WGU C214 MULTIPLE ATTEMPT STUDY
GUIDE QUESTIONS WITH CORRECT
ANSWERS 2026
What Lstandards Lare Lused Lto Lhelp LUS Linvestors Lunderstand Land Lcompare Lforeign Lfinancial
Lstatements Lto Ldomestic Lfinancial Lstatements? L- LCORRECT LANSWER L-International LFinancial
LReporting LStandards
When La Lcompany Lis Loptimizing Lits Lresources Land Lmaintaining Lor Limproving Lproductivity, Lthey
Lare Lenga Lging Lin Lwhat Lhypothesis L- LCORRECT LANSWER L-Efficient LMarket LHypothesis
What L is L the L basic L type L of L negotiable L debt? L - L CORRECT L ANSWER L -Bonds
What Lis Lthe Lcharacteristic Lof La Lstock Lsold Lin Lthe Lsecondary Lmarkets? L- LCORRECT
LANSWER L- L Stocks Lsold Lin Lthe Lsecondary Lmarkets Lare Ltraded Lafter Lthe Linitial
Loffering.
If La Lcompany Lis Lengaged Lin Llobbying Lfor Ltariffs Land Ltrade Lrestrictions, Lif Lthey Lare Lsuccessful,
Lwhat Lare Lt L he Ltwo Lprincipal Limpacts? L- LCORRECT LANSWER L-
Protection L for L the L lobbyist L and L higher L prices L for L the L consumer L pre L reduced L competition.
Describe L what L an L income L statement L is L in L one L sentence? L - L CORRECT L ANSWER L -
It L covers L a L period L of L time L and L starts L with L sales, L takes L out L expenses, L and L ends L with L net
L income.
What L is L the L difference L between L taxable L income L and L accounting L income? L - L CORRECT L ANSWER L -
Accounting Lincome Lis Lreported Las Lnet Lincome Lon Lthe Lincome Lstatement Lwhereas LTaxable
Lincome Lis Lus Led Lto Ldetermine Lthe Lamount Lof Ltax La Lfirm Lmust Lpay.
Net L Income L 15,000
, Depreciation L Exp L 2,000
Change Lin LOperating LAssets L1,200
LChange Lin LPP&E L2,000
Change Lin Llong-term Lliab. L1,200
LDividends Lpaid L1,500
What Lis Lthe LCash LFlow Lfrom LFinancing? L- LCORRECT LANSWER L-CFF= LIncr LStock L+ LIncr
LDebt L- L Dividends LPaid
GUIDE QUESTIONS WITH CORRECT
ANSWERS 2026
What Lstandards Lare Lused Lto Lhelp LUS Linvestors Lunderstand Land Lcompare Lforeign Lfinancial
Lstatements Lto Ldomestic Lfinancial Lstatements? L- LCORRECT LANSWER L-International LFinancial
LReporting LStandards
When La Lcompany Lis Loptimizing Lits Lresources Land Lmaintaining Lor Limproving Lproductivity, Lthey
Lare Lenga Lging Lin Lwhat Lhypothesis L- LCORRECT LANSWER L-Efficient LMarket LHypothesis
What L is L the L basic L type L of L negotiable L debt? L - L CORRECT L ANSWER L -Bonds
What Lis Lthe Lcharacteristic Lof La Lstock Lsold Lin Lthe Lsecondary Lmarkets? L- LCORRECT
LANSWER L- L Stocks Lsold Lin Lthe Lsecondary Lmarkets Lare Ltraded Lafter Lthe Linitial
Loffering.
If La Lcompany Lis Lengaged Lin Llobbying Lfor Ltariffs Land Ltrade Lrestrictions, Lif Lthey Lare Lsuccessful,
Lwhat Lare Lt L he Ltwo Lprincipal Limpacts? L- LCORRECT LANSWER L-
Protection L for L the L lobbyist L and L higher L prices L for L the L consumer L pre L reduced L competition.
Describe L what L an L income L statement L is L in L one L sentence? L - L CORRECT L ANSWER L -
It L covers L a L period L of L time L and L starts L with L sales, L takes L out L expenses, L and L ends L with L net
L income.
What L is L the L difference L between L taxable L income L and L accounting L income? L - L CORRECT L ANSWER L -
Accounting Lincome Lis Lreported Las Lnet Lincome Lon Lthe Lincome Lstatement Lwhereas LTaxable
Lincome Lis Lus Led Lto Ldetermine Lthe Lamount Lof Ltax La Lfirm Lmust Lpay.
Net L Income L 15,000
, Depreciation L Exp L 2,000
Change Lin LOperating LAssets L1,200
LChange Lin LPP&E L2,000
Change Lin Llong-term Lliab. L1,200
LDividends Lpaid L1,500
What Lis Lthe LCash LFlow Lfrom LFinancing? L- LCORRECT LANSWER L-CFF= LIncr LStock L+ LIncr
LDebt L- L Dividends LPaid
