Terry College Application Exams
Terry Accounting Exam
Beginning September 8, 2022, students will be limited to a total of three Accounting Test attempts.
Students must be enrolled at UGA and applying to a Terry College major or minor.
This examination is one factor considered in a student’s application for either the Accounting major or the Finance Major in the Terry College of Business. All students wishing to major in Accounting or Finance in the Terry College of Business are required to take an Entrance Examination.
The test is based on the subject matter covered in a principles-level financial accounting course (equivalent of ACCT 2101 offered at UGA).
The topics covered will include:
1. Financial Statements (Income Statement, Balance Sheet and Statement of Cash Flows).
2. Journalizing transactions, including adjusting and closing entries (for service and merchandising companies).
3. The revenue cycle, including accounting for bad debts.
4. Accounting for Inventory, including the FIFO, LIFO and Average Cost methods.
5. Accounting for Current Liabilities, including Notes Payable and Contingent Liabilities.
6. Accounting for Investments in Property, Plant and Equipment, Natural Resources and Intangible Assets.
7. Accounting for Long-Term Liabilities, including bonds.
8. Accounting for Equity Financing (Stockholder’s Equity)
9. The Statement of Cash Flows (using the Direct and Indirect Methods).
A student who has passed a Principles level Financial Accounting course (the equivalent of ACCT 2101 at UGA), should be able to perform satisfactorily in this test. The examination will consist of 50 multiple-choice questions, covering all of the above-mentioned topics. The test will have numerical problems as well as conceptual questions.
You may download a list of sample questions and their answers. These are meant to give you a general idea of the type of questions you should expect on the Accounting Entrance Examination. The actual questions in your examination will be different (and may test different concepts), and you should not use this Practice Examination as your only study guide. The actual exam will have only 50 questions. You may use a non-programmable financial calculator. You may use blank scratch paper.
If you require accommodations with placement testing due to a disability, please register with the Disability Resource Center, 706-542-8719, prior to scheduling your exam. You must present your accommodations letter prior to starting your test.
Test Availability:
Your score will be displayed immediately upon completion of the exam. Scores are posted to Athena each Tuesday. All scores are automatically submitted to Terry. There is nothing you need to do to send your scores.
Beginning September 8, 2022, students will be limited to a total of three Accounting Test attempts. You may only take this test once every 7 days.
Test Length:
3 hours
Price:
$45
E-Proficiency Profile (EPP)
Beginning September 8, 2022, students will be limited to a total of three EPP attempts.
Students must be enrolled at UGA and applying to a Terry College major or minor.
This is a test of undergraduate reading, writing, critical thinking and math skills. If students believe their ACT/SAT scores do not represent their current performance level, they have the option of also submitting a score from the E-Proficiency Profile for consideration as part of their Terry major application.
This exam is a computer based exam that consists of 36 multiple-choice questions and has a 40-minute time limit. A four-function, non-graphing, or scientific calculator is permitted on the math portion of the exam but each student must bring their own calculator.
Price:
$53.50
Test Length:
40 minutes but please allow approximately 60 minutes for testing.
Results:
Your score will be displayed immediately upon completion of the exam. All EPP Scores are automatically submitted to Terry. There is nothing you need to do to send your scores. All scores are reported to Terry, it is not an option to not report some scores.
Further Information:
Terry College of Business website
EPP