WGU D196 PRINCIPLES OF FINANCIAL AND MANAGERIAL
ACCOUNTING | PA| PRE-ASSESSMENT
Correct 104
Incorrect
.
Term
A technique for allocating costs A system that tracks costs by
department.
assigns costs to specific jobs
, Don't know?
2 of 104
Term
What is the appropriate situation in which to use process costing?
Give this one a try later!
When a company produces a
large volume of products When a company produces custom
using a series of uniform products in small batches
processes
When a company focuses on
When a company manufactures a
service delivery rather than
diverse range of products
production
Don't know?
3 of 104
Term
What is a profit center?
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An organizational unit in which An organizational unit in which a
a manager has responsibility manager oversees administrative
, for both costs and revenues tasks only
An organizational unit in which a An organizational unit in which a
manager is responsible only for manager is responsible only for
costs revenues
Don't know?
4 of 104
Term
How could a period cost be reported in an income statement?
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As an administrative expense. As cost of goods sold.
As cost of goods manufactured. As manufacturing overhead.
Don't know?
5 of 104
Term
True or False: Revenues decrease owners' equity.
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, Cost of aluminum in making an
True
airplane
Cost of sandpaper in making wood False - revenues increase
furniture owners' equity.
Don't know?
6 of 104
Term
Which items are uncontrollable, external variables that make it
difficult to forecast the level of sales?
Give this one a try later!
Customer tastes and Competitor advertising and
economic conditions company logistics
Supplier pricing and internal Internal production schedules and
marketing strategies employee morale
Don't know?
ACCOUNTING | PA| PRE-ASSESSMENT
Correct 104
Incorrect
.
Term
A technique for allocating costs A system that tracks costs by
department.
assigns costs to specific jobs
, Don't know?
2 of 104
Term
What is the appropriate situation in which to use process costing?
Give this one a try later!
When a company produces a
large volume of products When a company produces custom
using a series of uniform products in small batches
processes
When a company focuses on
When a company manufactures a
service delivery rather than
diverse range of products
production
Don't know?
3 of 104
Term
What is a profit center?
Give this one a try later!
An organizational unit in which An organizational unit in which a
a manager has responsibility manager oversees administrative
, for both costs and revenues tasks only
An organizational unit in which a An organizational unit in which a
manager is responsible only for manager is responsible only for
costs revenues
Don't know?
4 of 104
Term
How could a period cost be reported in an income statement?
Give this one a try later!
As an administrative expense. As cost of goods sold.
As cost of goods manufactured. As manufacturing overhead.
Don't know?
5 of 104
Term
True or False: Revenues decrease owners' equity.
Give this one a try later!
, Cost of aluminum in making an
True
airplane
Cost of sandpaper in making wood False - revenues increase
furniture owners' equity.
Don't know?
6 of 104
Term
Which items are uncontrollable, external variables that make it
difficult to forecast the level of sales?
Give this one a try later!
Customer tastes and Competitor advertising and
economic conditions company logistics
Supplier pricing and internal Internal production schedules and
marketing strategies employee morale
Don't know?
