ACG 2021, Introduction to Financial Accounting, Spring 2001, Exam 3 Final :: UFL Florida Business Accounting

2021FINALSP01 5/9/2001 FORM CODE: A Page 1 ACG 2021 – FINAL EXAM SPRING 2001 NAME _____________________________________ SS# ____________________________ Instructions: NOW: Bubble in your section number on your Scan Sheet. Fill in your name and social security number on this examination and your scan sheet. 1. Listen carefully for any comments your proctor may have related to the exam. Read these instructions carefully. Failure to do so may result in your losing points. 2. This exam consists of 60 multiple-choice questions. Select the BEST answer and mark the appropriate space on the scan sheet with a #2 pencil only. You MUST keep your scan sheet face down on the desk when you are not filling it in. 3. You may use ONLY a non-programmable calculator during the exam. Use of any other calculator will be considered a violation of the honor code. Your exam will be taken from you and you will receive a grade of 0. 4. At the end of 2 hours, you will be told to stop. Put your pencils down IMMEDIATELY. Failure to do so will result in your receiving a zero for the exam. 5. The exam consists of 16 pages, including this cover, present value tables and a blank page at the end. Make sure you have all pages and all questions. 6. Have your University of Florida Identification card ready to be checked when you turn in your exam. 7. Assume the accounting entities use a calendar year unless otherwise noted. 8. Unless otherwise specified, assume a 360-day year. 9. When you are finished, turn in your scan sheet, as well as your exam. Answers will be posted on the web after the exams are handed back in class. 10. The University of Florida policy on academic honesty will be strictly enforced. When you are told to open your exam, turn to the first page and find your exam form code. Immediately bubble this in on your scantron. 2021FINALSP01 5/9/2001 FORM CODE: A Page 2 1. Which of the following is usually NOT considered to be a long-term liability? A) Bonds payable. B) Mortgages payable. C) Accrued post-retirement benefits. D) FICA taxes payable. E) None of the above is correct. 2. The effect on total assets of the purchase of supplies for cash is A) an increase in total assets B) a decrease in total assets C) total assets remain unchanged D) an increase in total assets and total liabilities E) an increase in total assets and current ratio 3. Which of the following is not normally a condition that must be met for revenue to be recognized (recorded) under the revenue principle? A) The earnings process is complete or nearly complete

Electronic Medical Records and Safety Essay

The article titled â€Å"Computer Security Expert’s Perspective on Electronic Medical Records† presents the views of an Information Technology (IT) security expert, Troy Thomas, on electronic medical records (EMR). Thomas is the Chief Security and Privacy Officer for KeyCorp which is the parent company of Key Bank. Thomas has a bachelor’s degree in Computer Information Sciences from Cleveland State University, Cleveland, OH. Thomas asserts that the medical industry is slowly becoming computerized and, eventually, electronic medical records will be the norm. He points out that, however, getting from a highly distributed, paper-based model to a fully computerized EMRs model will be challenging. Changing to a more computerized EMRs model will introduce risks that the current paper-based model does not have and will solve some of the inherent risks associated with the current model. The current paper-based model inherently has the following risks: records are susceptible to fire, flood, mold, termites, decay, fading of ink, and misplacement of an entire folder or subsections. Paper records are easily copied or stolen, easily accessed by office personnel or people who just happen to be near an unattended folder of medical records. An EMRs model inherently has the following risks: computer equipment can fail or break, technology changes quickly, and information stored a long time ago may not be easily accessed at a future date. Information that was once stored can become inaccessible; information can be accessed by unauthorized individuals. Electronic information can be altered. Electronic components do not react well to fire, water, dust, dirt, humidity, being dropped, or being abruptly unplugged. To mitigate these inherent risks, modern computer centers have strict environmental controls to ensure that computer equipment is run in an optimal environment and is backed up and available at an alternative site (for disaster recovery purposes) and has proper security controls deployed to ensure that information can be accessed by authorized personnel only. Technology controls exist that can prohibit information from  being altered. For example, there are direct access storage devices that allow information to be written once and read many times. The inherent risks of the paper-based model and the EMRs model are vastly different but mitigating controls exist that can adequately address the basic inherent risks described thus far. Typical, practicing physicians, however, cannot be expected to set up a dedicated computer center with all of the environmental, phy sical, and logical access controls that are needed to adequately safeguard their patient records. Therefore, for true EMRs to be really secure, a model or protocol is needed whereby physicians store their patients’ medical records at a reputable and secure data center that offers the physicians an outsourced service for accessing and storing EMRs. Unfortunately, a centralized computing model introduces new inherent risks: for example, are the outsource agencies reputable and can they be trusted with patient medical record information? With medical record information coming in from multiple physicians, a unique patient identification number would be needed so that records could be appropriately combined within patient files. With so much information in one place, clear controls would be needed to ensure that the people accessing the information receive only the information that is truly needed. Ensuring that quality information is captured and maintaining patient privacy will be the most challenging aspects of EMRs. Computers don’t improve quality. However, computers can make quality issues and mistakes much more visible and potentially harmful. The author highlighted that the EMRs journey will probably parallel some of the issues that exist with electronic voting where so many questions such as whether society can trust the vendors who sell the voting equipment. Can a vote be altered after it has been cast? How does society effectively centralize a highly decentralized model? Can foreign governments hack American voting equipment and influence an election? How is a person’s voting history stored and secured? In the end, EMRs will be a reality in the healthcare industry. The benefits of centralized electronic patient medical records outweigh the risks associated with changing the model. Ultimately, it is a question of trust, not technology. Will physicians trust their patients to stay with them when their patient medical records are more easily transferred to another doctor? Will patients trust that their medical records are appropriately safeguarded against inappropriate access and that the information contained within their records is accurate and of high quality? Ultimately, Thomas believes the answer to these questions is yes in the long run.

The lessons we should learn from the battle of Uhud

The lessons we should learn from the battle of Uhud The battle of Uhud has great significance in the history of Muslims. This war was fought in the guidance of Prophet Muhammad (pbuh) where Meccans attacked the forces of Muslims in Madinah. This battle was fought on 3rd Shawwal 3 AH according to Islamic calendar. The Quraish’s perspective to fight this war was to take revenge from Muslims for the defeat of battle of Badr which they thought they could win because of the strength of their army. But they had to face the defeat that they could not accept. When the battle of Uhud started, the Muslims were in a very strong position but due to existence of a hypocrite group on Muslim’s side, confusions took place and Muslims lost the battle and†¦show more content†¦The battle of Uhud gives multiple lessons to the true believers of Islam. The lesson one can get from this battle is that the Muslims should fight willingly for the greatest cause of Allah even if they are defeated. They should always be prepared to lay thei r lives for the cause of Allah and believe that whenever the Almighty Allah wishes, can take their lives back. Hanzalah is the example of true believer whose wife Jamila dreamt on the night of marriage that his husband would be martyred in the battle, but without getting reluctant next morning, Hanzalah left for battle and was martyred. It shows the courage and faith of the Muslims that is a lesson for the generations to come. Another lesson that battle of Uhud gives is that Allah wants to test His people if they are ready for His service in both good and bad times. One can only be the true servant of Allah when he shows complete obedience whether he likes or dislikes something but accepts it for Allah’s will. Battle of Uhud gives a lesson that Allah is very gracious to His people. He wants His believers in paradise for which he does not only test them by their deeds but gives those difficult and hard times so that their belief and faith can be tested. After succeeding through such hard times, believers will get their places in Jannah according to the promise made by Almighty. This battle tells that whatever the Muslims have lost in the war after being defeated, they will get their rewards in