WGU D196 Principles of Financial & Managerial Accounting EXAM PREPARATIONS, STUDY REFERENCE MATERIALS AND EXAM SAMPLES

ACCOUNTING D196 Which primary area of accounting generates reports for internal users? - correct answer Management Accounting What is the role of the IASB in regulating accounting standards? - correct answer Establish international accounting standards What group of people make up the FASB?...

D196- PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING bookkeeping - correct answer day to day keeping of transcations steps of decision making - correct answer identify issue gather information identify alternatives select option that most likely results in desired objective accounting...

D196-PRINCIPLES OF FINANCIAL & MANAGERIAL ACCOUNTING Absolute Cell Reference - correct answer A cell reference that remains constant when a formula is pasted into a new cell Account - correct answer An accounting record in which the results of transactions accumulated; shows increases, decreas...

WGU Principles of Financial and Managerial Accounting D196 Accounting System Used by business to: 1. Analyze transactions 2. Handle routine bookkeeping tasks 3. Use the information to evaluate business performance Analysis/Bookkeeping/Evaluation Accounting Quantitative information, prim...

WGU PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING D196 Practice Questions Manufacturing Overhead Budget - correct answer Which budget should include all production costs other than those for direct materials and direct labor? Accounts receivable - correct answer Which account is a common ...

WGU D196PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING test What is the effect of a company's accounting department maintaining high ethical standards? - correct answer The company's accounting information will increase in value. Why might employees be interested in their company's finan...

D196 Principles of Financial Accounting Financial Accounting - correct answer People outside of the company Managerial Accounting - correct answer People inside of the company Bookkeeping - correct answer the preservation of a systematic, quantitative record of an activity Analysis; Book...

Principles of Financial and Managerial Accounting - D196 WGU the production budget - correct answer Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget - correct answer Production budget × direct materials per unit the dire...

D196-Principles of Financial & Managerial Accounting Absolute Cell Reference - correct answer A cell reference that remains constant when a formula is pasted into a new cell Account - correct answer An accounting record in which the results of transactions accumulated; shows increases, decreas...

D196 Practice Questions Principles of Financial & Managerial Accounting Manufacturing Overhead Budget - correct answer Which budget should include all production costs other than those for direct materials and direct labor? Accounts receivable - correct answer Which account is a common asset ac...

Manufacturing Overhead Budget - correct answer Which budget should include all production costs other than those for direct materials and direct labor? Accounts receivable - correct answer Which account is a common asset account? Balance Sheet - correct answer On which financial statement woul...

Principles of Financial and Managerial Accounting - D196 test Accounting plays a vital role in the decision-making process. Which action is the first step in the decision-making process? Identify the issue The money that a company needs to buy its land, pay its employees, and buy its supplies i...

Unit 2: International Accounting Standards Board (IASB) A committee formed to develop international accounting standards. Unit 2: American Institute of Certified Public Accountants (AICPA) A professional organization for CPAs in which membership is voluntary. Professional Sanctions Unit 2: Certi...

What is an example of direct materials? Cost of robotic equipment in making automobiles Cost of sandpaper in making wood furniture Cost of saws and hammers in constructing a house Cost of aluminum in making an airplane - correct answer Cost of aluminum in making an airplane What is the effect...