WGU D774 INTRO TO BUSINESS ACCOUNTING
QUESTIONS AND ANSWERS | GRADED A+
CORRECT
INCORRECT
1 of 70
Term
What is one of the characteristics of a corporation?
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No separate taxation of corporate
Ease of transfer of ownership
profits
Absence of government regulation Unlimited liability
Don't know?
2 of 70
Term
,Which item is a source of cash from a financing activity?
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Paying dividends Paying rent
Buying a machine Borrowing money
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3 of 70
Term
In which country was the double-entry accounting system developed
in the 15th century?
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Egypt Italy
Mesopotamia United States
Don't know?
4 of 70
,Term
What is the starting point when using zero-based budgeting?
Give this one a try later!
The amount of each expense is The change in each expense from
zero. last year's amount is zero.
The difference in each expense The difference in each expense
between the actual amount and the between the budgeted amounts for
requested amount is zero. different departments is zero.
Don't know?
5 of 70
Term
Which type of cash collection is an operating activity?
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Collecting cash from stockholders Collecting cash from a bank
Collecting cash from selling an old
Collecting cash from customers
machine
, Don't know?
6 of 70
Term
Why are there no standardized regulations relating to the
production of managerial accounting information?
Give this one a try later!
Company managers can
The regulations in place for financial
generate any information they
accounting are also applied to
want to help them make better
managerial accounting, so no
decisions, so no outside
separate regulation is needed.
regulation is needed.
All companies use the same business Managerial accounting information is
model, so the standard information available from standard government
system software packages create the databases, so separate regulation is
same reports for all companies unnecessary.
Don't know?
QUESTIONS AND ANSWERS | GRADED A+
CORRECT
INCORRECT
1 of 70
Term
What is one of the characteristics of a corporation?
Give this one a try later!
No separate taxation of corporate
Ease of transfer of ownership
profits
Absence of government regulation Unlimited liability
Don't know?
2 of 70
Term
,Which item is a source of cash from a financing activity?
Give this one a try later!
Paying dividends Paying rent
Buying a machine Borrowing money
Don't know?
3 of 70
Term
In which country was the double-entry accounting system developed
in the 15th century?
Give this one a try later!
Egypt Italy
Mesopotamia United States
Don't know?
4 of 70
,Term
What is the starting point when using zero-based budgeting?
Give this one a try later!
The amount of each expense is The change in each expense from
zero. last year's amount is zero.
The difference in each expense The difference in each expense
between the actual amount and the between the budgeted amounts for
requested amount is zero. different departments is zero.
Don't know?
5 of 70
Term
Which type of cash collection is an operating activity?
Give this one a try later!
Collecting cash from stockholders Collecting cash from a bank
Collecting cash from selling an old
Collecting cash from customers
machine
, Don't know?
6 of 70
Term
Why are there no standardized regulations relating to the
production of managerial accounting information?
Give this one a try later!
Company managers can
The regulations in place for financial
generate any information they
accounting are also applied to
want to help them make better
managerial accounting, so no
decisions, so no outside
separate regulation is needed.
regulation is needed.
All companies use the same business Managerial accounting information is
model, so the standard information available from standard government
system software packages create the databases, so separate regulation is
same reports for all companies unnecessary.
Don't know?
