Accounting I (2 º Sem 2019/2020)

Dear Students,

We have our Quiz #4 in the second practical class of this week. The quiz is to be solved in 20 minutes.

The quiz will be administered at the beginning of the Practical Class and afterwards we will have class where we will solve Case 24.

The topics to be assessed on Quiz #4 are the following:

• Theoretical Classes 8 to 10
• Practical Classes Cases 18 to 22; Autonomous Work Cases Q to U.

The Quiz instructions are the following:

QUIZ NO. 4

SECOND PRACTICAL CLASS OF THE WEEK

• The quiz is accessible through a link that will be made available to you on Teams “Accounting I” Practical Class usual group, at the beginning of the Practical Class.
• The time for solving the quiz is 20 minutes counting from the moment the link is made available. In case you have difficulty accessing the link you should keep trying until it opens.
• In case you “arrive late” to the quiz you will have less time to answer the questions (no compensation time will be given).
• You will be asked to authenticate yourselves, therefore, you will need your ISEG credentials: E-mail and Password (the same you already use for Teams). Only responses sent from your ISEG account will be accepted.
• The moment you enter the quiz you should choose the language on top (Portuguese/English). Please select English.
• The QUIZ has 8 questions, 4 questions are multiple choice questions and 4 are “open answer” questions that involve recordings in the journal or calculations in the space provided.
• Example of a calculation question: “Consider VAT liquidated account has a credit balance of 120.000, the VAT deductible account a debit balance of 100.000 and the VAT regularizations account a debit balance of 5.000. What is the amount of VAT to be paid or to recover?” You should present an answer in the available space, like: “120.000 - 100.000 - 5.000 = 15.000 (VAT to be paid)”.
• Example of a journal recording question: “Record in the journal the purchase of inventories, on account, in the amount of 1,000€. The company uses the Perpetual Inventory System”.  You should present an answer in the available space, like: “31 - Purchases of Inventories (D) 1,000; 22 - Trade Accounts Payable (C) 1,000; 32 - Inventories (D) 1,000; 31 - Purchases of Inventories (C) 1,000”. There is no need to present the calculation of the amounts.
• The points attributed to each question will be indicated on the question.
• In case no answer is given to the question you get zero points on the question.
• In case you provide an incorrect answer to a multiple choice question it deducts ¼ of the points of the question.
• “Open answer” questions will be graded between zero and the total points attributed to the question.
• Be careful with the following: the moment you select an option, it’s no longer possible to leave the question unanswered (blank). It is possible, though, to change the option.
• The questions appear all at once and you will be able to visualize the list of the 8 questions. There will be no “back” or “next” buttons.
• At the end of the list of questions you find the “submit” button. You should only click on submit when you have finished the quiz and are sure you want to submit.
• After you submit the quiz it is no longer possible to re-do the quiz, or go back to the quiz, since the system only accepts one response per username.
• The quiz ends 20 minutes after it started, so it is important for you to keep track of time. The Professor will use a timer to control the time.
• The Professor will give you three warnings before disabling the Quiz, the first warning being 2 minutes before the end, the second warning being 1 minute before the end and the last warning by the time the quiz ends. Therefore, you should have Teams’ sound ON while doing the quiz (and your microphone turned off to avoid disturbing other students). In case you need to communicate with the Professor use the chat so as not to disturb your colleagues.
• In case you try to submit the quiz after the last warning, you get the following message: ”This form is closed”.
• Not submitting the QUIZ means your quiz will be graded zero.

Study well and GOOD LUCK!

Florence Pinto Basto