WGU D102 PRE-ASSESSMENT EXAM
2025/2026 QUESTIONS AND ANSWERS
100% PASS
What information is contained in a balance sheet? - ANS Report of a company's financial
position as of a point in time.
What is an owners' equity item? - ANS 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? - ANS $90,000
What is reported in a multiple-step income statement that is not reported in a single-step
income statement? - ANS Gross profit
How is gross profit computed? - ANS 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
1 @COPYRIGHT 2025/2026
, -sales
-inventory
-income tax expense
-accounts payable
Which set is a list of all of the items that are used in computing this company's net income? -
ANS 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? - ANS Financing
Here are some financial statement items for the year for a company.
-Cash received from customers
-Cash received from the sale of land
-Cash paid for dividends
-Cash paid to employees for wages
-Cash paid to purchase a new building
-Cash paid for rent
-Cash received as new investment from owners
Which set of items is a list of items that are used in computing the company's financing cash
flow for the year? - ANS Cash paid for dividends and cash received as new investment from
owners.
Here are some financial statement items for a company.
-Net income
-Cash flow from financing activities
-Cash balance at the beginning of the year
-Sales Cash flow from investing activities
-Accounts receivable
-Retained earnings at the beginning of the year
-Cash flow from operating activities
2 @COPYRIGHT 2025/2026
2025/2026 QUESTIONS AND ANSWERS
100% PASS
What information is contained in a balance sheet? - ANS Report of a company's financial
position as of a point in time.
What is an owners' equity item? - ANS 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? - ANS $90,000
What is reported in a multiple-step income statement that is not reported in a single-step
income statement? - ANS Gross profit
How is gross profit computed? - ANS 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
1 @COPYRIGHT 2025/2026
, -sales
-inventory
-income tax expense
-accounts payable
Which set is a list of all of the items that are used in computing this company's net income? -
ANS 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? - ANS Financing
Here are some financial statement items for the year for a company.
-Cash received from customers
-Cash received from the sale of land
-Cash paid for dividends
-Cash paid to employees for wages
-Cash paid to purchase a new building
-Cash paid for rent
-Cash received as new investment from owners
Which set of items is a list of items that are used in computing the company's financing cash
flow for the year? - ANS Cash paid for dividends and cash received as new investment from
owners.
Here are some financial statement items for a company.
-Net income
-Cash flow from financing activities
-Cash balance at the beginning of the year
-Sales Cash flow from investing activities
-Accounts receivable
-Retained earnings at the beginning of the year
-Cash flow from operating activities
2 @COPYRIGHT 2025/2026
