WGU D102 | OA | OBJECTIVE ASSESSMENT |
QUESTIONS AND ANSWERS | GRADED A+
Correct 79
Incorrect 00
Copyright
, 2 of 79
Definition
last in first out
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FIFO WEIGHTED AVERAGE
LIFO NONE OF THESE
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3 of 79
Definition
Is what you receive in exchange for what you're in the business to do
everyday.
Sales, Services, Interest, Other....
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Assets None Of These
, Revenue Expenses
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4 of 79
Definition
Two ten, net end-of-month
2% discount if paid within 10 days, otherwise net amount due by end-
of-month
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2/10, n/EOM 2/10, n/15
2/10, n/45 5/10, n/eom
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5 of 79
Definition
1. Unrecorded Receivables
2. Unrecorded Liabilities
, 3. Prepaid Expenses
4. Unearned Revenues
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4 types of adjusting entries Long-term Investments
single-step income statement additional paid-in capital
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6 of 79
Definition
Paid less that a year
Interest-bearing
Common names
-Short-term Loans Payable
-Short-term Notes Payable
-Short-term Borrowings
(lesson 3 video)
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Short-term Loans Payable Long-term Liabilities
QUESTIONS AND ANSWERS | GRADED A+
Correct 79
Incorrect 00
Copyright
, 2 of 79
Definition
last in first out
Give this one a try later!
FIFO WEIGHTED AVERAGE
LIFO NONE OF THESE
Don't know?
3 of 79
Definition
Is what you receive in exchange for what you're in the business to do
everyday.
Sales, Services, Interest, Other....
Give this one a try later!
Assets None Of These
, Revenue Expenses
Don't know?
4 of 79
Definition
Two ten, net end-of-month
2% discount if paid within 10 days, otherwise net amount due by end-
of-month
Give this one a try later!
2/10, n/EOM 2/10, n/15
2/10, n/45 5/10, n/eom
Don't know?
5 of 79
Definition
1. Unrecorded Receivables
2. Unrecorded Liabilities
, 3. Prepaid Expenses
4. Unearned Revenues
Give this one a try later!
4 types of adjusting entries Long-term Investments
single-step income statement additional paid-in capital
Don't know?
6 of 79
Definition
Paid less that a year
Interest-bearing
Common names
-Short-term Loans Payable
-Short-term Notes Payable
-Short-term Borrowings
(lesson 3 video)
Give this one a try later!
Short-term Loans Payable Long-term Liabilities
