WGU D774 Introduction to Business Accounting | OA (Objective
Assessment) | 91 Questions and Answers | New 2026/2027 Update
Correct
Incorrect
Questions and answers
1 of 91
Definition
Transactions that do not increase or decrease cash but still need to be
disclosed to users of the financial statements.
Give this one a try later!
Multiple Choice Service Business
Equity Transactions Noncash Transactions
Don't know?
2 of 91
,Definition
An act of Congress that created the Securities and Exchange
Commission (SEC) and authorized the SEC to govern secondary
financial markets and the trading of corporate securities sold in the
United States.
Give this one a try later!
Sarbanes-Oxley Act Of 2002 Investment Company Act of 1940
Securities Act of 1933 Securities Act of 1934
Don't know?
3 of 91
Definition
A variance that occurs when the mix of products sold is not as
expected.
Give this one a try later!
Efficiency Variance Mix Variance
Volume Variance Quantity Variance
, Don't know?
4 of 91
Definition
A balance sheet that includes information for both the current year and
preceding year(s) that are prepared for users to identify any significant
changes in particular items.
Give this one a try later!
Liquidity Balance Sheet Classified Balance Sheet
Cash Flow Statement Comparative Balance Sheet
Don't know?
5 of 91
Definition
Costs not directly related to a product, service, or asset.
Give this one a try later!
Period Costs Mixed Costs
, Prime Costs Sunk Costs
Don't know?
6 of 91
Definition
Activities whereby cash is obtained from or repaid to owners and
creditors.
Give this one a try later!
Investing Activities Financing Activities
Operating Activities Expense Activities
Don't know?
7 of 91
Definition
The difference between sales and cost of goods sold; gross profit.
Give this one a try later!
Assessment) | 91 Questions and Answers | New 2026/2027 Update
Correct
Incorrect
Questions and answers
1 of 91
Definition
Transactions that do not increase or decrease cash but still need to be
disclosed to users of the financial statements.
Give this one a try later!
Multiple Choice Service Business
Equity Transactions Noncash Transactions
Don't know?
2 of 91
,Definition
An act of Congress that created the Securities and Exchange
Commission (SEC) and authorized the SEC to govern secondary
financial markets and the trading of corporate securities sold in the
United States.
Give this one a try later!
Sarbanes-Oxley Act Of 2002 Investment Company Act of 1940
Securities Act of 1933 Securities Act of 1934
Don't know?
3 of 91
Definition
A variance that occurs when the mix of products sold is not as
expected.
Give this one a try later!
Efficiency Variance Mix Variance
Volume Variance Quantity Variance
, Don't know?
4 of 91
Definition
A balance sheet that includes information for both the current year and
preceding year(s) that are prepared for users to identify any significant
changes in particular items.
Give this one a try later!
Liquidity Balance Sheet Classified Balance Sheet
Cash Flow Statement Comparative Balance Sheet
Don't know?
5 of 91
Definition
Costs not directly related to a product, service, or asset.
Give this one a try later!
Period Costs Mixed Costs
, Prime Costs Sunk Costs
Don't know?
6 of 91
Definition
Activities whereby cash is obtained from or repaid to owners and
creditors.
Give this one a try later!
Investing Activities Financing Activities
Operating Activities Expense Activities
Don't know?
7 of 91
Definition
The difference between sales and cost of goods sold; gross profit.
Give this one a try later!
