2025/2026 WGU D196 Final Exam
Complete Objective Assessment
with Frequently Tested Questions &
Certified Solutions Prepared for Western
Governors University Students Updated for 2025/2026 Academic
Year
, Contents
1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
2 Financial Accounting Fundamentals . . . . . . . . . . . . . . . . . . . . . 2
2.1 Accounting Principles and Concepts . . . . . . . . . . . . . . . . . . 2
2.2 Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
3 Managerial Accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3.1 Cost Accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3.2 Budgeting and Variance Analysis . . . . . . . . . . . . . . . . . . . . 4
4 Additional Frequently Tested Questions . . . . . . . . . . . . . . . . . . 5
1
Complete Objective Assessment
with Frequently Tested Questions &
Certified Solutions Prepared for Western
Governors University Students Updated for 2025/2026 Academic
Year
, Contents
1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
2 Financial Accounting Fundamentals . . . . . . . . . . . . . . . . . . . . . 2
2.1 Accounting Principles and Concepts . . . . . . . . . . . . . . . . . . 2
2.2 Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
3 Managerial Accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3.1 Cost Accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3.2 Budgeting and Variance Analysis . . . . . . . . . . . . . . . . . . . . 4
4 Additional Frequently Tested Questions . . . . . . . . . . . . . . . . . . 5
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