WGU D196 PRINCIPLES OF FINANCIAL
AND MANAGERIAL ACCOUNTING NEW
WRITTEN COURSE REQUIREMENT
MATERIAL FINAL PAPER 2026 COMPLETE
SOLUTIONS AND CORRECT ANSWERS
GRADED A+
⩥ Earnings (Loss) Per Share (EPS). Answer: The amount of net income
(earnings) related to each share of stock; computed by dividing net
income by the number of shares of stock outstanding during this period.
⩥ Economy of Scale. Answer: A pattern of decreasing costs per unit as
unit volume increases.
⩥ Estimated Manufacturing Overhead. Answer: Budgeted
manufacturing overhead costs that are used to establish the
predetermined overhead rate.
⩥ Ethics. Answer: The basic moral principles that govern an individual's
behavior.
⩥ Evaluating. Answer: Analyzing results, rewarding performance, and
identifying problems.
,⩥ Expenses. Answer: The amount of assets consumed through business
operations; the costs incurred in normal business operations to generate
revenues.
⩥ External Transaction. Answer: An exchange that occurs between a
company and an external party and that is recorded in the financial
records of the company.
⩥ Financial Accounting. Answer: The area of accounting concerned with
reporting financial information to interested external parties.
⩥ Financial Accounting Standards Board (FASB). Answer: The
organization responsible for studying accounting issues and establishing
accounting standards to govern financial reporting in the United States.
⩥ Financial Statement Analysis. Answer: The examination of both the
relationships among financial statement numbers and the trends in those
numbers over time.
⩥ Financial Statements. Answer: Reports such as the balance sheet,
income statement, and statement of cash flows, which summarize the
financial status and results of operations of a business entity.
, ⩥ Financing Activities. Answer: Activities whereby cash is obtained
from or repaid to owners and creditors.
⩥ Finished Goods Inventory. Answer: Inventory that has completed the
production process and is ready for sale to customers.
⩥ Fixed Costs. Answer: Costs that remain constant in total, regardless of
activity level, over a certain range of activity.
⩥ Form 10-K. Answer: A form required by the SEC for businesses to
report a comprehensive summary of financial perfomance, including the
three primary financial statements.
⩥ Form 10-Q. Answer: Quarterly financial reports that publicly traded
companies must file with the SEC.
⩥ Gains. Answer: Money made on activities outside the normal business
of a company.
⩥ Generally Accepted Accounting Principles (GAAP). Answer:
Authoritative guidelines that define accounting practice at a particular
time in the United States.
AND MANAGERIAL ACCOUNTING NEW
WRITTEN COURSE REQUIREMENT
MATERIAL FINAL PAPER 2026 COMPLETE
SOLUTIONS AND CORRECT ANSWERS
GRADED A+
⩥ Earnings (Loss) Per Share (EPS). Answer: The amount of net income
(earnings) related to each share of stock; computed by dividing net
income by the number of shares of stock outstanding during this period.
⩥ Economy of Scale. Answer: A pattern of decreasing costs per unit as
unit volume increases.
⩥ Estimated Manufacturing Overhead. Answer: Budgeted
manufacturing overhead costs that are used to establish the
predetermined overhead rate.
⩥ Ethics. Answer: The basic moral principles that govern an individual's
behavior.
⩥ Evaluating. Answer: Analyzing results, rewarding performance, and
identifying problems.
,⩥ Expenses. Answer: The amount of assets consumed through business
operations; the costs incurred in normal business operations to generate
revenues.
⩥ External Transaction. Answer: An exchange that occurs between a
company and an external party and that is recorded in the financial
records of the company.
⩥ Financial Accounting. Answer: The area of accounting concerned with
reporting financial information to interested external parties.
⩥ Financial Accounting Standards Board (FASB). Answer: The
organization responsible for studying accounting issues and establishing
accounting standards to govern financial reporting in the United States.
⩥ Financial Statement Analysis. Answer: The examination of both the
relationships among financial statement numbers and the trends in those
numbers over time.
⩥ Financial Statements. Answer: Reports such as the balance sheet,
income statement, and statement of cash flows, which summarize the
financial status and results of operations of a business entity.
, ⩥ Financing Activities. Answer: Activities whereby cash is obtained
from or repaid to owners and creditors.
⩥ Finished Goods Inventory. Answer: Inventory that has completed the
production process and is ready for sale to customers.
⩥ Fixed Costs. Answer: Costs that remain constant in total, regardless of
activity level, over a certain range of activity.
⩥ Form 10-K. Answer: A form required by the SEC for businesses to
report a comprehensive summary of financial perfomance, including the
three primary financial statements.
⩥ Form 10-Q. Answer: Quarterly financial reports that publicly traded
companies must file with the SEC.
⩥ Gains. Answer: Money made on activities outside the normal business
of a company.
⩥ Generally Accepted Accounting Principles (GAAP). Answer:
Authoritative guidelines that define accounting practice at a particular
time in the United States.
