WGU D104
INTERMEDIATE ACCOUNTING II
Comprehensive Assessment (Focus)
UPDATE
50 Multiple-Choice Questions
Complete Answers with Explained Rationales
Aligned with Intermediate Accounting Standards
WGU | Intermediate Accounting II (D104)
Bonds • Leases • Pensions • Equity • Investments • Income Taxes
For academic study and exam review • Verify with current WGU course materials
, WGU D104 | Comprehensive Assessment | 2026/2027 UPDATE
How to Use This Review
This comprehensive exam review contains high-yield multiple-choice questions covering the core topics of WGU D104
Intermediate Accounting II. Each item is followed by the correct answer and rationales that explain the underlying accounting
principle or calculation, why the correct option is preferred, and why the distractors are incorrect. Topics include bonds payable,
leases, pensions, stockholders’ equity, investments, income taxes, and statement of cash flows. Study tip: Attempt each
question before reading the answer. Then carefully review the rationale.
Topic Index (Selected High-Yield Areas)
• Bonds: issued at premium/discount; effective-interest method
• Leases: finance vs operating; lessee and lessor accounting
• Pensions: defined benefit plans; OCI and funded status
• Stockholders’ equity: treasury stock, retained earnings, EPS
• Investments: debt and equity securities; fair value hierarchy
• Income taxes: temporary differences, deferred tax assets/liabilities
• Statement of cash flows: operating, investing, financing
• Revenue recognition and complex financial instruments
• Error corrections and changes in accounting estimates/principles
Page 2
INTERMEDIATE ACCOUNTING II
Comprehensive Assessment (Focus)
UPDATE
50 Multiple-Choice Questions
Complete Answers with Explained Rationales
Aligned with Intermediate Accounting Standards
WGU | Intermediate Accounting II (D104)
Bonds • Leases • Pensions • Equity • Investments • Income Taxes
For academic study and exam review • Verify with current WGU course materials
, WGU D104 | Comprehensive Assessment | 2026/2027 UPDATE
How to Use This Review
This comprehensive exam review contains high-yield multiple-choice questions covering the core topics of WGU D104
Intermediate Accounting II. Each item is followed by the correct answer and rationales that explain the underlying accounting
principle or calculation, why the correct option is preferred, and why the distractors are incorrect. Topics include bonds payable,
leases, pensions, stockholders’ equity, investments, income taxes, and statement of cash flows. Study tip: Attempt each
question before reading the answer. Then carefully review the rationale.
Topic Index (Selected High-Yield Areas)
• Bonds: issued at premium/discount; effective-interest method
• Leases: finance vs operating; lessee and lessor accounting
• Pensions: defined benefit plans; OCI and funded status
• Stockholders’ equity: treasury stock, retained earnings, EPS
• Investments: debt and equity securities; fair value hierarchy
• Income taxes: temporary differences, deferred tax assets/liabilities
• Statement of cash flows: operating, investing, financing
• Revenue recognition and complex financial instruments
• Error corrections and changes in accounting estimates/principles
Page 2
