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WGU D196 Objective Assessment Final Exam Version
1 Newest Complete All 180 Questions And Correct
Detailed Answers With Rationales (Verified Answers)
|Already Graded A+||Newest Version!!!
1. Which budget should 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 - Answer-c
2. Which account is a common asset account?
A.Accounts payables
B.Equity
C.Accounts receivable
D. Utilities Expense - Answer-c
3 .On which financial statement would you see the
valuation of a company's asset accounts?
a.Statement of Cash Flows
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b.Balance Sheet
c.Income Statement
d.Statement of Retained Earnings - Answer-B
4. What is the final step in the accounting cycle?
a.Summarize the effects of transactions
b.Analyze transactions
c.Prepare reports
d.Record the effects of transactions - Answer-c
5. Which of the following 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 - Answer-d
6. On which financial statement would you see cash flows
from financing activities?
a.Statement of Cash Flows
b.Balance Sheet
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c.Income Statement
d.Statement of Retained Earnings - Answer-d
7. Whose job is it to make sure that investors are provided
with full and fair information about publicly traded
companies?
FASB
AICPA
IASB
SEC - Answer-d
8. How does a classified 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 - Answer-a
9. In some companies, the performance measures for
profit center managers are heavily influenced by cost
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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 - Answer-c
10. Which is an example of a product cost?
a.Non-manufacturing personnel costs
b.Rent Expense
c.Office Supplies
d. Raw materials to make a product - Answer-d
11. Which label is given to the cost of wages for factory
supervisors?
a. Direct labor
WGU D196 Objective Assessment Final Exam Version
1 Newest Complete All 180 Questions And Correct
Detailed Answers With Rationales (Verified Answers)
|Already Graded A+||Newest Version!!!
1. Which budget should 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 - Answer-c
2. Which account is a common asset account?
A.Accounts payables
B.Equity
C.Accounts receivable
D. Utilities Expense - Answer-c
3 .On which financial statement would you see the
valuation of a company's asset accounts?
a.Statement of Cash Flows
,2|Page
b.Balance Sheet
c.Income Statement
d.Statement of Retained Earnings - Answer-B
4. What is the final step in the accounting cycle?
a.Summarize the effects of transactions
b.Analyze transactions
c.Prepare reports
d.Record the effects of transactions - Answer-c
5. Which of the following 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 - Answer-d
6. On which financial statement would you see cash flows
from financing activities?
a.Statement of Cash Flows
b.Balance Sheet
,3|Page
c.Income Statement
d.Statement of Retained Earnings - Answer-d
7. Whose job is it to make sure that investors are provided
with full and fair information about publicly traded
companies?
FASB
AICPA
IASB
SEC - Answer-d
8. How does a classified 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 - Answer-a
9. In some companies, the performance measures for
profit center managers are heavily influenced by cost
, 4|Page
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 - Answer-c
10. Which is an example of a product cost?
a.Non-manufacturing personnel costs
b.Rent Expense
c.Office Supplies
d. Raw materials to make a product - Answer-d
11. Which label is given to the cost of wages for factory
supervisors?
a. Direct labor
