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WGU D196 Study Guide (Latest 2024/ 2025 Update) Principles of Financial and Managerial Accounting- Questions and Verified Answers| 100% Correct| Grade A R207,97
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WGU D196 Study Guide (Latest 2024/ 2025 Update) Principles of Financial and Managerial Accounting- Questions and Verified Answers| 100% Correct| Grade A
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WGU D196 Study Guide (Latest 2024/ 2025 Update) Principles of Financial and Managerial Accounting- Questions and Verified Answers| 100% Correct| Grade A Q: Securities and Exchange Commission(SEC) Answer: Regulates stock exchanges a) Has legal authority to regulate financial markets and ac...

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  • August 2, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • wgu d196d196 financial
  • wgu d196 study guide latest update pr
  • what are the four financial statements covered in
  • securities and exchange commissionsec
  • wgu d196d196 principles of financial and manageri

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WGUID196IStudyIGuideI(LatestI2024/I2025
IUpdate)IPrinciples IofIFinancial IandI Managerial IAccounting -IQuestions IandI VerifiedIAnswers| I100%ICorrect|IGradeIA Q:ISecuritiesIandIExchangeICommission(SEC) Answer: RegulatesIstockIexchanges a)IHasIlegalIauthorityItoIregulateIfinancialImarketsIandIaccounting b)IUsuallyIdefersItoItheIFASBIonIaccounting Imatters Q:ITheIPublicICompanyIAccounting IOversightIBoard(PCAOB) Answer: OverseesIallIaccounting Ifirms. Q:IWhatIisItheIroleIandIpurposeIofIaccounting I? Answer: Role:IToIhelpItrackIincomeIandIexpenditures, IandItoIprovideIinvestors,Imanagement, IandIgove
rnmentIwithIfinancialIinformation. Purpose:IToIaccumulate, Imeasure,IandIcommunicate IfinancialIinformation IaboutIbusinessesIan
dIotherIorganizations. Q:IInternalIRevenueIService(IRS) Answer: CollectsIandIregulatesIincomeItaxes Q:IInternational IAccounting IStandardsIBoard(IASB) Answer: TheIFASBIofItheIworld(except ItheIUSA) Q:IAssets Answer: assetsIareIwhatIweIOWN. ICommonIAssets: -)ICash -)IAccountsIreceivable -)IInventory -)IBuildings -)IPrepaid Q:ILiabilities Answer: AnIobligationItoIpayIcash,ItransferIotherIassets,IorIprovideIservicesItoIsomeone. A)ILiabilitiesIareIwhatIweIOWE. B)ICommonILiabilities: -)IAccountsIPayable -)ITaxesIPayable -)IMortgageIPayable -)IUnearnedIRevenue Q:IOwnersIEquity Answer: TheIownersIshareIofIearnings. A)ISourcesIofIequity: -)ICapital/Common IStock -)IRetainedIEarnings Q:IWhatIisItheIAccounting ICycleIandIhowIdoesIitIwork? Answer: TheIaccounting IcycleIisItheIprocedureIforIanalyzing,Irecording,Isummarizing, IandIpreparingIth
eItransactions IofIaIbusiness.ITheIaccounting IcycleIworksIbyIturningItransactions IintoIfinancial
IstatementsIthroughItheseIsteps: StepI1:IAnalyzeITransactions StepI2:IRecordItheIeffectsIofItransactions StepI3:ISummarize ItheIeffects StepI4:IPrepareIreports Q:I·IWhatIisItheIAccounting IEquation? Answer: Assets=Liability+Equity(ALE) Q:ICanIyouIexplainItheI'expanded'Iaccounting Iequation? Answer: Assets=Liabilities+(Capital IStock+Cumulative INetIIncome-Cumulative IDividends) Q:IWhatIareItheIfourIfinancialIstatements IcoveredIinIthisImodule?

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