1
WGU D196
WGU D196 | (NEW 2025/ 2026) |
Objective Assessment Principles of
Financial & Managerial Accounting|
Qs & As| Grade A| 100% Correct
Manufacturing costs other than direct materials and direct labor. - ANS ✓Actual
Manufacturing Overhead
A professional organization for cpas in which membership is voluntary. - ANS
✓American Institute of Certified Public Accountants (AICPA)
A document that summarizes the results of operations and financial status of a company
for the past year and outlines future plans. - ANS ✓Annual Report
The amount of the manufacturing overhead that is assigned to the goods produced. This
is usually done by using a predetermined annual overhead rate. - ANS ✓Applied
Manufacturing Overhead
A transaction in which a buyer and seller act independently to get the best possible deal.
- ANS ✓Arm's-length Transaction
WGU D196
, 2
WGU D196
The interrelationships among the financial statements. - ANS ✓Articulation
Economic resources that are owned or controlled by a company. - ANS ✓Assets
A summary of the financial position of a company at a particular date. - ANS ✓Balance
Sheet
Activities that take place in order to support a batch or production run, regardless of the
size of the batch. - ANS ✓Batch-level Activities
The value of a company measured by the amount of owner's equity in the company. -
ANS ✓Book Value
To make just enough income to cover costs without any profit or loss. - ANS ✓Break
Even
The amount of sales at which total costs of the number of units sold equal total
revenues; the point at which there is no profit or loss. - ANS ✓Break-even Point
WGU D196
, 3
WGU D196
A quantitative expression of a plan that shows how a firm or organization will acquire
and use resources over some specified period of time. - ANS ✓Budget
An organization operated with the objective of making a profit from the sale of goods or
services. - ANS ✓Business
Records of transactions used as the basis for recording accounting entries; include
invoices, check stubs, receipts, and similar business papers. - ANS ✓Business Documents
Systematic planning for long-term investments in operating assets. - ANS ✓Capital
Budgeting
The portion of stockholder's equity that represents investment by owners in exchange
for shares of stock; also referred to as paid-in capital. - ANS ✓Capital Stock
A short-term schedule of expected cash inflows and outflows during a period of time. -
ANS ✓Cash Budget
An accountant who has met specified professional requirements established by the
AICPA and local and state societies. A key service provided by cpas is the performance of
independent audits of financial statements. - ANS ✓Certified Public Accountant (CPA)
WGU D196
WGU D196
WGU D196 | (NEW 2025/ 2026) |
Objective Assessment Principles of
Financial & Managerial Accounting|
Qs & As| Grade A| 100% Correct
Manufacturing costs other than direct materials and direct labor. - ANS ✓Actual
Manufacturing Overhead
A professional organization for cpas in which membership is voluntary. - ANS
✓American Institute of Certified Public Accountants (AICPA)
A document that summarizes the results of operations and financial status of a company
for the past year and outlines future plans. - ANS ✓Annual Report
The amount of the manufacturing overhead that is assigned to the goods produced. This
is usually done by using a predetermined annual overhead rate. - ANS ✓Applied
Manufacturing Overhead
A transaction in which a buyer and seller act independently to get the best possible deal.
- ANS ✓Arm's-length Transaction
WGU D196
, 2
WGU D196
The interrelationships among the financial statements. - ANS ✓Articulation
Economic resources that are owned or controlled by a company. - ANS ✓Assets
A summary of the financial position of a company at a particular date. - ANS ✓Balance
Sheet
Activities that take place in order to support a batch or production run, regardless of the
size of the batch. - ANS ✓Batch-level Activities
The value of a company measured by the amount of owner's equity in the company. -
ANS ✓Book Value
To make just enough income to cover costs without any profit or loss. - ANS ✓Break
Even
The amount of sales at which total costs of the number of units sold equal total
revenues; the point at which there is no profit or loss. - ANS ✓Break-even Point
WGU D196
, 3
WGU D196
A quantitative expression of a plan that shows how a firm or organization will acquire
and use resources over some specified period of time. - ANS ✓Budget
An organization operated with the objective of making a profit from the sale of goods or
services. - ANS ✓Business
Records of transactions used as the basis for recording accounting entries; include
invoices, check stubs, receipts, and similar business papers. - ANS ✓Business Documents
Systematic planning for long-term investments in operating assets. - ANS ✓Capital
Budgeting
The portion of stockholder's equity that represents investment by owners in exchange
for shares of stock; also referred to as paid-in capital. - ANS ✓Capital Stock
A short-term schedule of expected cash inflows and outflows during a period of time. -
ANS ✓Cash Budget
An accountant who has met specified professional requirements established by the
AICPA and local and state societies. A key service provided by cpas is the performance of
independent audits of financial statements. - ANS ✓Certified Public Accountant (CPA)
WGU D196
