D196 WGU
Western Governers University
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D196 Principles of Financial & Managerial Accounting STUDY GUIDE
- Exam (elaborations) • 28 pages • 2024
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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 would you see the valuation of a company's asset account? 
 
Preparing Reports - correct answer What is the final step in the accounting cycle? 
 
Preparing financial statements - correct answer Which of...
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D196-Principles of Financial & Managerial Accounting Practice Questions
- Exam (elaborations) • 28 pages • 2024
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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 account? 
 
Balance Sheet - correct answer On which financial statement would you see the valuation of a company's asset account? 
 
Preparing Reports - correct answer What is the final step in the acc...
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D196-Principles of Financial & Managerial Accounting
- Exam (elaborations) • 21 pages • 2024
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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, decreases, and a balance. 
 
Accounting - correct answer A system for providing quantitative, financial information about economic entities that is useful for making sound economic decisions. Accounting prov...
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Principles of Financial and Managerial Accounting - D196 WGU SPRING MIDTERM EXAM
- Exam (elaborations) • 18 pages • 2024
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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 direct materials purchases budget - correct answer Direct materials production budget + ending direct materials inventory - beginning direct materials inventory 
 
Cash collected from customers - correct ...
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D196 Principles of Financial Accounting STUDY GUIDE
- Exam (elaborations) • 16 pages • 2024
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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; Bookkeeping; Evaluation - correct answer Accounting involves _______, meaning looking at business events to determine if information should be captured by the accounting system; ______ which is the day-to...
Too much month left at the end of the money?
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WGU PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING D196 SPRING TEST
- Exam (elaborations) • 6 pages • 2024
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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 financial accounting information? - correct answer Financial statement data are often used in determining employee bonuses. 
 
Which group establishes financial accounting rules in the United States? - cor...
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WGU PRINCIPLES OF FINANCIAL AND MANAGERIAL ACCOUNTING D196 Practice Questions
- Exam (elaborations) • 22 pages • 2024
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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 asset account? 
 
Balance Sheet - correct answer On which financial statement would you see the valuation of a company's asset account? 
 
Preparing Reports - correct answer What is the final step in...
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WGU Principles of Financial and Managerial Accounting D196
- Exam (elaborations) • 20 pages • 2024
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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, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions 
Decision-Making Process 
 
Business 
An organization operated with the objective of maki...
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D196 WGU 2023|24 Questions and Answers (Latest Update) Graded A+
- Exam (elaborations) • 44 pages • 2023
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D196 WGU 2023|24 Questions and 
Answers (Latest Update) Graded 
A+ 
What is the effect of a company's accounting department maintaining high ethical standards? 
The company can hire fewer accountants to do the same amount of work. 
The company's accounting information will decrease in value. 
The company can report more favorable results in its financial statements. 
The company's accounting information will increase in value. The company's accounting 
information will increase in value. 
Wh...
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