WGU D103 INTERMEDIATE
ACCOUNTING I UNIT 2-4 EXAM
WGU D103 INTERMEDIATE ACCOUNTING I UNIT 2-4 EXAM WITH GUARANTEED
ACCURATE ANSWERS
APB Opinions - ACCURATE ANSWERS✔✔ The APB's official
pronouncements issued from 1959 through 1973 which were intended to
be based mainly on research studies and be supported by reasons and
analysis.
Accounting Principles Board (APB) - ACCURATE ANSWERS✔✔ An
accounting rule-making board which provided official pronouncements,
called APB Opinions, from 1959 through 1973.
Accounting Research Bulletins - ACCURATE ANSWERS✔✔
Pronouncements issued by CAP dealing with a variety of timely
accounting problems during the years 1939 to 1959.
,Accrued Expenses - ACCURATE ANSWERS✔✔ Expenses incurred
but not yet paid.
Accrued Revenues - ACCURATE ANSWERS✔✔ Revenues for which
the performance obligation has been satisfied, but for which cash has not
yet been received.
Adjusted Trial Balance - ACCURATE ANSWERS✔✔ A trial balance
prepared immediately after all adjustments have been posted.
Adjusting Entries - ACCURATE ANSWERS✔✔ Entries made at the
end of an accounting period to bring all accounts up to date on an
accrual accounting basis.
American Institute of Certified Public Accountants (AICPA) -
ACCURATE ANSWERS✔✔ The national professional organization of
practicing Certified Public Accountants.
Book Value - ACCURATE ANSWERS✔✔ The difference between the
cost of an asset and its related accumulated depreciation.
Closing Process - ACCURATE ANSWERS✔✔ The formal process by
which all nominal accounts are reduced to zero to prepare the accounts
for the next period's transactions.
, Committee On Accounting Procedure (CAP) - ACCURATE
ANSWERS✔✔ An organization composed of practicing CPAs which
issued Accounting Research Bulletins dealing with a variety of
accounting problems during the years 1939 to 1959.
Comparability - ACCURATE ANSWERS✔✔ Ability to compare
accounting information of different companies because they measure
and report information in a similar manner.
Completeness - ACCURATE ANSWERS✔✔ All information necessary
for faithful representation is provided.
Conceptual Framework - ACCURATE ANSWERS✔✔ A coherent
system of interrelated objectives and fundamentals that can lead to
consistent standards.
Confirmatory Value - ACCURATE ANSWERS✔✔ Information that
confirms or corrects prior expectations.
Consistency - ACCURATE ANSWERS✔✔ An entity applies the same
accounting treatment to similar events from period to period.
Contra Asset Account - ACCURATE ANSWERS✔✔ An account that
offsets an asset account on the balance sheet.
ACCOUNTING I UNIT 2-4 EXAM
WGU D103 INTERMEDIATE ACCOUNTING I UNIT 2-4 EXAM WITH GUARANTEED
ACCURATE ANSWERS
APB Opinions - ACCURATE ANSWERS✔✔ The APB's official
pronouncements issued from 1959 through 1973 which were intended to
be based mainly on research studies and be supported by reasons and
analysis.
Accounting Principles Board (APB) - ACCURATE ANSWERS✔✔ An
accounting rule-making board which provided official pronouncements,
called APB Opinions, from 1959 through 1973.
Accounting Research Bulletins - ACCURATE ANSWERS✔✔
Pronouncements issued by CAP dealing with a variety of timely
accounting problems during the years 1939 to 1959.
,Accrued Expenses - ACCURATE ANSWERS✔✔ Expenses incurred
but not yet paid.
Accrued Revenues - ACCURATE ANSWERS✔✔ Revenues for which
the performance obligation has been satisfied, but for which cash has not
yet been received.
Adjusted Trial Balance - ACCURATE ANSWERS✔✔ A trial balance
prepared immediately after all adjustments have been posted.
Adjusting Entries - ACCURATE ANSWERS✔✔ Entries made at the
end of an accounting period to bring all accounts up to date on an
accrual accounting basis.
American Institute of Certified Public Accountants (AICPA) -
ACCURATE ANSWERS✔✔ The national professional organization of
practicing Certified Public Accountants.
Book Value - ACCURATE ANSWERS✔✔ The difference between the
cost of an asset and its related accumulated depreciation.
Closing Process - ACCURATE ANSWERS✔✔ The formal process by
which all nominal accounts are reduced to zero to prepare the accounts
for the next period's transactions.
, Committee On Accounting Procedure (CAP) - ACCURATE
ANSWERS✔✔ An organization composed of practicing CPAs which
issued Accounting Research Bulletins dealing with a variety of
accounting problems during the years 1939 to 1959.
Comparability - ACCURATE ANSWERS✔✔ Ability to compare
accounting information of different companies because they measure
and report information in a similar manner.
Completeness - ACCURATE ANSWERS✔✔ All information necessary
for faithful representation is provided.
Conceptual Framework - ACCURATE ANSWERS✔✔ A coherent
system of interrelated objectives and fundamentals that can lead to
consistent standards.
Confirmatory Value - ACCURATE ANSWERS✔✔ Information that
confirms or corrects prior expectations.
Consistency - ACCURATE ANSWERS✔✔ An entity applies the same
accounting treatment to similar events from period to period.
Contra Asset Account - ACCURATE ANSWERS✔✔ An account that
offsets an asset account on the balance sheet.
