WGU D196 : FUNDAMENTALS OF FINANCIAL AND MANAGERIAL ACCOUNTING – QUIZ | VERIFIED QUESTIONS AND ANSWERS -2026

📘 FUNDAMENTALS
Notes D196 Fundamentals of Financial & Managerial Accounting Quiz




OF
FINANCIAL AND
MANAGERIAL
ACCOUNTING – QUIZ
🔹 Section 1: Fill in the Blank
1. Straight-Line Depreciation = (Cost – Salvage Value) / __________




2. Assets = __________ + __________




3. Gross Profit = __________ – Cost of Goods Sold




4. Break-Even Units = Fixed Costs / (__________ – Variable Cost per Unit)




5. Contribution Margin Ratio = Contribution Margin / __________

, 🔹 Section 2: Multiple Choice
Notes D196 Fundamentals of Financial & Managerial Accounting Quiz




6. What is the formula for Return on Equity (ROE)?
A. Net Income / Total Assets
B. Net Income / Equity
C. Equity / Net Income
D. Assets – Liabilities


7. If a company has $40,000 in current assets and $20,000 in current
liabilities, what is the Current Ratio?
A. 1.5
B. 2.0
C. 0.5
D. 3.0


8. Which of the following is not included in the calculation of Operating
Cash Flow (Indirect Method)?
A. Net Income
B. Depreciation
C. Dividends Paid
D. Changes in Working Capital




🔹 Section 3: Short Calculations