WGU D196 Questions and Answers 100% Pass

WGU D196 Questions and Answers 100% Pass 1. Which budget should include all production costs other than those for direct materials and direct labor? A.Sales budget B.Direct materials budget C.Manufacturing overhead budget D. Production budget - Answer ️️ -c 2. Which account is a common asset account? A.Accounts payables B.Equity C.Accounts receivable D. Utilities Expense - Answer ️️ -c 3 .On which financial statement would you see the valuation of a company's asset accounts? a.Statement of Cash Flows b.Balance Sheet c.Income Statement d.Statement of Retained Earnings - Answer ️️ -B 4. What is the final step in the accounting cycle? a.Summarize the effects of transactions b.Analyze transactions c.Prepare reports d.Record the effects of transactions - Answer ️️ -c 5. Which of the following is not an example of a transaction? a.Receive cash in payment of an invoice b.Purchase an asset from a supplier c.Sale on credit to a customer d. Preparing financial statements - Answer ️️ -d 6. On which financial statement would you see cash flows from financing activities? a.Statement of Cash Flows b.Balance Sheet c.Income Statement d.Statement of Retained Earnings - Answer ️️ -d 7. Whose job is it to make sure that investors are provided with full and fair information about publicly traded companies? FASB AICPA IASB SEC - Answer ️️ -d