WGU D220 > EXAM > WGU D196 OA AND PRE ASSESSMENT EXAM 2 2024/2025 COMPLETE QUESTIONS WITH CORRECT ANSWERS GUARANTEED P (All)

WGU D196 OA AND PRE ASSESSMENT EXAM 2 2024/2025 COMPLETE QUESTIONS WITH CORRECT ANSWERS GUARANTEED PASS | RATED A+

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WGU D196 OA AND PRE ASSESSMENT EXAM 2 2024/2025 COMPLETE QUESTIONS WITH CORRECT ANSWERS GUARANTEED PASS | RATED A+ 1. Which type of account are accounts payable and notes payable both examples of? ... -Asset -Equity -Expense -Liability - Answer>>> Liability 2. What is the purpose of the financial accounting cycle? -To turn information about transactions into financial statements -To gather information related to the expenses and income generated by a company -To produce and analyze a company's monthly bank statement -To collect confidential information for management to use as a competitive tool - Answer>>> To turn information about transactions into financial statements 3. According to the accounting equation, the amount of liabilities and equity must always be equal to another amount. What is that other amount? -Cash -The sum of expenses and dividends -Assets -The sum of revenues and expenses - Answer>>> Assets 4. Which item is an expense item? -Accounts receivable -Accounts payable -Cost of goods sold -Loans payable - Answer>>> Cost of goods sold 5. Tax accountant for wealthy people - Answer>>> Tax accountant for wealthy people 6. What is an example of direct materials? Cost of saws and hammers in constructing a house Cost of robotic equipment in making automobiles Cost of aluminum in making an airplane Cost of sandpaper in making wood furniture - Answer>>> Cost of aluminum in making an airplane [Show More]

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