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WGU D196 OA AND PRE - ASSESSMENT REVIEW
2024/2025 TEST BANK WITH 300+ ACTUAL EXAM
QUESTIONS AND VERIFIED ANSWERS (100%
CORRECT ANSWERS) GRADED A+ (BRAND NEW!!)
- Which item is an example of a controllable cost?
- Advertising costs
- Rent expense
- Depreciation
- Customer tastes and economic conditions - Correct Answer - a
- A company purchases equipment with a note payable. How does this transaction
- Asset increases; Liability increases
- Asset increases; Asset decreases
- Asset increases; Expense increases
- Asset increases; Equity decreases - Correct Answer - a
affect the paying company's accounting equation?
- What is the impact of paying employee wages on the accounting equation?
- Increase owner's equity
- Increase expense
- Decrease expense
- Increase asset - Correct Answer - b
- Which account is summarized on the balance sheet?
- Expense account 1 / 4
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- Owner's equity
- Revenue account
- Cost of good sold - Correct Answer - b
- A retail company purchased inventory costing $100,000. By the end of the year,
- $75,000 inventory on income statement - Correct Answer - c
inventory costing $75,000 had been sold. How is the cost of inventory reported in the financial statements?a.$75,000 COGS on balance sheet b.$75,000 inventory on balance sheet c.$75,000 COGS on income statement
- Which of the following is an example of a merchandising company?
- Furniture maker
- Locksmith
- Landscaper
- Clothing store - Correct Answer - d
- Actual manufacturing overhead includes which of the following?
- Direct labor and direct materials expenses
- Manufacturing costs other than direct labor and direct materials
- Manufacturing costs including direct labor and direct materials
- b
d .Non-manufacturing costs other than direct labor and direct materials - Correct Answer
- Activity based costing could be used by which of the following companies?
- Large commercial and industrial construction
- Healthcare organization
- Car manufacturing company 2 / 4
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- All of the above could use activity based costing - Correct Answer - d
- How are the wages of a production supervisors classified in a manufacturing
- Direct labor expense
- Manufacturing overhead
- Selling expense
- Direct materials expense - Correct Answer - b
company?
- Which business document involves the process of tracking the actual performance
- balance sheet
- sales invoice and purchase order.
- money order
- none of the anwers - Correct Answer - b
of a company?
- Your company purchases new equipment for cash. Which accounts are increased
- Cash increases and Equipment increases
- Cash decreases and equipment decreases
- Equipment increases and owners equity decreases
- Equipment increases and cash decreases. - Correct Answer - d
and decreased because of this transaction?
- What factors should the production supervisor consider in assembling her
- Projected sales, desired ending inventory, and amount of beginning inventory.
- desired ending inventory, sales, and beginning inventory
- beginning inventory, sales, and ending inventory
- none of the answers - Correct Answer - a
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production?
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- BEP (units) formula
- sales- cm
- fixed costs / CM per unit
- fixed cost / variance cost
- fixed costs - cm per unit - Correct Answer - b
- Earnings (Loss) Per Share (EPS)
- number of shares of stock - net income
- both alternatives
- none of the alternatives - Correct Answer - a
a.net income /outstanding number of shares of stock.
- What is the impact of expenses on the accounting equation?
- Expenses decrease owners' equity.
- revenue increases owner's equity
- owners 's equity increase revenue
- liability decrease owner's equity - Correct Answer - a
- For purposes of cash flow classification in the statement of cash flows, which item is
- Repaying loans
- Borrowing money
- Distribution to owners
- Purchasing land - Correct Answer - d
an investing activity?
- Which of the following is not an example of a cost driver?
- Administrative expenses
- Direct labor hours
- Machine hours
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