WGU DO74 PRINCIPLES OF ACCOUNTING

WGU DO74 PRINCIPLES OF ACCOUNTING with questions and well verified answers graded A+ One activity most businesses have in common is the acquisition of resources. Which example is an external transaction where a business is acquiring a resource? A: Purchasing new equipment from a manufacturer B: Announcing the closing of a manufacturing facility C: Announcing the development of a new product D: Transferring money in a company's budget from one department to another A: Purchasing new equipment from a manufacturer This is an example of an external transaction and helps the company acquire resources. Which account is an example of an asset? A: Unearned revenue B: Accounts receivable C: Accounts payable D: Retained earnings B: Accounts receivable Accounts receivable is an asset account. Brainpower Read More Which statement describes the role of ethics in accounting? A: Accountants have a moral incentive to conduct themselves ethically. B: Accountants are rarely presented with ethical dilemmas in their daily work. C: Ethics is not as important in accounting as it is in other areas of business. D: Accounting decisions do not impact real-world economic decisions. A: Accountants have a moral incentive to conduct themselves ethically. Accountants are trusted to provide reliable and trustworthy financial information. Which statement below describes why you should stud