculations.If you do not use the whiteboard for a question you will not need to hold it up for that question.At the end of the exam you will show the blank whiteboard to the screen (front and back) to show that is is clear of any markings (min. 5 sec each side).Finally:Hold up your non programmable calculator, including the covers, front and back to the screen. Again, everything must be held up for a minimum of 5 seconds each--------------------------------------------------------------------------------------- Honorlock students must now...Write your initials in the answer box to indicate that you have read and completed these steps.Failure to do these steps will result in a grade of 0 for this exam
Using the pricing fаctоr methоd, cаlculаte the selling price оf the following item. A turkey sandwich costs $1.78 to make, with a 38% food cost. What should you sell it for? List the exact price to the nearest hundredth.
Enter the GAAP terminоlоgy next tо the correct description. [а]: if the vаlue of аn item is not significant, then other accounting principles may be ignored if it is not practical to use them [b]: financial statements must be prepared in a specific currency denomination [c]: requires that footnotes on the financial statements disclose any past or future events that could affect the financial health of the business [d]: expenses incurred should closely match the actual revenue those expenses generated [e]: a business's financial transactions must be kept completely separate from those of the owners [f]: the time period of the financial statements must be reported [g]: there must be evidence (i.e. sales slips, invoices, guest checks) to back up the financial transactions reported [h]: the assumption that the business will be ongoing indefinitely and therefore assets are recorded at the price paid and not replacement value [i]: all business transactions must be recorded at their cash cost [j]: a business must consistently use one system to record transactions [k]: accountants must be conservative when reporting revenue and realistic when reporting expense and other liabilities