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D774 Intro to Business Accounting (WGU) WITH ACTUAL QUESTIONS AND SOLUTIONS.. SECTION 2

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D774 Intro to Business Accounting (WGU) WITH ACTUAL QUESTIONS AND SOLUTIONS.. SECTION 2

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WGU - D774 Pre-assessment with actual
solutions

, Ancient Mesopotamia - correct ans:Which ancient civilization dates to the
early development of accounting?

1929 - correct ans:Which year is associated with the stock market crash?

Sarbanes-Oxley Act - correct ans:Regulatory outcome of
Enron/WorldCom/Tyco scandals?

Financial accounting - correct ans:External reporting

Managerial accounting - correct ans:Internal decision-making

Focus of managerial accounting - correct ans:Improving future results using
past performance

Financial accounting characteristic for annual reports - correct ans:Includes
monetary & nonmonetary information

SEC - correct ans:Which federal agency oversees stock market filings?

FASB - correct ans:Organization that sets GAAP standards?

PCAOB - correct ans:Purpose of PCAOB?

Big Four - correct ans:Best audit firm type for a multinational public
company?

Income statement formula - correct ans:Revenues − Expenses

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Uploaded on: September 26, 2026
Number of pages: 8
Written in: 2026/2027
Type: Exam (elaborations)
Contains: Questions & answers

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