WGU D102 ACCOUNTING SYMPHONY EXAM QUESTIONS AND ANSWERS

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WGU D102 ACCOUNTING SYMPHONY EXAM
QUESTIONS AND ANSWERS
Attempt 1




 Exemplary



 Financial Statement Overview — 15% of assessment
EXEMPLARY

The Balance Sheet Review

The Income Statement Review

Statement of Cash Flows Review




● Report of a company’s financial position during a period
of time.
Correct  Report of a company’s financial position as of a point in time.
● Report of a company’s operating performance during a
period of time.
● Report of a company’s operating performance as of a
point in time.




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What is the amount of liabilities at the end of July?

● $60,000
Correct  $90,000
● $150,000
● $300,000




● Cash minus dividends.
● Sales minus operating expenses.
● Total revenues minus total expenses.




Which set is a list of all of the items that are used in computing this
company’s net income?

● Inventory, accounts payable, and retained earnings.


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● Equity
● Investing




Which set of items is a list of items that are used in computing the
company's financing cash flow for the year?

Correct  Cash paid for dividends and cash received as new investment
from owners.
● Cash received from customers and cash paid for rent.
● Cash received from customers, and cash paid to
employees for wages.
● Cash paid to purchase a new building and cash received
from the sale of land.




What items are used in computing the company's ending cash balance
for the year?
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