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D196 WGU Principles of Financial and Managerial Accounting Study Guide Exam with 55 Multiple Choices Questions and Verified Answers 100% Guaranteed Pass 2025/2026$16.49
D196 WGU Principles of Financial and Managerial Accounting Study Guide Exam with 55 Multiple Choices Questions and Verified Answers 100% Guaranteed Pass 2025/2026
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D196 WGU
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D196 WGU
D196 WGU study guide
Principles of financial accounting exam prep
Managerial accounting test questions
WGU accounting exam answers
Financial and managerial accounting study material
D196 WGU multiple choice questions
Verified answers for WGU accounting exam
WGU D196 exam preparation
Princip...
D196 WGU Principles of Financial and Managerial Accounting
Study Guide Exam with 55 Multiple Choices Questions and Verified Answers
100% Guaranteed Pass
1. What is the effect of a company's accounting department maintaining high eth
e e e e e e e e e e e
ical standards?
e
The company can hire fewer accountants to do the same amount of work. The co
e e e e e e e e e e e e e e
mpany's accounting information will decrease in value.
e e e e e e
The company can report more favorable results in its financial statements. The c
e e e e e e e e e e e e
ompany's accounting information will increase in value.: The company's accounti
e e e e e e e e e
ng information will increase in value.
e e e e e
2. Why might employees be interested in their company's financial accounting inf
e e e e e e e e e e
ormation?
Financial statement data are used to record long term liabilities. Financial s
e e e e e e e e e e e
tatement data provide item-by-e e e
item product cost information. Financial statement data provide detailed int
e e e e e e e e e
ernal budget information.
e e
Financial statement data are often used in determining employee bonuses.: -
e e e e e e e e e e
Financial statement data are often used in determining employee bonuses.
e e e e e e e e e
1e/e29
,3. Which group establishes financial accounting rules in the United States? Am
e e e e e e e e e e
erican Institute of Certified Public Accountants (AICPA)
e e e e e e
Financial Accounting Standards Board (FASB) International Ac
e e e e e e
counting Standards Board (IASB) e e e
Internal Revenue Service (IRS): Financial Accounting Standards Board (FASB)
e e e e e e e e
4. Which report is one of the three primary financial statements? St
e e e e e e e e e e
atement of the accounting cycle e e e e
Statement of management accounting Statement e e e e
e of cash flows
e e
Statement of stakeholder funds: Statement of cash flows
e e e e e e e
5. A company paid $5,000 cash in advertising costs.
e e e e e e e
How does this transaction affect the paying company's accounting equation? Ass
e e e e e e e e e e
ets decrease by $5,000; expenses increase by $5,000.
e e e e e e e
Assets increase by $5,000; expenses increase by $5,000. Asse
e e e e e e e e
ts decrease by $5,000; revenues increase by $5,000.
e e e e e e e
Assets decrease by $5,000; liabilities increase by $5,000.: Assets decrease by
e e e e e e e e e e
$5,000; expenses increase by $5,000.
e e e e
6. What is a transaction? e e e
2e/e29
, A type of commonly used accounting software A c
e e e e e e e e
ategory of merchandiser or retailer
e e e e
Two parties exchanging something of value
e e e e e
An example of an online business document: Two parties exchanging something of v
e e e e e e e e e e e e
alue
7. A company borrowed $80,000 cash from a bank.
e e e e e e e
How does this transaction affect the accounting equation of the borrowing
e e e e e e e e e e
3e/e29
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