WGU D102 Pre Assesment 2024/2025
Exam Questions and Answers 100%
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What information is contained in a balance sheet?
Report of a company's financial position during a period of time.
Report of a company's operating performance as of a point in time.
Report of a company's financial position as of a point in time.
Report of a company's operating performance during a period of time. - 🧠
ANSWER ✔✔Report of a company's financial position as of a point in time.
What is an owners' equity item?
Loans payable
Accounts receivable
Capital stock
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
,Cash - 🧠 ANSWER ✔✔Capital stock
A company ended July with assets of $150,000 and owner's equity of
$60,000.
What is the amount of liabilities at the end of July?
$60,000
$90,000
$150,000
$300,000 - 🧠 ANSWER ✔✔$90,000
What is reported in a multiple-step income statement that is not reported in
a single-step income statement?
Gross profit
Dividends
Retained earnings
Cash collected from customers - 🧠 ANSWER ✔✔Gross profit
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
,How is gross profit computed?
Sales minus cost of goods sold.
Sales minus operating expenses.
Cash minus dividends.
Total revenues minus total expenses. - 🧠 ANSWER ✔✔Sales minus cost of
goods sold.
The following are some accounts from a company's financial statements:
-accounts receivable
-cost of goods sold
-cash
-retained earnings
-sales
-inventory
-income tax expense
-accounts payable
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
, Which set is a list of all of the items that are used in computing this
company's net income?
Cash, accounts receivable, and accounts payable.
Cash, retained earnings, and accounts payable.
Sales, cost of goods sold, and income tax expense.
Inventory, accounts payable, and retained earnings. - 🧠 ANSWER
✔✔Sales, cost of goods sold, and income tax expense.
What cash flow category contains activities whereby cash is obtained from
or repaid to owners or creditors?
Financing
Investing
Equity
Revenue - 🧠 ANSWER ✔✔Financing
Here are some financial statement items for the year for a company.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
Exam Questions and Answers 100%
Guaranteed Success | Already Rated A+
What information is contained in a balance sheet?
Report of a company's financial position during a period of time.
Report of a company's operating performance as of a point in time.
Report of a company's financial position as of a point in time.
Report of a company's operating performance during a period of time. - 🧠
ANSWER ✔✔Report of a company's financial position as of a point in time.
What is an owners' equity item?
Loans payable
Accounts receivable
Capital stock
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
1
STATEMENT. ALL RIGHTS RESERVED
,Cash - 🧠 ANSWER ✔✔Capital stock
A company ended July with assets of $150,000 and owner's equity of
$60,000.
What is the amount of liabilities at the end of July?
$60,000
$90,000
$150,000
$300,000 - 🧠 ANSWER ✔✔$90,000
What is reported in a multiple-step income statement that is not reported in
a single-step income statement?
Gross profit
Dividends
Retained earnings
Cash collected from customers - 🧠 ANSWER ✔✔Gross profit
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
,How is gross profit computed?
Sales minus cost of goods sold.
Sales minus operating expenses.
Cash minus dividends.
Total revenues minus total expenses. - 🧠 ANSWER ✔✔Sales minus cost of
goods sold.
The following are some accounts from a company's financial statements:
-accounts receivable
-cost of goods sold
-cash
-retained earnings
-sales
-inventory
-income tax expense
-accounts payable
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED
, Which set is a list of all of the items that are used in computing this
company's net income?
Cash, accounts receivable, and accounts payable.
Cash, retained earnings, and accounts payable.
Sales, cost of goods sold, and income tax expense.
Inventory, accounts payable, and retained earnings. - 🧠 ANSWER
✔✔Sales, cost of goods sold, and income tax expense.
What cash flow category contains activities whereby cash is obtained from
or repaid to owners or creditors?
Financing
Investing
Equity
Revenue - 🧠 ANSWER ✔✔Financing
Here are some financial statement items for the year for a company.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
