1|Page
WGU D196 EXAM LATEST WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS
ALREADY GRADED A+ 100% GUARANTEED
PASS!
Absolute Cell Reference - .....ANSWER ...✔✔ A cell
reference that remains constant when a formula is
pasted into a new cell.
Account - .....ANSWER ...✔✔ An accounting record in
which the results of transactions are accumulated; shows
increases, decreases, and a balance.
Accounting - .....ANSWER ...✔✔ A system for
providing quantitative, financial information about
economic entities that is useful for making sound
economic decisions. Accounting provides the means of
recording and communicating business activities and the
results of those activities.
,2|Page
Accounting Cycle - .....ANSWER ...✔✔ The procedure
for analyzing, recording, summarizing, and reporting the
transactions of a business.
Accounting Equation - .....ANSWER ...✔✔ An
algebraic equation that expresses the relationship
between assets (resources), liabilities (obligations), and
owner's equity (net assets, or the residual interest in a
business after all liabilities have been met): Assets =
Liabilities + Owners' Equity.
Accounting System - .....ANSWER ...✔✔ The
procedures and processes used by a business to analyze
transactions, handle routine bookkeeping tasks, and
structure information so it can be used to evaluate the
performance and health of the business.
Activity-based Costing (ABC) - .....ANSWER ...✔✔ A
method of attributing overhead costs to products based
on measurable factors that relate to activities that
create overhead costs.
Actual Manufacturing Overhead - .....ANSWER ...✔✔
Manufacturing costs other than direct materials and
direct labor.
,3|Page
American Institute of Certified Public Accountants
(AICPA) - .....ANSWER ...✔✔ A professional
organization for CPAs in which membership is voluntary.
Annual Report - .....ANSWER ...✔✔ A document that
summarizes the results of operations and financial status
of a company for the past year and outlines future
plans.
Applied Manufacturing Overhead - .....ANSWER
...✔✔ The amount of the manufacturing overhead
that is assigned to the goods produced. This is usually
done by using a predetermined annual overhead rate.
Arm's-length Transaction - .....ANSWER ...✔✔ A
transaction in which a buyer and seller act
independently to get the best possible deal.
Articulation - .....ANSWER ...✔✔ The interrelationships
among the financial statements.
Assets - .....ANSWER ...✔✔ Economic resources that
are owned or controlled by a company.
, 4|Page
Balance Sheet - .....ANSWER ...✔✔ A summary of the
financial position of a company at a particular date.
Batch-level Activities - .....ANSWER ...✔✔ Activities
that take place in order to support a batch or
production run, regardless of the size of the batch.
Book Value - .....ANSWER ...✔✔ The value of a
company measured by the amount of owner's equity in
the company.
Break Even - .....ANSWER ...✔✔ To make just enough
income to cover costs without any profit or loss.
Break-even Point - .....ANSWER ...✔✔ The amount of
sales at which total costs of the number of units sold
equal total revenues; the point at which there is no profit
or loss.
Budget - .....ANSWER ...✔✔ A quantitative expression
of a plan that shows how a firm or organization will
acquire and use resources over some specified period of
time.
WGU D196 EXAM LATEST WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS
ALREADY GRADED A+ 100% GUARANTEED
PASS!
Absolute Cell Reference - .....ANSWER ...✔✔ A cell
reference that remains constant when a formula is
pasted into a new cell.
Account - .....ANSWER ...✔✔ An accounting record in
which the results of transactions are accumulated; shows
increases, decreases, and a balance.
Accounting - .....ANSWER ...✔✔ A system for
providing quantitative, financial information about
economic entities that is useful for making sound
economic decisions. Accounting provides the means of
recording and communicating business activities and the
results of those activities.
,2|Page
Accounting Cycle - .....ANSWER ...✔✔ The procedure
for analyzing, recording, summarizing, and reporting the
transactions of a business.
Accounting Equation - .....ANSWER ...✔✔ An
algebraic equation that expresses the relationship
between assets (resources), liabilities (obligations), and
owner's equity (net assets, or the residual interest in a
business after all liabilities have been met): Assets =
Liabilities + Owners' Equity.
Accounting System - .....ANSWER ...✔✔ The
procedures and processes used by a business to analyze
transactions, handle routine bookkeeping tasks, and
structure information so it can be used to evaluate the
performance and health of the business.
Activity-based Costing (ABC) - .....ANSWER ...✔✔ A
method of attributing overhead costs to products based
on measurable factors that relate to activities that
create overhead costs.
Actual Manufacturing Overhead - .....ANSWER ...✔✔
Manufacturing costs other than direct materials and
direct labor.
,3|Page
American Institute of Certified Public Accountants
(AICPA) - .....ANSWER ...✔✔ A professional
organization for CPAs in which membership is voluntary.
Annual Report - .....ANSWER ...✔✔ A document that
summarizes the results of operations and financial status
of a company for the past year and outlines future
plans.
Applied Manufacturing Overhead - .....ANSWER
...✔✔ The amount of the manufacturing overhead
that is assigned to the goods produced. This is usually
done by using a predetermined annual overhead rate.
Arm's-length Transaction - .....ANSWER ...✔✔ A
transaction in which a buyer and seller act
independently to get the best possible deal.
Articulation - .....ANSWER ...✔✔ The interrelationships
among the financial statements.
Assets - .....ANSWER ...✔✔ Economic resources that
are owned or controlled by a company.
, 4|Page
Balance Sheet - .....ANSWER ...✔✔ A summary of the
financial position of a company at a particular date.
Batch-level Activities - .....ANSWER ...✔✔ Activities
that take place in order to support a batch or
production run, regardless of the size of the batch.
Book Value - .....ANSWER ...✔✔ The value of a
company measured by the amount of owner's equity in
the company.
Break Even - .....ANSWER ...✔✔ To make just enough
income to cover costs without any profit or loss.
Break-even Point - .....ANSWER ...✔✔ The amount of
sales at which total costs of the number of units sold
equal total revenues; the point at which there is no profit
or loss.
Budget - .....ANSWER ...✔✔ A quantitative expression
of a plan that shows how a firm or organization will
acquire and use resources over some specified period of
time.
