FLORIDA NATIONAL COLLEGE End of Program Assessment Program ___________________________ Location__________________________ Student________________________________ Date________________________________...

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FLORIDA NATIONAL COLLEGE

End of Program Assessment
Program ___________________________ Location__________________________

Student________________________________
Date_____________________________
___
Test Administrator______________________________

This end-of-program assessment is "open book." This does not mean that you can just copy from the
book.

You should always try to give your answer in your own words and give "real life" examples to support
your
answer. In cases where it is necessary to copy from another source please cite the source using APA
style. Thank you.
1 BUSINESS LAW 2131 Courses this term:
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Write a short comparison between Chapter 7 and Chapter 13 bankruptcy
Ans- There is two types of bankruptcy, chapter 7 and chapter 13. Chapter 13 is a total
repayment plan whereas chapter 7 is a total liquidation plan. According to chapter 7,
company has to sell out all the assets in order to pay off the creditors whereas chapter 13
relates to consolidation. Chapter 7 cannot help in respect of foreclosure by first mortgage
holder whereas chapter 13 does the opposite. Chapter 7 is a complete debt wipe- out whereas
chapter 13 is not.
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2. ACCOUNTING 2003

Silver Co sold merchandize to Bronze Co. on account, $23,000, terms 2/14, net 45. The cost
of the merchandize sold is $18,500. Silver Co. issued a credit memorandum for $2,599 for
merchandize returned that originally cost $1,900. The Bronze Co. paid the invoice within the
discount period. What is the amount of net income earned by Silver Co. on the above
transaction
Sold merchandise to Bronze Co. 23000.00
Less: sales return 2599.00
20401.00
Less: discount availed @ 2% 408.02
19992.80
Less; cost ( 18500-1900) 16600.00
Net Income Earned 3992.80
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MANAGEMENT 2200
List and describe five roles managers play in carrying out their management functions.
Answer- Managers play an integral role in the management functions which includes:
 Managers play the role of MONITORING the management in a cordial manner
which can help the manager to seek and receive information and maintain personal
contacts with the stakeholder
 . Manager also play an Interpersonal role by acting as LEADER which can help him
to motivate and direct the subordinates as well as fill any communication gap between
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the two levels of management.
 Managers also play a decisional role by acting as a RESOURCE ALLOCATOR and
decide about the allocation of resources and prepare budgets and...