WGU D196 TEST BANK FOR OA AND
PRE ASSESSMENT REVIEW 2024/2025 WITH
ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS (100% CORRECT ANSWERS) D196
PRACTICE EXAM 2025 (BRAND NEW!!)
Save
Terms in this set (112)
1. Which budget should c
include all production
costs other than those for
direct materials and direct
labor?
A.Sales budget
B.Direct materials budget
C.Manufacturing
overhead budget
D. Production budget
2. Which account is a c
common asset account?
A.Accounts payables
B.Equity
C.Accounts receivable
D. Utilities Expense
,3 .On which financial B
statement would you see
the valuation of a
company's asset
accounts?
a.Statement of Cash Flows
b.Balance Sheet
c.Income Statement
d.Statement of Retained
Earnings
4. What is the final step in c
the accounting cycle?
a.Summarize the effects of
transactions
b.Analyze transactions
c.Prepare reports
d.Record the effects of
transactions
5. Which of the following d
is not an example of a
transaction?
a.Receive cash in payment
of an invoice
b.Purchase an asset from a
supplier
c.Sale on credit to a
customer
d. Preparing financial
statements
,6. On which financial d
statement would you see
cash flows from financing
activities?
a.Statement of Cash Flows
b.Balance Sheet
c.Income Statement
d.Statement of Retained
Earnings
7. Whose job is it to make d
sure that investors are
provided with full and fair
information about publicly
traded companies?
FASB
AICPA
IASB
SEC
8. How does a classified a
balance sheet provide
useful information to a
decision maker?
a.It distinguishes between
current and long-term
assets
b.It provides data that are
not publicly disclosed
c.It distinguishes liabilities
from expenses
D. It provides data for a
period of time instead of
as a point in time
, 9. In some companies, the c
performance measures for
profit center managers are
heavily influenced by cost
allocations downward
from organizational units
(such as company
headquarters). Why is this
a mistake?
a.Controllable costs
should not be included in
the performance
evaluation measure of a
profit center manager
b.Revenues should not be
included in the
performance evaluation
measure of a profit center
manager
c.Uncontrollable costs
should not be included in
the performance
evaluation measure of a
profit center manager
d. Direct costs should not
be included in the
performance evaluation
measure of a profit center
manager
PRE ASSESSMENT REVIEW 2024/2025 WITH
ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS (100% CORRECT ANSWERS) D196
PRACTICE EXAM 2025 (BRAND NEW!!)
Save
Terms in this set (112)
1. Which budget should c
include all production
costs other than those for
direct materials and direct
labor?
A.Sales budget
B.Direct materials budget
C.Manufacturing
overhead budget
D. Production budget
2. Which account is a c
common asset account?
A.Accounts payables
B.Equity
C.Accounts receivable
D. Utilities Expense
,3 .On which financial B
statement would you see
the valuation of a
company's asset
accounts?
a.Statement of Cash Flows
b.Balance Sheet
c.Income Statement
d.Statement of Retained
Earnings
4. What is the final step in c
the accounting cycle?
a.Summarize the effects of
transactions
b.Analyze transactions
c.Prepare reports
d.Record the effects of
transactions
5. Which of the following d
is not an example of a
transaction?
a.Receive cash in payment
of an invoice
b.Purchase an asset from a
supplier
c.Sale on credit to a
customer
d. Preparing financial
statements
,6. On which financial d
statement would you see
cash flows from financing
activities?
a.Statement of Cash Flows
b.Balance Sheet
c.Income Statement
d.Statement of Retained
Earnings
7. Whose job is it to make d
sure that investors are
provided with full and fair
information about publicly
traded companies?
FASB
AICPA
IASB
SEC
8. How does a classified a
balance sheet provide
useful information to a
decision maker?
a.It distinguishes between
current and long-term
assets
b.It provides data that are
not publicly disclosed
c.It distinguishes liabilities
from expenses
D. It provides data for a
period of time instead of
as a point in time
, 9. In some companies, the c
performance measures for
profit center managers are
heavily influenced by cost
allocations downward
from organizational units
(such as company
headquarters). Why is this
a mistake?
a.Controllable costs
should not be included in
the performance
evaluation measure of a
profit center manager
b.Revenues should not be
included in the
performance evaluation
measure of a profit center
manager
c.Uncontrollable costs
should not be included in
the performance
evaluation measure of a
profit center manager
d. Direct costs should not
be included in the
performance evaluation
measure of a profit center
manager
