WGU D196- Principles of Financial and Managerial
Accounting |OA| Objective Assessment| Actual
Questions and Answers Latest Updated
(Graded A+)
Correct 86
Incorrect 0
D196- Principles of Financial and Managerial Accounting |OA
, International Accounting Standards International Financial Reporting
Board (IASB) Standards (IFRS).
Governmental Accounting
American Institute Of CPAs (AICPA).
Standards Board (GASB)
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2 of 86
Term
American Institute of Certified Public Accountants (AICPA)
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Reports The Amount Of Net Income
Earned By A Company During A Provides CPA Certifications
Period.
Reports The Amount Of Cash
Collected And Paid Out By A
Oversees All Accounting Firms
Company In Operating, Investing,
And Financing Activities.
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,Definition
an INCREASE in a company's resources through a normal business
transaction
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Expense Revenue
None Of These Liability
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Definition
reports the amount of net income earned by a company during a
period, with annual and quarterly income statements being the most
common. (Net income is discussed later on.) The income statement
represents the accountant's best effort at measuring the economic
performance of a company.
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Statement Cash Flows None Of These
, Retained Earnings Statement Income Statement
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5 of 86
Term
Why do the notes to the financial statements contain additional
information about summary totals?
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Because the notes are required by
Because the notes provide a detailed
law to be included in all financial
history of the company's founding
statements
Because one summary number
in the financial statements Because the notes summarize the
represents literally thousands of company's marketing strategies
individual items
Don't know?
6 of 86
Term
Accounting |OA| Objective Assessment| Actual
Questions and Answers Latest Updated
(Graded A+)
Correct 86
Incorrect 0
D196- Principles of Financial and Managerial Accounting |OA
, International Accounting Standards International Financial Reporting
Board (IASB) Standards (IFRS).
Governmental Accounting
American Institute Of CPAs (AICPA).
Standards Board (GASB)
Don't know?
2 of 86
Term
American Institute of Certified Public Accountants (AICPA)
Give this one a try later!
Reports The Amount Of Net Income
Earned By A Company During A Provides CPA Certifications
Period.
Reports The Amount Of Cash
Collected And Paid Out By A
Oversees All Accounting Firms
Company In Operating, Investing,
And Financing Activities.
Don't know?
3 of 86
,Definition
an INCREASE in a company's resources through a normal business
transaction
Give this one a try later!
Expense Revenue
None Of These Liability
Don't know?
4 of 86
Definition
reports the amount of net income earned by a company during a
period, with annual and quarterly income statements being the most
common. (Net income is discussed later on.) The income statement
represents the accountant's best effort at measuring the economic
performance of a company.
Give this one a try later!
Statement Cash Flows None Of These
, Retained Earnings Statement Income Statement
Don't know?
5 of 86
Term
Why do the notes to the financial statements contain additional
information about summary totals?
Give this one a try later!
Because the notes are required by
Because the notes provide a detailed
law to be included in all financial
history of the company's founding
statements
Because one summary number
in the financial statements Because the notes summarize the
represents literally thousands of company's marketing strategies
individual items
Don't know?
6 of 86
Term
