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WGU D102 Pre-Assessment w answer choices (not all questions). $14.99   Add to cart

Exam (elaborations)

WGU D102 Pre-Assessment w answer choices (not all questions).

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  • Course
  • WGU D102 Financial Accounting
  • Institution
  • WGU D102 Financial Accounting

WGU D102 Pre-Assessment w answer choices (not all questions).

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  • August 10, 2024
  • 35
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • WGU D102 Financial Accounting
  • WGU D102 Financial Accounting
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WGU D102 Pre-
Assessment w/
answer choices
(not all
questions)
What information is contained in a balance
sheet?


a. Report of a company's operating
performance during a period of time
b. Report of a company's financial position
during a period of time
c. Report of a company's operating
performance as of a point in time
d. Report of a company's financial position as
of a point in time - answer D

,What is an owners' equity item?


a. Capital stock
b. Loans payable
c. Cash
d. Accounts Receivable (A/R) - answer A


A company ended July with assets of
$150,000 and owner's equity of $60,000.
What is the amount of liabilities at the end of
July?


a. $60,000
b. $90,000
c. $150,000
d. $300,000 - answer B


What is reported in a multiple-step income
statement that is not reported in a single-
step income statement?

,a. Dividends
b. Retained earnings
c. Gross profit
d. Cash collected from customers - answer C


How is gross profit computed?


a. Cash - Dividends
b. Sales - Operating Expenses
c. Sales - COGS
d. Total Revenue - Total Expenses - answer C


The following are some accounts from a
company's financial statements:
1. Accounts Receivable (A/R)
2. COGS
3. Cash
4. Retained Earnings
5. Sales
6. Inventory
7. Income Tax Expense

, 8. Accounts Payable (A/P)
Which set is a list of all the items that are
used in computing this company's net
income?


a. 3, 4, and 8
b. 2, 5, and 7
c. 1, 3, and 8
d. 4, 6, and 8 - answer B


What cash flow category contains activities
whereby cash is obtained from or repaid to
owners or creditors?


a. Equity
b. Investing
c. Revenue
d. Financing - answer D


Here are come financial statement items for
the year for a company:
1. Cash received from customers

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