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BUS 203 Exam Rubric 
BUS 203 Exam Rubric
A cumulative mid term/final exam consisting of selection response, supply response and restricted performance questions.
Rubric Code: X4984B
By comiteavaluo
Ready to use
Public Rubric
Subject: Accounting  
Type: Exam  
Grade Levels: (none)

Powered by iRubric Final Exam
Accounting Principles I Cumulative Final Exam
  Did not achieve

Did not meet minimum requirements.

0 pts

Fair Achievement

Somewhat met requirements and have at least one major mistake.

2 pts

Average Achievement

Met requirements with minor mistakes.

4 pts

Achieved

Fully met requirements.

6 pts

Calculate Ratios

Using the ledger accounts provided on the last page of this exam calculate working capital and the current ratio and assume that the company is in the retail industry.
Did not achieve

Neither ratio calculation was correct or partially correct.
Fair Achievement

Final calculation of ratio was not correct however elements of the calculation were correct.
Average Achievement

One ratio calculation was correct the other was not.
Achieved

Completed both ratio calculations correctly.
Analysis of Ratios

If the industry average for the retail current ratio is 1.5 compare the calculation above by describing and analyzing its relation to the industry average.
Did not achieve

Analysis was incorrect.
Fair Achievement

Analysis somewhat correct and missing a major theme.
Average Achievement

Analysis was correct but missing minor elements.
Achieved

Analysis was correct based on standard analysis practice.
Financial Statement Preparation

Using the ledger accounts provided on the last page of this exam prepare the first three financial statements in proper form.
Did not achieve

Financial Statements do not follow GAAP.
Fair Achievement

Financial statements somewhat follow GAAP and have one or two major mistakes.
Average Achievement

Financial statements follow GAAP with minor mistakes.
Achieved

Financial Statements Fully follow GAAP.
Calculate Gross Profit

Using the ledger accounts provided on the last page of this exam show the calculation for gross profit.
Did not achieve

Calculation and all elements are incorrect.
Fair Achievement

Calcuation is incorrect but some elements are correct.
Average Achievement

Calculation is correct with minor mistakes.
Achieved

Calculation and all elements are fully correct.
Gross Profit DescriptionApplication

Describe the importance of the gross profit number and tell what type of company would primarily use the gross profit number for analysis of operations.
Did not achieve

Description and application are incorrect.
Fair Achievement

Either the description and/or the application are somewhat correct.
Average Achievement

Either the description or the application is correct and the other is incorrect.
Achieved

Description and application are fully correct.
Selection and Supply
The remainder of the exam consists of selected and supply response questions.
  Incorrect

The student failed to select the best answer.

0 pts

Correct

The student selected the best answer.

2 pts

N/A

(N/A)

N/A

(N/A)

Multiple Choice

Students select the best answer to the question.
Incorrect

The student did not select the best of four options.
Correct

The student selected the best of four options.
N/A
N/A
True & False

Students select true if the statement is true and false if it is false.
Incorrect

The student did not select the correct response.
Correct

The student did select the best response.
N/A
N/A
Fill-in-the-Blank

The student fills in the best word that completes the sentence.
Incorrect

The student did not fill in the correct word(s).
Correct

The student did fill in the correct word(s).
N/A
N/A



Keywords:
  • Accounting, Exam

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