WGU D774 Intro to Business Accounting questions and correct answers 2026

WGU D774 Intro to Business Accounting questions and correct answers 2026 In which country was the double-entry accounting system developed in the 15th century? Italy 3 multiple choice options Which major economic event followed soon after the Stock Market Crash of 1929? Great Depression 3 multiple choice options Which economic event immediately preceded and led to the passage of the Sarbanes-Oxley Act of 2002? Dot-com bubble 3 multiple choice options Why are there no standardized regulations relating to the production of managerial accounting information? Company managers can generate any information they want to help them make better decisions, so no outside regulation is needed. 3 multiple choice options What is a common use of managerial accounting information? Making better planning, operating, and evaluating decisions inside a company 3 multiple choice options Which report is one of the three primary financial statements? Income statement 3 multiple choice options Who performs external audits of financial statements? Certified Public Accountant (CPA) 3 multiple choice options Who selects a corporation’s board of directors? Shareholders of the corporation 3 multiple choice options What is an advantage of structuring a business as a corporation? Legal existence separated from that of the shareholders 3 multiple choice options What is one of the characteristics of a corporation? Ease of transfer of ownership 3 multiple choice options What is contained in Securities and Exchange Commission Form 10-K? Annual audited financial statements 3 multiple choice options Why would a company's employees be directly interested in the company's income statement? To assess the current profitability of the company, its performance, and its liquidity 3 multiple choice options Which information is contained in the reported amount of net income?