age 1 of 333
WGU D102 FINANCIAL ACCOUNTING OBJECTIVE
ASSESSMENT ACTUAL EXAM 2025/2026 COMPLETE
QUESTIONS WITH VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS <NEWEST VERSION>
What is a balance sheet?
Report of the total of the balances of all of a company's bank
accounts
Report of the assets, liabilities, and equity of a company as of a
point in time
Report of the revenues and expenses of a company during a
period
,age 2 of 333
Report of the operating, investing, and financing cash flows of a
company during a period .......Answer.........Report of the assets,
liabilities, and equity of a company as of a point in time
Which item is a liability?
Accounts payable
Retained earnings
Accounts receivable
Capital stock .......Answer.........Accounts payable
Which item is an owners' equity item?
Accounts payable
Accounts receivable
Retained earnings
,age 3 of 333
Inventory .......Answer.........Retained earnings
Strime Company's assets equal $104,000, and its stockholders'
equity totals $68,500.
What is the amount of its liabilities?
$35,500
$172,500
$68,500
$104,000 .......Answer.........$35,500
The Whole Pine Company's liabilities equal $124,000, and its
stockholders' equity totals $68,500. What is the amount of its
assets?
, age 4 of 333
$55,500
$124,000
$68,500
$192,500 .......Answer.........$192,500
Which is the proper description of the accounting equation?
Owners' Equity = Assets
Assets = Liabilities + Owners' Equity
Assets = Liabilities
Owners' Equity = Liabilities .......Answer.........Assets = Liabilities +
Owners' Equity
WGU D102 FINANCIAL ACCOUNTING OBJECTIVE
ASSESSMENT ACTUAL EXAM 2025/2026 COMPLETE
QUESTIONS WITH VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS <NEWEST VERSION>
What is a balance sheet?
Report of the total of the balances of all of a company's bank
accounts
Report of the assets, liabilities, and equity of a company as of a
point in time
Report of the revenues and expenses of a company during a
period
,age 2 of 333
Report of the operating, investing, and financing cash flows of a
company during a period .......Answer.........Report of the assets,
liabilities, and equity of a company as of a point in time
Which item is a liability?
Accounts payable
Retained earnings
Accounts receivable
Capital stock .......Answer.........Accounts payable
Which item is an owners' equity item?
Accounts payable
Accounts receivable
Retained earnings
,age 3 of 333
Inventory .......Answer.........Retained earnings
Strime Company's assets equal $104,000, and its stockholders'
equity totals $68,500.
What is the amount of its liabilities?
$35,500
$172,500
$68,500
$104,000 .......Answer.........$35,500
The Whole Pine Company's liabilities equal $124,000, and its
stockholders' equity totals $68,500. What is the amount of its
assets?
, age 4 of 333
$55,500
$124,000
$68,500
$192,500 .......Answer.........$192,500
Which is the proper description of the accounting equation?
Owners' Equity = Assets
Assets = Liabilities + Owners' Equity
Assets = Liabilities
Owners' Equity = Liabilities .......Answer.........Assets = Liabilities +
Owners' Equity
