WGU C214 Concepts Only Multi
Exam Complete Questions &
Quiz_________________?
A basic equation for the balance sheet is:
a. Equity = Assets - Liabilities
b. Liabilities = Equity + Assets
c. Assets = Liabilities - Equity
d. Assets = Equity - Liabilities -
Answer✅
a
Quiz_________________?
A basic equation for the balance sheet is:
a. Equity = Assets - Liabilities
b. Liabilities = Equity + Assets
c. Assets = Liabilities - Equity
d. Assets = Equity - Liabilities -
Answer✅
a
1
, Quiz_________________?
A company's trial balance shows $900 in long-term debt. On which financial statement
should this be shown?
A. The general ledger
B. The statement of cash flows
C. The income statement
D. The balance sheet -
Answer✅
d
Quiz_________________?
A credit agency recently downgraded a company's debt. What is the impact on the cost of
debt?
A. The cost of capital will increase
B. The cost of capital will decrease
C. The cost of equity will decrease
D. The cost of capital will remain the same -
Answer✅
a
2
, Quiz_________________?
A limit order to buy a stock at $101.55 would execute at the current ask price (T/F) -
Answer✅
F
Quiz_________________?
A limit order to buy a stock at $101.55 would execute when the ask price is at or below
$101.55 (T/F) -
Answer✅
T
Quiz_________________?
A market order to buy a stock would execute at the current ask price (T/F) -
Answer✅
T
Quiz_________________?
A market order to sell a stock would execute at the current ask price (T/F) -
Answer✅
T
Quiz_________________?
3
, A special interest group in the U.S. has been lobbying intensely for protectionism through
increased tariffs and trade restrictions, with the argument that it will save jobs in the
industry they represent. What is the most likely result if they are successful?
A. Employees and shareholders of the domestic industry that produce the protective goods
will be hurt and the nation will benefit.
B. The overall economy will benefit from trade restrictions and tariffs.
C. Removing the trade restrictions and tariffs will result in a net economic loss to the
overall U.S. economy.
D. Employees and shareholders of the domestic industry that produce the protected goods
will benefit and the nation will be hurt. -
Answer✅
d
Quiz_________________?
An analyst is comparing the ratios of two firms and needs to address accounting differences.
What would be considered an accounting difference between the two firms?
A. The firms have different auditors
B. The firms use different inventory methods
C. The firms have different fiscal years
D. The firms are in different industries -
Answer✅
b
Quiz_________________?
An analyst is comparing the ratios of two firms and needs to address accounting differences.
What would be considered an accounting difference between two firms?
4
Exam Complete Questions &
Quiz_________________?
A basic equation for the balance sheet is:
a. Equity = Assets - Liabilities
b. Liabilities = Equity + Assets
c. Assets = Liabilities - Equity
d. Assets = Equity - Liabilities -
Answer✅
a
Quiz_________________?
A basic equation for the balance sheet is:
a. Equity = Assets - Liabilities
b. Liabilities = Equity + Assets
c. Assets = Liabilities - Equity
d. Assets = Equity - Liabilities -
Answer✅
a
1
, Quiz_________________?
A company's trial balance shows $900 in long-term debt. On which financial statement
should this be shown?
A. The general ledger
B. The statement of cash flows
C. The income statement
D. The balance sheet -
Answer✅
d
Quiz_________________?
A credit agency recently downgraded a company's debt. What is the impact on the cost of
debt?
A. The cost of capital will increase
B. The cost of capital will decrease
C. The cost of equity will decrease
D. The cost of capital will remain the same -
Answer✅
a
2
, Quiz_________________?
A limit order to buy a stock at $101.55 would execute at the current ask price (T/F) -
Answer✅
F
Quiz_________________?
A limit order to buy a stock at $101.55 would execute when the ask price is at or below
$101.55 (T/F) -
Answer✅
T
Quiz_________________?
A market order to buy a stock would execute at the current ask price (T/F) -
Answer✅
T
Quiz_________________?
A market order to sell a stock would execute at the current ask price (T/F) -
Answer✅
T
Quiz_________________?
3
, A special interest group in the U.S. has been lobbying intensely for protectionism through
increased tariffs and trade restrictions, with the argument that it will save jobs in the
industry they represent. What is the most likely result if they are successful?
A. Employees and shareholders of the domestic industry that produce the protective goods
will be hurt and the nation will benefit.
B. The overall economy will benefit from trade restrictions and tariffs.
C. Removing the trade restrictions and tariffs will result in a net economic loss to the
overall U.S. economy.
D. Employees and shareholders of the domestic industry that produce the protected goods
will benefit and the nation will be hurt. -
Answer✅
d
Quiz_________________?
An analyst is comparing the ratios of two firms and needs to address accounting differences.
What would be considered an accounting difference between the two firms?
A. The firms have different auditors
B. The firms use different inventory methods
C. The firms have different fiscal years
D. The firms are in different industries -
Answer✅
b
Quiz_________________?
An analyst is comparing the ratios of two firms and needs to address accounting differences.
What would be considered an accounting difference between two firms?
4
