1|Page
Wgu D470 Pre-Assessment Transportation,
Logistics, and Distribution Complete 70 Questions
With 100% Accurate Answers/ D470 Pre-
Assessment Latest
What is the effect of a company's accounting department
maintaining high ethical standards?
-The company can report more favorable results in its
financial statements.
-The company's accounting information will decrease in
value.
-The company can hire fewer accountants to do the same
amount of work.
-The company's accounting information will increase in
value. - ...ANSWER...✓✓ The company's accounting
information will increase in value.
Why might employees be interested in their company's
financial accounting information?
-Financial statement data are used to record long term
liabilities.
-Financial statement data provide detailed internal budget
information.
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-Financial statement data are often used in determining
employee bonuses.
-Financial statement data provide item-by-item product
cost information. - ...ANSWER...✓✓ Financial statement
data are often used in determining employee bonuses.
Which group establishes financial accounting rules in the
United States?
-Internal Revenue Service (IRS)
-American Institute of Certified Public Accountants
(AICPA)
-Financial Accounting Standards Board (FASB)
-International Accounting Standards Board (IASB) -
...ANSWER...✓✓ Financial Accounting Standards Board
(FASB)
Which report is one of the three primary financial
statements?
-Statement of stakeholder funds
-Statement of cash flows
-Statement of the accounting cycle
-Statement of management accounting - ...ANSWER...✓✓
Statement of cash flows
,3|Page
A company paid $5,000 cash in advertising costs.
How does this transaction affect the paying company's
accounting equation?
-Assets decrease by $5,000; expenses increase by
$5,000.
-Assets decrease by $5,000; liabilities increase by $5,000.
-Assets decrease by $5,000; revenues increase by
$5,000.
-Assets increase by $5,000; expenses increase by $5,000.
- ...ANSWER...✓✓ Assets decrease by $5,000; expenses
increase by $5,000.
What is a transaction?
-Two parties exchanging something of value
-An example of an online business document
-A type of commonly used accounting software
-A category of merchandiser or retailer - ...ANSWER...✓✓
Two parties exchanging something of value
A company borrowed $80,000 cash from a bank.
, 4|Page
How does this transaction affect the accounting equation
of the borrowing company?
-Expenses decrease owners' equity.
-Expenses increase liabilities.
-Expenses decrease liabilities.
-Expenses increase owners' equity. - ...ANSWER...✓✓
Expenses decrease owners' equity.
What is the impact of expenses on the accounting
equation?
-Expenses decrease owners' equity.
-Expenses increase liabilities.
-Expenses decrease liabilities.
-Expenses increase owners' equity. - ...ANSWER...✓✓
Expenses decrease owners' equity.
Which type of account are accounts payable and notes
payable both examples of?
-Asset
-Equity
-Expense
-Liability - ...ANSWER...✓✓ Liability
Wgu D470 Pre-Assessment Transportation,
Logistics, and Distribution Complete 70 Questions
With 100% Accurate Answers/ D470 Pre-
Assessment Latest
What is the effect of a company's accounting department
maintaining high ethical standards?
-The company can report more favorable results in its
financial statements.
-The company's accounting information will decrease in
value.
-The company can hire fewer accountants to do the same
amount of work.
-The company's accounting information will increase in
value. - ...ANSWER...✓✓ The company's accounting
information will increase in value.
Why might employees be interested in their company's
financial accounting information?
-Financial statement data are used to record long term
liabilities.
-Financial statement data provide detailed internal budget
information.
,2|Page
-Financial statement data are often used in determining
employee bonuses.
-Financial statement data provide item-by-item product
cost information. - ...ANSWER...✓✓ Financial statement
data are often used in determining employee bonuses.
Which group establishes financial accounting rules in the
United States?
-Internal Revenue Service (IRS)
-American Institute of Certified Public Accountants
(AICPA)
-Financial Accounting Standards Board (FASB)
-International Accounting Standards Board (IASB) -
...ANSWER...✓✓ Financial Accounting Standards Board
(FASB)
Which report is one of the three primary financial
statements?
-Statement of stakeholder funds
-Statement of cash flows
-Statement of the accounting cycle
-Statement of management accounting - ...ANSWER...✓✓
Statement of cash flows
,3|Page
A company paid $5,000 cash in advertising costs.
How does this transaction affect the paying company's
accounting equation?
-Assets decrease by $5,000; expenses increase by
$5,000.
-Assets decrease by $5,000; liabilities increase by $5,000.
-Assets decrease by $5,000; revenues increase by
$5,000.
-Assets increase by $5,000; expenses increase by $5,000.
- ...ANSWER...✓✓ Assets decrease by $5,000; expenses
increase by $5,000.
What is a transaction?
-Two parties exchanging something of value
-An example of an online business document
-A type of commonly used accounting software
-A category of merchandiser or retailer - ...ANSWER...✓✓
Two parties exchanging something of value
A company borrowed $80,000 cash from a bank.
, 4|Page
How does this transaction affect the accounting equation
of the borrowing company?
-Expenses decrease owners' equity.
-Expenses increase liabilities.
-Expenses decrease liabilities.
-Expenses increase owners' equity. - ...ANSWER...✓✓
Expenses decrease owners' equity.
What is the impact of expenses on the accounting
equation?
-Expenses decrease owners' equity.
-Expenses increase liabilities.
-Expenses decrease liabilities.
-Expenses increase owners' equity. - ...ANSWER...✓✓
Expenses decrease owners' equity.
Which type of account are accounts payable and notes
payable both examples of?
-Asset
-Equity
-Expense
-Liability - ...ANSWER...✓✓ Liability
