D196 WGU Exam fully solved & updated (latest
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Terms in this set (56)
What is the effect of a The company's accounting information will increase in
company's accounting value.
department maintaining
high ethical standards?
The company can hire
fewer accountants to do
the same amount of work.
The company's accounting
information will decrease
in value.
The company can report
more favorable results in
its financial statements.
The company's accounting
information will increase in
value.
,Why might employees be Financial statement data are often used in determining
interested in their employee bonuses.
company's financial
accounting information?
Financial statement data
are used to record long
term liabilities.
Financial statement data
provide item-by-item
product cost information.
Financial statement data
provide detailed internal
budget information.
Financial statement data
are often used in
determining employee
bonuses.
Which group establishes Financial Accounting Standards Board (FASB)
financial accounting rules
in the United States?
American Institute of
Certified Public
Accountants (AICPA)
Financial Accounting
Standards Board (FASB)
International Accounting
Standards Board (IASB)
Internal Revenue Service
(IRS)
, Which report is one of the Statement of cash flows
three primary financial
statements?
Statement of the
accounting cycle
Statement of management
accounting
Statement of cash flows
Statement of stakeholder
funds
A company paid $5,000 Assets decrease by $5,000; expenses increase by
cash in advertising costs. $5,000.
How does this transaction
affect the paying
company's accounting
equation?
Assets decrease by
$5,000; expenses increase
by $5,000.
Assets increase by $5,000;
expenses increase by
$5,000.
Assets decrease by
$5,000; revenues increase
by $5,000.
Assets decrease by
$5,000; liabilities increase
by $5,000.
version verified for accuracy)
Save
Terms in this set (56)
What is the effect of a The company's accounting information will increase in
company's accounting value.
department maintaining
high ethical standards?
The company can hire
fewer accountants to do
the same amount of work.
The company's accounting
information will decrease
in value.
The company can report
more favorable results in
its financial statements.
The company's accounting
information will increase in
value.
,Why might employees be Financial statement data are often used in determining
interested in their employee bonuses.
company's financial
accounting information?
Financial statement data
are used to record long
term liabilities.
Financial statement data
provide item-by-item
product cost information.
Financial statement data
provide detailed internal
budget information.
Financial statement data
are often used in
determining employee
bonuses.
Which group establishes Financial Accounting Standards Board (FASB)
financial accounting rules
in the United States?
American Institute of
Certified Public
Accountants (AICPA)
Financial Accounting
Standards Board (FASB)
International Accounting
Standards Board (IASB)
Internal Revenue Service
(IRS)
, Which report is one of the Statement of cash flows
three primary financial
statements?
Statement of the
accounting cycle
Statement of management
accounting
Statement of cash flows
Statement of stakeholder
funds
A company paid $5,000 Assets decrease by $5,000; expenses increase by
cash in advertising costs. $5,000.
How does this transaction
affect the paying
company's accounting
equation?
Assets decrease by
$5,000; expenses increase
by $5,000.
Assets increase by $5,000;
expenses increase by
$5,000.
Assets decrease by
$5,000; revenues increase
by $5,000.
Assets decrease by
$5,000; liabilities increase
by $5,000.
