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WGU D774 INTRO TO BUSINESS ACCOUNTING OA OBJECTIVE ASSESSMENT ELITE REVIEW STUDY GUIDE WITH COMPLETE QUESTIONS AND ANSWERS 2026

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WGU D774 INTRO TO BUSINESS ACCOUNTING OA OBJECTIVE ASSESSMENT ELITE REVIEW STUDY GUIDE WITH COMPLETE QUESTIONS AND ANSWERS 2026

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WGU D774 INTRO TO BUSINESS ACCOUNTING OA OBJECTIVE
Course
WGU D774 INTRO TO BUSINESS ACCOUNTING OA OBJECTIVE

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WGU D774 INTRO TO BUSINESS
ACCOUNTING OA OBJECTIVE ASSESSMENT
ELITE REVIEW STUDY GUIDE WITH
COMPLETE QUESTIONS AND ANSWERS
2026

‣ What is the primary purpose of accounting? Answer: To provide
financial information useful in decision-making.


‣ Who are the internal users of accounting information? Answer:
Managers, executives, supervisors, and employees.


‣ Who are the external users of accounting information? Answer:
Investors, creditors, government agencies, suppliers, and customers.


‣ What is the accounting equation? Answer: Assets = Liabilities +
Owner's Equity


‣ What type of business is owned by one person and offers no liability
protection? Answer: Sole proprietorship.


‣ What is the key characteristic of a corporation? Answer: It is a separate
legal entity with limited liability for its owners.
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WGU D774 INTRO TO BUSINESS ACCOUNTING OA OBJECTIVE
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