2025/2026 WGU D196 Final Exam
Complete Objective Assessment
with Frequently Tested Questions &
Certified Solutions
Prepared for WGU Students
August 19, 2025
, Contents
1 Introduction 2
2 Financial Accounting 2
2.1 Basic Concepts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
2.2 Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
3 Managerial Accounting 4
3.1 Cost Concepts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3.2 Budgeting and Variance Analysis . . . . . . . . . . . . . . . . . . . . . 5
4 Additional Questions 6
4.1 Financial Accounting Continued . . . . . . . . . . . . . . . . . . . . . 6
4.2 Managerial Accounting Continued . . . . . . . . . . . . . . . . . . . . 7
4.3 Advanced Topics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
5 Conclusion 12
1
Complete Objective Assessment
with Frequently Tested Questions &
Certified Solutions
Prepared for WGU Students
August 19, 2025
, Contents
1 Introduction 2
2 Financial Accounting 2
2.1 Basic Concepts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
2.2 Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
3 Managerial Accounting 4
3.1 Cost Concepts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3.2 Budgeting and Variance Analysis . . . . . . . . . . . . . . . . . . . . . 5
4 Additional Questions 6
4.1 Financial Accounting Continued . . . . . . . . . . . . . . . . . . . . . 6
4.2 Managerial Accounting Continued . . . . . . . . . . . . . . . . . . . . 7
4.3 Advanced Topics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
5 Conclusion 12
1
