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WGU C213 EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$17.99
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WGU C213 EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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Course
WGU C213
Institution
WGU C213
WGU C213 EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
WGU C213 EXAM 2024 ACTUAL EXAM
2 VERSIONS (VERSION A AND B)
COMPLETE 500 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY
GRADED A+
VERSION A
When a company borrows money from a bank to be
repaid in over time, the effect on the accounting
equation for the company will be to -
....ANSWER...Increase Cash and increase Bank Loan
Payable
When a company purchases equipment on credit, the
effect on the accounting equation will be to -
....ANSWER...increase Equipment and increase a
liability
,When a company pays for a warehouse by paying
cash, the effect on the accounting equation will be to
- ....ANSWER...Increase Buildings and decrease Cash
When a company buys a warehouse by using a
mortgage with a local bank, the effect on the
accounting equation for the company will be to -
....ANSWER...Increase Buildings and increase
Mortgage Payable
When an investor pays cash into a business to
become a part owner, the effect on the accounting
equation for the business will be to -
....ANSWER...Increase Cash and increase Paid-in
Capital
A company's asset mix is determined by -
....ANSWER...Dividing each asset item on the balance
sheet by total assets
A company's asset mix is strongly influence by -
....ANSWER...The company's industry
,Financing mix is a measure of - ....ANSWER...The
degree to which a company finances assets using
liabilities or owners' equity
Gross profit is the difference between -
....ANSWER...Sales and Cost of Goods Sold
The concept that income is defined as the excess of
net assets at the end of an accounting period over
the net assets at the beginning of the accounting
period, excluding effect of transactions with owners
is called - ....ANSWER...financial capital maintenance
The proper order on an income statement for the
various measures of income is - ....ANSWER...gross
profit, operating income, income from continuing
operations, net income, comprehensive income
A measure of a company's performance that
includes all items that are expected to continue into
the future is - ....ANSWER...Income from Continuing
Operations
Operating Income is equal to - ....ANSWER...Income
from Continuing Operations plus Income Tax
, Expense and Interest Expense plus/minus other
miscellaneous revenues, expenses, gains, and
losses
The number used to reflect an overall measure of
the change in a company's wealth during the period
is - ....ANSWER...Comprehensive Income
When a company determines to get out of a specific
line of business - ....ANSWER...Revenues and
expenses from that line of business are excluded
from the company's recurring revenues and
expenses when preparing an income statement.
For a gain or loss to be classified as extraordinary, it
must be - ....ANSWER...both unusual and infrequent
When revenue and expense items are arranged to
highlight important profit relationships, the resulting
income statement format is called a -
....ANSWER...multiple-step income statement
With a single-step income statement all revenues
are grouped together, all expenses are grouped
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