WGU C213: Accounting for Decision Makers PVAC |PA| Pre-
Assessment Exam
Correct
Incorrect
1 of 74
Term
Which two actions do internal auditors perform to assist in maintaining
the integrity of financial statements?
Choose 2 answers
Give this one a try later!
They search for and investigate
They manage external audit
fraud. They review financial
processes.
records and internal controls.
They prepare tax returns and filings. They develop marketing strategies.
Don't know?
, 2 of 74
Term
Which account is seen on the balance sheet of a manufacturing
company but not on the balance sheet of a service-oriented
company?
Give this one a try later!
Cash Inventory
Land Equipment
Don't know?
3 of 74
Definition
Information having to do with the matter at hand
Give this one a try later!
Relevant Complete
Timely Irrelevant
, Don't know?
4 of 74
Term
A company's statement of cash flows includes the following cash
transactions:
Sales 1,250,000
Inventory Purchase -750,000
Property and Equipment Purchase -270,000
Interest Payment on Long-Term Debt -25,000
Payment of Wages -315,000
Payment of Rent -40,000
Borrowing Long-Term Debt 200,000
Payment of Cash Dividends -15,000
Repurchase of Treasury Stock -40,000
Total Cash Flows -5,000
Assuming the company uses US GAAP standards, what is the total cash
flow from financing activities?
Give this one a try later!
$158,000 $145,000
, $130,000 $135,000
Don't know?
5 of 74
Term
Which form of debt should be reported in the long-term liability
category?
Give this one a try later!
Notes payable expected to be
Notes payable due in 3 months
paid in 18 months
Accounts payable expected to be Short-term loans to be repaid within
paid in 6 months a year
Don't know?
6 of 74
Term
What does it mean if a company has a debt ratio of 101.5%?
Give this one a try later!
Assessment Exam
Correct
Incorrect
1 of 74
Term
Which two actions do internal auditors perform to assist in maintaining
the integrity of financial statements?
Choose 2 answers
Give this one a try later!
They search for and investigate
They manage external audit
fraud. They review financial
processes.
records and internal controls.
They prepare tax returns and filings. They develop marketing strategies.
Don't know?
, 2 of 74
Term
Which account is seen on the balance sheet of a manufacturing
company but not on the balance sheet of a service-oriented
company?
Give this one a try later!
Cash Inventory
Land Equipment
Don't know?
3 of 74
Definition
Information having to do with the matter at hand
Give this one a try later!
Relevant Complete
Timely Irrelevant
, Don't know?
4 of 74
Term
A company's statement of cash flows includes the following cash
transactions:
Sales 1,250,000
Inventory Purchase -750,000
Property and Equipment Purchase -270,000
Interest Payment on Long-Term Debt -25,000
Payment of Wages -315,000
Payment of Rent -40,000
Borrowing Long-Term Debt 200,000
Payment of Cash Dividends -15,000
Repurchase of Treasury Stock -40,000
Total Cash Flows -5,000
Assuming the company uses US GAAP standards, what is the total cash
flow from financing activities?
Give this one a try later!
$158,000 $145,000
, $130,000 $135,000
Don't know?
5 of 74
Term
Which form of debt should be reported in the long-term liability
category?
Give this one a try later!
Notes payable expected to be
Notes payable due in 3 months
paid in 18 months
Accounts payable expected to be Short-term loans to be repaid within
paid in 6 months a year
Don't know?
6 of 74
Term
What does it mean if a company has a debt ratio of 101.5%?
Give this one a try later!
