WGU MBA PROGRAM C213 ACCOUNTING OA EXAM LATEST VERSION ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+

WGU MBA PROGRAM C213 ACCOUNTING OA EXAM LATEST VERSION ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+ Which cash flow ratio reflects a company's ability to make its interest payments from cash generated through operations - ....ANSWER....Cash times interest earned Which cash flow ratio reflects a company's ability to finance its capital expansion through cash from operations - ....ANSWER....Cash flow adequacy In general, most companies have significant noncash expenses that reduce net income and also cause the cash flow-to-net income ratio to be - ....ANSWER....Greater than 1 Which of the following would be classified as a long-term asset - ....ANSWER....Land - Property, plant, equipment Owners of a corporation are referred to as - ....ANSWER....Accounts receivable Owners of a corporation are referred to as - ....ANSWER....Stockholders Which of the following types of accounts show how resources came into a firm - ....ANSWER....Both liabilities and owners' equity The total amount invested to acquire an ownership interest in a corporation is called - ....ANSWER....Common Stock and Preferred Stock What decreases owners' equity - ....ANSWER....generating a loss Example of a current asset - ....ANSWER....accounts receivable Asset accounts - ....ANSWER....prepaid expenses, equipment, accounts receivable An enterprise's obligations to pay cash or other economic resources to others are called - ....ANSWER....liabilities Current assets usually are listed on a balance sheet in - ....ANSWER....Decreasing order of liquidity In non-U.S. Balance sheets, you will often see - ....ANSWER....The stockholders' equity section will be listed first on the balance sheet. Current assets and current liabilities will be netted together The process of valuation involves computing numbers that are both - ....ANSWER....Relevant and reliable The process of determining the dollar value to assign to an item that is to be recognized in the financial statements is called - ....ANSWER....Valuation Historical cost has long been used in accounting because it is - ....ANSWER....Reliable Reporting the details of a transaction in the notes to the financial statements is called - ....ANSWER....Disclosure This is sometimes done in place of recognition when the effects of an event cannot be quantified with any degree of certainty. - ....ANSWER....Disclosure When a company borrows money from a bank to be repaid in over time, the effect on the accounting equation for the company will be to - ....ANSWER....Increase Cash and increase Bank Loan Payable When a company purchases equipment on credit, the effect on the accounting equation will be to - ....ANSWER....increase Equipment and increase a liability When a company pays for a warehouse by paying cash, the effect on the accounting equation will be to - ....ANSWER....Increase Buildings and decrease Cash When a company buys a warehouse by using a mortgage with a local bank, the effect on the accounting equation for the company will be to - ....ANSWER....Increase Buildings and increase Mortgage Payable When an investor pays cash into a business to become a part owner, the effect on the accounting equation for the business will be to - ....ANSWER....Increase Cash and