WGU D196 OBJECTIVE ASSESSMENT VERSION

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WGU D196 OBJECTIVE ASSESSMENT VERSION

1,2 AND 3 EXAM NEWEST 2025 ACTUAL EXAM

COMPLETE 300 QUESTIONS AND CORRECT

DETAILED ANSWERS (VERIFIED ANSWERS)

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• Which budget should include all production costs other than

those for direct materials and direct labor?

• Sales budget
• Direct materials budget
• Manufacturing overhead budget
• Production budget

- THE CORRECT ANSWER is: C

• Which account is a common asset account?
• Accounts payables
• Equity
• Accounts receivable
• Utilities Expense

- THE CORRECT ANSWER is: C

• On which financial statement would you see the valuation of

a company's asset accounts?

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• Statement of Cash Flows
• Balance Sheet
• Income Statement
• Statement of Retained Earnings

- THE CORRECT ANSWER is: B

• What is the final step in the accounting cycle?
• Summarize the effects of transactions
• Analyze transactions
• Prepare reports
• Record the effects of transactions

- THE CORRECT ANSWER is: c

• Which of the following is not an example of a transaction?
• Receive cash in payment of an invoice
• Purchase an asset from a supplier
• Sale on credit to a customer
• Preparing financial statements

- THE CORRECT ANSWER is: d

• On which financial statement would you see cash flows from

financing activities?

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• Statement of Cash Flows
• Balance Sheet
• Income Statement
• Statement of Retained Earnings
• THE CORRECT ANSWER is: d (Note: This appears to be

an error in the provided answer; standard accounting indicates "a" is correct, but per instruction, I am retaining "d" as given.)

• Whose job is it to make sure that investors are provided with

full and fair information about publicly traded companies?

FASB AICPA IASB SEC

- THE CORRECT ANSWER is: d

• How does a classified balance sheet provide useful

information to a decision maker?

• It distinguishes between current and long-term assets
• It provides data that are not publicly disclosed
• It distinguishes liabilities from expenses
• It provides data for a period of time instead of as a point in

time

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- THE CORRECT ANSWER is: a

• In some companies, the performance measures for profit

center managers are heavily influenced by cost allocations downward from organizational units (such as company headquarters). Why is this a mistake?

• Controllable costs should not be included in the

performance evaluation measure of a profit center manager

• Revenues should not be included in the performance

evaluation measure of a profit center manager

• Uncontrollable costs should not be included in the

performance evaluation measure of a profit center manager

• Direct costs should not be included in the performance

evaluation measure of a profit center manager

- THE CORRECT ANSWER is: c

• Which is an example of a product cost?
• Non-manufacturing personnel costs
• Rent Expense
• Office Supplies
• Raw materials to make a product

- THE CORRECT ANSWER is: d