WGU D102 Pre-Assessment Exam/57
Questions and Answers
What information is contained in a balance sheet?
a. Report of a company's operating performance during a period of time
b. Report of a company's financial position during a period of time
c. Report of a company's operating performance as of a point in time
d. Report of a company's financial position as of a point in time - -D
- What is an owners' equity item?
a. Capital stock
b. Loans payable
c. Cash
d. Accounts Receivable (A/R) - -A
- A company ended July with assets of $150,000 and owner's equity of
$60,000. What is the amount of liabilities at the end of July?
a. $60,000
b. $90,000
c. $150,000
d. $300,000 - -B
- What is reported in a multiple-step income statement that is not reported
in a single-step income statement?
a. Dividends
b. Retained earnings
c. Gross profit
d. Cash collected from customers - -C
- How is gross profit computed?
a. Cash - Dividends
b. Sales - Operating Expenses
c. Sales - COGS
d. Total Revenue - Total Expenses - -C
- The following are some accounts from a company's financial statements:
1. Accounts Receivable (A/R)
2. COGS
3. Cash
, 4. Retained Earnings
5. Sales
6. Inventory
7. Income Tax Expense
8. Accounts Payable (A/P)
Which set is a list of all the items that are used in computing this company's
net income?
a. 3, 4, and 8
b. 2, 5, and 7
c. 1, 3, and 8
d. 4, 6, and 8 - -B
- What cash flow category contains activities whereby cash is obtained from
or repaid to owners or creditors?
a. Equity
b. Investing
c. Revenue
d. Financing - -D
- Here are come financial statement items for the year for a company:
1. Cash received from customers
2. Cash received from the sale of land
3. Cash paid for dividends
4. Cash paid to employees for wages
5. Cash paid to purchase a new building
6. Cash paid for rent
7. Cash received as new investment from owners
Which set of items is a list that are used in computing the company's
financing cash flow for the year?
a. 1 and 4
b. 2 and 5
c. 1 and 6
d. 3 and 7 - -D
- Here are some financial statement items for a company:
1. Net income
2. Cash inflow from financing activities
3. Cash balance at the beginning of the year
4. Sales cash inflow from investing activities
5. Accounts receivable
6. Retained earnings at the beginning of the year
7. Cash inflow from operating activities
Questions and Answers
What information is contained in a balance sheet?
a. Report of a company's operating performance during a period of time
b. Report of a company's financial position during a period of time
c. Report of a company's operating performance as of a point in time
d. Report of a company's financial position as of a point in time - -D
- What is an owners' equity item?
a. Capital stock
b. Loans payable
c. Cash
d. Accounts Receivable (A/R) - -A
- A company ended July with assets of $150,000 and owner's equity of
$60,000. What is the amount of liabilities at the end of July?
a. $60,000
b. $90,000
c. $150,000
d. $300,000 - -B
- What is reported in a multiple-step income statement that is not reported
in a single-step income statement?
a. Dividends
b. Retained earnings
c. Gross profit
d. Cash collected from customers - -C
- How is gross profit computed?
a. Cash - Dividends
b. Sales - Operating Expenses
c. Sales - COGS
d. Total Revenue - Total Expenses - -C
- The following are some accounts from a company's financial statements:
1. Accounts Receivable (A/R)
2. COGS
3. Cash
, 4. Retained Earnings
5. Sales
6. Inventory
7. Income Tax Expense
8. Accounts Payable (A/P)
Which set is a list of all the items that are used in computing this company's
net income?
a. 3, 4, and 8
b. 2, 5, and 7
c. 1, 3, and 8
d. 4, 6, and 8 - -B
- What cash flow category contains activities whereby cash is obtained from
or repaid to owners or creditors?
a. Equity
b. Investing
c. Revenue
d. Financing - -D
- Here are come financial statement items for the year for a company:
1. Cash received from customers
2. Cash received from the sale of land
3. Cash paid for dividends
4. Cash paid to employees for wages
5. Cash paid to purchase a new building
6. Cash paid for rent
7. Cash received as new investment from owners
Which set of items is a list that are used in computing the company's
financing cash flow for the year?
a. 1 and 4
b. 2 and 5
c. 1 and 6
d. 3 and 7 - -D
- Here are some financial statement items for a company:
1. Net income
2. Cash inflow from financing activities
3. Cash balance at the beginning of the year
4. Sales cash inflow from investing activities
5. Accounts receivable
6. Retained earnings at the beginning of the year
7. Cash inflow from operating activities
