WGU MBA PROGRAM C213 ACCOUNTING OA EXAM 2024/2025
NEWEST VERSION WITH ACTUAL COMPLETE 100 REAL EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY
GRADED A+
What are the most common long term assets? - ANSWER -
Property, plant and equipment
intagible assets - ANSWER -companies report the intangibles
that they have purchased from other companies but not the
intangibles that they have developed themselves
The first item in a U.S. balance sheet is - ANSWER -usually cash;
companies located in non-U.S. countries often list long-term
assets first.
Companies usually provide balance sheets - ANSWER -For at
least two years, with the statements shown in comparative, side-
by-side format
regognition - ANSWER -Recognition is the process of
condensing all estimates and judgments into one number and
reporting that one number in the formal financial statements
, What is the accounting equation? - ANSWER -Assets =
Liabilities + Owner's Equity
What is a company's asset mix? - ANSWER -The proportion of
total assets in each asset category and is largely determined by
the industry in which the company operates.
What is the financing mix? - ANSWER -The result of
management decisions
Net Income - ANSWER -the difference between total revenue and
total expenses when total revenue is greater
What is the best measure of sustainable profitability - ANSWER -
income generated from continued operations
Accounting - ANSWER -Recording of day-to-day financial
activities of a company and the organization of that information
into summary reports used to evaluate the companies financial
status.
Three primary financial statements in financial accounting -
ANSWER -1) The
Balance Sheet
2) The Income Statement
NEWEST VERSION WITH ACTUAL COMPLETE 100 REAL EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY
GRADED A+
What are the most common long term assets? - ANSWER -
Property, plant and equipment
intagible assets - ANSWER -companies report the intangibles
that they have purchased from other companies but not the
intangibles that they have developed themselves
The first item in a U.S. balance sheet is - ANSWER -usually cash;
companies located in non-U.S. countries often list long-term
assets first.
Companies usually provide balance sheets - ANSWER -For at
least two years, with the statements shown in comparative, side-
by-side format
regognition - ANSWER -Recognition is the process of
condensing all estimates and judgments into one number and
reporting that one number in the formal financial statements
, What is the accounting equation? - ANSWER -Assets =
Liabilities + Owner's Equity
What is a company's asset mix? - ANSWER -The proportion of
total assets in each asset category and is largely determined by
the industry in which the company operates.
What is the financing mix? - ANSWER -The result of
management decisions
Net Income - ANSWER -the difference between total revenue and
total expenses when total revenue is greater
What is the best measure of sustainable profitability - ANSWER -
income generated from continued operations
Accounting - ANSWER -Recording of day-to-day financial
activities of a company and the organization of that information
into summary reports used to evaluate the companies financial
status.
Three primary financial statements in financial accounting -
ANSWER -1) The
Balance Sheet
2) The Income Statement
