12/14/25, 2:43 PM WGU D774 Intro to Business Accounting Flashcards | Quizlet
Social Science Economics Finance
WGU D774 Intro to Business
Accounting EXAM ACTUAL QUESTIONS
AND CORRECT VERIFIED ANSWERS
ALREADY GRADED A+ 100%
GUARANTEED PASS!
In which country was the Italy 3 multiple choice options
double-entry accounting system
developed in the 15th century?
Which major economic event Great Depression 3 multiple choice options
followed soon after the Stock
Market Crash of 1929?
Which economic event Dot-com bubble 3 multiple choice options
immediately preceded and led
to the passage of the
Sarbanes-Oxley Act of 2002?
Why are there no standardized Company managers can generate any information they want to
regulations relating to the help them make better decisions, so no outside regulation is
production of managerial needed.
accounting information? 3 multiple choice options
What is a common use of Making better planning, operating, and evaluating decisions
managerial accounting inside a company
information? 3 multiple choice options
Which report is one of the three Income statement 3 multiple choice options
primary financial statements?
Who performs external audits Certified Public Accountant (CPA) 3 multiple choice options
of financial statements?
Who selects a corporation’s Shareholders of the corporation 3 multiple choice options
board of directors?
What is an advantage of Legal existence separated from that of the shareholders
structuring a business as a
3 multiple choice options
corporation?
What is one of the Ease of transfer of ownership 3 multiple choice options
characteristics of a
corporation?
https://quizlet.com/1020532785/wgu-d774-intro-to-business-accounting-flash-cards/ 1/8
, 12/14/25, 2:43 PM WGU D774 Intro to Business Accounting Flashcards | Quizlet
What is contained in Securities Annual audited financial statements 3 multiple choice options
and Exchange Commission
Form 10-K?
Why would a company's To assess the current profitability of the company, its
employees be directly performance, and its liquidity
interested in the company's
3 multiple choice options
income statement?
Which information is contained The amount by which revenues exceed expenses
in the reported amount of net
3 multiple choice options
income?
Which measurement is Operating income 3 multiple choice options
highlighted in the multi-step
format for the income
statement?
Which label refers to the costs Cost of sales 3 multiple choice options
of buying or making the
products a company sells?
Which item is listed first on the Revenues 3 multiple choice options
income statement?
Which item is reported in an Revenues 3 multiple choice options
income statement?
In which situation does a When products or services are sold 3 multiple choice options
company report revenue?
Which item should be reported Amount earned from customers for the sale of goods
as revenue in the income
3 multiple choice options
statement?
https://quizlet.com/1020532785/wgu-d774-intro-to-business-accounting-flash-cards/ 2/8
Social Science Economics Finance
WGU D774 Intro to Business
Accounting EXAM ACTUAL QUESTIONS
AND CORRECT VERIFIED ANSWERS
ALREADY GRADED A+ 100%
GUARANTEED PASS!
In which country was the Italy 3 multiple choice options
double-entry accounting system
developed in the 15th century?
Which major economic event Great Depression 3 multiple choice options
followed soon after the Stock
Market Crash of 1929?
Which economic event Dot-com bubble 3 multiple choice options
immediately preceded and led
to the passage of the
Sarbanes-Oxley Act of 2002?
Why are there no standardized Company managers can generate any information they want to
regulations relating to the help them make better decisions, so no outside regulation is
production of managerial needed.
accounting information? 3 multiple choice options
What is a common use of Making better planning, operating, and evaluating decisions
managerial accounting inside a company
information? 3 multiple choice options
Which report is one of the three Income statement 3 multiple choice options
primary financial statements?
Who performs external audits Certified Public Accountant (CPA) 3 multiple choice options
of financial statements?
Who selects a corporation’s Shareholders of the corporation 3 multiple choice options
board of directors?
What is an advantage of Legal existence separated from that of the shareholders
structuring a business as a
3 multiple choice options
corporation?
What is one of the Ease of transfer of ownership 3 multiple choice options
characteristics of a
corporation?
https://quizlet.com/1020532785/wgu-d774-intro-to-business-accounting-flash-cards/ 1/8
, 12/14/25, 2:43 PM WGU D774 Intro to Business Accounting Flashcards | Quizlet
What is contained in Securities Annual audited financial statements 3 multiple choice options
and Exchange Commission
Form 10-K?
Why would a company's To assess the current profitability of the company, its
employees be directly performance, and its liquidity
interested in the company's
3 multiple choice options
income statement?
Which information is contained The amount by which revenues exceed expenses
in the reported amount of net
3 multiple choice options
income?
Which measurement is Operating income 3 multiple choice options
highlighted in the multi-step
format for the income
statement?
Which label refers to the costs Cost of sales 3 multiple choice options
of buying or making the
products a company sells?
Which item is listed first on the Revenues 3 multiple choice options
income statement?
Which item is reported in an Revenues 3 multiple choice options
income statement?
In which situation does a When products or services are sold 3 multiple choice options
company report revenue?
Which item should be reported Amount earned from customers for the sale of goods
as revenue in the income
3 multiple choice options
statement?
https://quizlet.com/1020532785/wgu-d774-intro-to-business-accounting-flash-cards/ 2/8
