WGU D196 Questions and Correct
Verified Answers Latest Update |
Graded A+
Q: Absolute Cell Reference
Ans: A cell reference that remains constant when a formula is pasted into a
new cell.
Q: Account
Ans: An accounting record in which the results of transactions are
accumulated; shows increases, decreases, and a balance.
Q: Accounting
Ans: A system for providing quantitative, financial information about
economic entities that is useful for making sound economic decisions.
Accounting provides the means of recording and communicating business
activities and the results of those activities.
Q: Accounting Cycle
,Ans: The procedure for analyzing, recording, summarizing, and reporting the
transactions of a business.
Q: Accounting Equation
Ans: An algebraic equation that expresses the relationship between assets
(resources), liabilities (obligations), and owner's equity (net assets, or the
residual interest in a business after all liabilities have been met): Assets =
Liabilities + Owners' Equity.
Q: Accounting System
Ans: The procedures and processes used by a business to analyze
transactions, handle routine bookkeeping tasks, and structure information so
it can be used to evaluate the performance and health of the business.
Q: Activity-based Costing (ABC)
Ans: A method of attributing overhead costs to products based on
measurable factors that relate to activities that create overhead costs.
Q: Actual Manufacturing Overhead
,Ans: Manufacturing costs other than direct materials and direct labor.
Q: American Institute of Certified Public Accountants (AICPA)
Ans: A professional organization for CPAs in which membership is voluntary.
Q: Annual Report
Ans: A document that summarizes the results of operations and financial
status of a company for the past year and outlines future plans.
Q: Applied Manufacturing Overhead
Ans: The amount of the manufacturing overhead that is assigned to the
goods produced. This is usually done by using a predetermined annual
overhead rate.
Q: Arm's-length Transaction
Ans: A transaction in which a buyer and seller act independently to get the
best possible deal.
Q: Articulation
, Ans: The interrelationships among the financial statements.
Q: Assets
Ans: Economic resources that are owned or controlled by a company.
Q: Balance Sheet
Ans: A summary of the financial position of a company at a particular date.
Q: Batch-level Activities
Ans: Activities that take place in order to support a batch or production run,
regardless of the size of the batch.
Q: Book Value
Ans: The value of a company measured by the amount of owner's equity in
the company.
Q: Break Even
Verified Answers Latest Update |
Graded A+
Q: Absolute Cell Reference
Ans: A cell reference that remains constant when a formula is pasted into a
new cell.
Q: Account
Ans: An accounting record in which the results of transactions are
accumulated; shows increases, decreases, and a balance.
Q: Accounting
Ans: A system for providing quantitative, financial information about
economic entities that is useful for making sound economic decisions.
Accounting provides the means of recording and communicating business
activities and the results of those activities.
Q: Accounting Cycle
,Ans: The procedure for analyzing, recording, summarizing, and reporting the
transactions of a business.
Q: Accounting Equation
Ans: An algebraic equation that expresses the relationship between assets
(resources), liabilities (obligations), and owner's equity (net assets, or the
residual interest in a business after all liabilities have been met): Assets =
Liabilities + Owners' Equity.
Q: Accounting System
Ans: The procedures and processes used by a business to analyze
transactions, handle routine bookkeeping tasks, and structure information so
it can be used to evaluate the performance and health of the business.
Q: Activity-based Costing (ABC)
Ans: A method of attributing overhead costs to products based on
measurable factors that relate to activities that create overhead costs.
Q: Actual Manufacturing Overhead
,Ans: Manufacturing costs other than direct materials and direct labor.
Q: American Institute of Certified Public Accountants (AICPA)
Ans: A professional organization for CPAs in which membership is voluntary.
Q: Annual Report
Ans: A document that summarizes the results of operations and financial
status of a company for the past year and outlines future plans.
Q: Applied Manufacturing Overhead
Ans: The amount of the manufacturing overhead that is assigned to the
goods produced. This is usually done by using a predetermined annual
overhead rate.
Q: Arm's-length Transaction
Ans: A transaction in which a buyer and seller act independently to get the
best possible deal.
Q: Articulation
, Ans: The interrelationships among the financial statements.
Q: Assets
Ans: Economic resources that are owned or controlled by a company.
Q: Balance Sheet
Ans: A summary of the financial position of a company at a particular date.
Q: Batch-level Activities
Ans: Activities that take place in order to support a batch or production run,
regardless of the size of the batch.
Q: Book Value
Ans: The value of a company measured by the amount of owner's equity in
the company.
Q: Break Even
