Exam (elaborations)
WGU D196 Pre Assessment 2023 Questions and Answers | 100% Verified Answers
- Course
- Institution
WGU D196 Pre Assessment 2023 Questions and Answers | 100% Verified Answers
[Show more]
Content preview
WGU D196 Pre Assessment 2023 Questions andAnswers 1.What is an example of direct materials?
Cost of robotic equipment in making automobiles Cost of sandpaper in making wood furniture
Cost of saws and hammers in constructing a house
Cost of aluminum in making an airplane ANS Cost of aluminum in making an airplane
2.What is the effect of a company's accounting department maintaining high ethical standards?
The company can hire fewer accountants to do the same amount of work. The company can report more favorable results in its financial statements. The company's accounting information will increase in value.
The company's accounting information will decrease in value. ANS The compa- ny's accounting information will increase in value.
3.Why might employees be interested in their company's financial account- ing information?
Financial statement data are used to record long term liabilities.
Financial statement data are often used in determining employee bonuses. Financial statement data provide item-by-item product cost information.
Financial statement data provide detailed internal budget information. ANS Fi- nancial statement data are often used in determining employee bonuses.
4.Which group establishes financial accounting rules in the United States? Internal Revenue Service (IRS)
Financial Accounting Standards Board (FASB) International Accounting Standards Board (IASB)
American Institute of Certified Public Accountants (AICPA) ANS Financial Ac- counting Standards Board (FASB)
5.Which report is one of the three primary financial statements? Statement of management accounting
Statement of the accounting cycle Statement of stakeholder funds
Statement of cash flows ANS Statement of cash flows
6.A company paid $5,000 cash in advertising costs.
How does this transaction affect the paying company's accounting equa- tion?
Assets decrease by $5,000; liabilities increase by $5,000. Assets increase by $5,000; expenses increase by $5,000.
Assets decrease by $5,000; expenses increase by
$5,000.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Toian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now