WGU D102 Financial Accounting Final OA
Actual Exam Test Bank 2 Newest 2026-2027 With
Complete 200 Questions And Correct Detailed
Answers| Brand New Version!
Which financial statement provides a detailed explanation of one
component in the year-to-year change in the retained earnings
balance?
Trial balance.
Statement of cash flows.
Income statement.
Balance sheet.
Income statement.
The income statement provides a detailed explanation of net income,
which is one component of the year-to-year change in retained
earnings.
1|Page
,Which financial statement provides a detailed explanation of the year-
to-year change in the cash account balance?
Statement of retained earnings.
Income statement.
Balance sheet.
Statement of cash flows.
Statement of cash flows.
The change in cash during the year is the explained by the sum of the
cash flows from operating, investing, and financing activities as
reported in the statement of cash flows.
What are investing activities?
Activities associated with forecasting sales and overhead costs
Activities that are part of the day-to-day business of a company
Activities associated with buying and selling long-term assets like land,
buildings, and equipment
Activities whereby cash is obtained from or repaid to owners and
creditors
2|Page
,Activities associated with buying and selling long-term assets like land,
buildings, and equipment
Here are some financial statement items for Sparkit Company.
Cash flow from investing activities during the year
Retained earnings at the beginning of the year
Cash flow from operating activities during the year
Net income for the year
Cash flow from financing activities during the year
Cash balance at the beginning of the year
Which items are needed to compute Sparkit's ending cash balance for
the year?
Retained earnings at the beginning of the year, cash flow from
operating activities during the year, cash flow from investing activities
during the year, and cash flow from financing activities during the year
Cash balance at the beginning of the year, cash flow from operating
activities during the year, cash flow from investing activities during the
year, and cash flow from financing activities during the year
3|Page
, Cash balance at the beginning of the year, net income during the year,
cash flow from investing activities during the year, and retained
earnings at the beginning of the year
Net income for the year, cash flow from operating activities during the
year, cash flow from investing activities during the year, and cash flow
from financing activities during the year
Cash balance at the beginning of the year, cash flow from operating
activities during the year, cash flow from investing activities during the
year, and cash flow from financing activities during the year
Bullzai Inc. has recently taken part in the following business
transactions:
Borrowed cash from a bank.
Purchased a building.
Sold an old, used machine.
Collected cash from customers.
Which of these items is a source of cash from an investing activity?
4|Page
Actual Exam Test Bank 2 Newest 2026-2027 With
Complete 200 Questions And Correct Detailed
Answers| Brand New Version!
Which financial statement provides a detailed explanation of one
component in the year-to-year change in the retained earnings
balance?
Trial balance.
Statement of cash flows.
Income statement.
Balance sheet.
Income statement.
The income statement provides a detailed explanation of net income,
which is one component of the year-to-year change in retained
earnings.
1|Page
,Which financial statement provides a detailed explanation of the year-
to-year change in the cash account balance?
Statement of retained earnings.
Income statement.
Balance sheet.
Statement of cash flows.
Statement of cash flows.
The change in cash during the year is the explained by the sum of the
cash flows from operating, investing, and financing activities as
reported in the statement of cash flows.
What are investing activities?
Activities associated with forecasting sales and overhead costs
Activities that are part of the day-to-day business of a company
Activities associated with buying and selling long-term assets like land,
buildings, and equipment
Activities whereby cash is obtained from or repaid to owners and
creditors
2|Page
,Activities associated with buying and selling long-term assets like land,
buildings, and equipment
Here are some financial statement items for Sparkit Company.
Cash flow from investing activities during the year
Retained earnings at the beginning of the year
Cash flow from operating activities during the year
Net income for the year
Cash flow from financing activities during the year
Cash balance at the beginning of the year
Which items are needed to compute Sparkit's ending cash balance for
the year?
Retained earnings at the beginning of the year, cash flow from
operating activities during the year, cash flow from investing activities
during the year, and cash flow from financing activities during the year
Cash balance at the beginning of the year, cash flow from operating
activities during the year, cash flow from investing activities during the
year, and cash flow from financing activities during the year
3|Page
, Cash balance at the beginning of the year, net income during the year,
cash flow from investing activities during the year, and retained
earnings at the beginning of the year
Net income for the year, cash flow from operating activities during the
year, cash flow from investing activities during the year, and cash flow
from financing activities during the year
Cash balance at the beginning of the year, cash flow from operating
activities during the year, cash flow from investing activities during the
year, and cash flow from financing activities during the year
Bullzai Inc. has recently taken part in the following business
transactions:
Borrowed cash from a bank.
Purchased a building.
Sold an old, used machine.
Collected cash from customers.
Which of these items is a source of cash from an investing activity?
4|Page
