D074 Principles of Accounting WGU BUNDLED EXAMS 2023 WITH 100% CORRECT ANSWERS

Actual Manufacturing Overhead Manufacturing costs other than direct materials and direct labor. Break Even To make just enough income to cover costs without any profit or loss. Budget A quantitative expression of a plan that shows how a firm or organization will acquire and use reso...

Analysis One of the three basic functions of accounting that involves looking at business events to determine if information should be captured by the accounting system. Bookkeeping One of the three basic functions of accounting that involves keeping track of the day-to-day transactions. ...

differential costs Future costs that change as a result of a decision; also called incremental or relevant costs. Accounting A system for providing quantitative information, usually financial in nature, about economic entities that is intended to be useful in making economic decisions, ...

In which way is accounting different from finance? -Accounting is backward looking, while finance is focused on the future. -Accounting is about budgeting, saving, and borrowing, while finance is about investing, forecasting, and lending. -Accounting is focused on allocating capital, while financ...