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WGU D102 Financial Accounting all Terms 2024/2025 Exam Questions and Correct Answers | New Update $11.99
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WGU D102 Financial Accounting all Terms 2024/2025 Exam Questions and Correct Answers | New Update
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  • March 19, 2025
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • wgu d102 financial accounting

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  • WGU D102 Financial Accounting
  • WGU D102 Financial Accounting

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WGU D102 Financial Accounting all
Terms 2024/2025 Exam Questions and
Correct Answers | New Update



account - 🧠 ANSWER ✔✔an accounting record in which the results of

transactions are accumulated; shows increases, decreases, and a balance


accounts receivable - 🧠 ANSWER ✔✔a current asset representing money

due for services performed or merchandise sold on credit


accrual accounting - 🧠 ANSWER ✔✔the process of recording expenses

and revenues when incurred and earned, regardless of when cash is

received, and of adjusting original transaction data into refined measures of

a firm's past economic performance and current economic condition


accrual basis accounting - 🧠 ANSWER ✔✔a system of accounting in which

revenues and expenses are recorded as they are earned and incurred, not

necessarily when cash is received or paid


accumulated depreciation - 🧠 ANSWER ✔✔reflects the wear and tear, or

depreciation, of items since they were originally purchased



COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
1
STATEMENT. ALL RIGHTS RESERVED

,additional paid-in capital - 🧠 ANSWER ✔✔capital invested by stockholders

that exceeds the par value of the issued shares


adjusting entries - 🧠 ANSWER ✔✔entries required at the end of each

accounting period to recognize, on an accrual basis, revenues and

expenses for the period and to report proper amounts for asset, liability,

and owners' equity accounts


allowance method - 🧠 ANSWER ✔✔the recording of estimated losses due

to uncollectible accounts as expenses during the period in which the sales

occurred


allowance for bad debts - 🧠 ANSWER ✔✔a contra account, deducted from

accounts receivable, that shows the estimated losses from uncollectible

accounts


amortization - 🧠 ANSWER ✔✔the process of cost allocation that assigns

the original cost of an intangible asset to the periods benefited


articulatoin - 🧠 ANSWER ✔✔the interrelationship among the financial

statements


assets - 🧠 ANSWER ✔✔economic resources that are owned or controlled

by a company

COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
2
STATEMENT. ALL RIGHTS RESERVED

, audit committee - 🧠 ANSWER ✔✔members of a company's board of

directors who are responsible for dealing with the external and internal

auditors


average costing - 🧠 ANSWER ✔✔an inventory cost flow assumptions

whereby cost of goods sold and the cost of ending inventory are

determined by using an average cost of all merchandise available for sale

during the period


bad debt expense - 🧠 ANSWER ✔✔an account that represents the portion

of the current period's credit sales that are estimated to be uncollectible


bad debts - 🧠 ANSWER ✔✔an uncollecible account receivable


balance sheet - 🧠 ANSWER ✔✔a listing of an organization's assets and of

its liabilities at a certain time


bank reconciliation - 🧠 ANSWER ✔✔the process of systematically

comparing the cash balance as reported by the bank with the cash balance

on the company's books and explaining any differences


board of directors - 🧠 ANSWER ✔✔individuals elected by the stockholders

to govern a corporation



COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED

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