WGU D076 Finance Skills for Managers
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UNIT 2: OVERVIEW OF FINANCE (Questions 1–20)
Competency: Introduction to Finance and Financial
Management
1. Which of the following best defines finance?
A) The system of recording, reporting, and summarizing
past financial information
B) The study of fund management and asset allocation
over time
,C) The process of marketing products and services to
customers
D) The management of human resources within an
organization
Answer: B — Finance is the study of fund management
and asset allocation over time. It is forward-looking and
focuses on the future, unlike accounting which is
backward-looking.
2. What are the three main areas of finance?
A) Managerial accounting, financial accounting, and cost
analysis
B) Financial institutions, investments, and financial
management
C) Accounting principles, supply and demand, and
marginal productivity
D) Trade, production, and management theories
,Answer: B — The three main areas of finance are
financial institutions, investments, and financial
management.
3. What is the primary goal of the financial manager
of a firm?
A) To maximize the manager's personal utility
B) To maximize owner wealth
C) To minimize the asset holdings of the firm
D) To maximize employee satisfaction
Answer: B — The primary goal of the financial manager
is to maximize owner (shareholder) wealth.
4. Which of the following is a key difference between
finance and accounting?
, A) Finance is backward-looking, while accounting is
forward-looking
B) Accounting is forward-looking, while finance is
backward-looking
C) Finance is forward-looking, while accounting is
backward-looking
D) There is no difference between finance and
accounting
Answer: C — Finance is forward-looking and focuses on
the future, while accounting is backward-looking and
focuses on recording past transactions.
5. Which of the following is NOT one of the three
main tasks of a financial manager?
A) Making investment decisions
B) Making financing decisions
Complete Actual Exam Questions With
Complete Solutions Latest 2026 Instant
Pdf Download
UNIT 2: OVERVIEW OF FINANCE (Questions 1–20)
Competency: Introduction to Finance and Financial
Management
1. Which of the following best defines finance?
A) The system of recording, reporting, and summarizing
past financial information
B) The study of fund management and asset allocation
over time
,C) The process of marketing products and services to
customers
D) The management of human resources within an
organization
Answer: B — Finance is the study of fund management
and asset allocation over time. It is forward-looking and
focuses on the future, unlike accounting which is
backward-looking.
2. What are the three main areas of finance?
A) Managerial accounting, financial accounting, and cost
analysis
B) Financial institutions, investments, and financial
management
C) Accounting principles, supply and demand, and
marginal productivity
D) Trade, production, and management theories
,Answer: B — The three main areas of finance are
financial institutions, investments, and financial
management.
3. What is the primary goal of the financial manager
of a firm?
A) To maximize the manager's personal utility
B) To maximize owner wealth
C) To minimize the asset holdings of the firm
D) To maximize employee satisfaction
Answer: B — The primary goal of the financial manager
is to maximize owner (shareholder) wealth.
4. Which of the following is a key difference between
finance and accounting?
, A) Finance is backward-looking, while accounting is
forward-looking
B) Accounting is forward-looking, while finance is
backward-looking
C) Finance is forward-looking, while accounting is
backward-looking
D) There is no difference between finance and
accounting
Answer: C — Finance is forward-looking and focuses on
the future, while accounting is backward-looking and
focuses on recording past transactions.
5. Which of the following is NOT one of the three
main tasks of a financial manager?
A) Making investment decisions
B) Making financing decisions
