WGU C214 Concepts Only Multi Choice Version A UPDATED QUESTIONS AND CORRECT DETAILED ANSWERSVERIFIED 100% ALREADY GRADED A+BRAND NEW!!

WGU C214 Concepts Only Multi Choice Version A 2026-
2027\UPDATED QUESTIONS AND CORRECT DETAILED
ANSWERS\VERIFIED 100% ALREADY GRADED A+\BRAND
NEW!!



Which of the following is generally true?
a. Gross Profit and Operating Income are the same
b. Cost of Goods Sold + Operating Expenses = Net Income
c. Operating Income and EBIT are the same
d. EBIT + Income Taxes = Net income


c

,Which components are part of total assets?
a. Cash, Accounts Receivable, Short Term Debt
b. Cash Accounts Receivable, Inventory, Long Term Assets
c. Accounts Payable, Long Term Assets, Long Term Debt
d. Accounts Payable, Net Income, Equity


b

,Which components are part of current assets?
a. Cash, Accounts Receivable, Property Plant & Equipment
b. Accounts Receivable, Accounts Payable, Inventory
c. Long Term Debt, Property Plant & Equipment, Common Stock
d. Inventory, Cash, Accounts Receivable, Short Term Investments


d

Which components are part of Total Liabilities?
a. Accounts Payable, Accounts Receivable, Short Term Debt
b. Long Term Debt, Common Stock, Retained Earnings
c. Bonds, Accounts Payable, Mortgage
d. Common Stock, Long Term Debt, Short Term Investments


c

, When Fixed Assets increase what happens to Cash?
a. Cash stays the same
b. Cash increases
c. Cash decreases
d. Assets decrease


c

Which is the purpose of the statement of cash flows?
a. serves as the replacement for the income statement and balance
sheet
b. explains the change in cash balance at one point in time
c. explains the change in cash balance for one period of time
d. both (a) and (b) above


c