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WGU D102 EXAM/36 QUESTIONS AND ANSWERS
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WGU D102 EXAM/36 QUESTIONS AND ANSWERS

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  • October 9, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • wgu d102 exam36 questions and answers

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  • WGU D102
  • WGU D102

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WGU D102 EXAM/36 QUESTIONS
AND ANSWERS
Assets - -economic resources that are owned or controlled by a company.

- Common Assets - -Cash, Accounts Receivable, Inventory, Buildings

- Cash - -Coins, currency, checks

*The amount in a company's checking account

- Accounts Receivable - -Amounts owed to a company that sold goods or
services to a customer on credit

*If you have a balance on your credit card, the credit card company classifies
the amount you owe them as an account receivable.

- Inventory - -Items that are purchased or manufactured by a company and
are resold

*The items you see on the shelves in Walmart are considered by Walmart as
inventory.

- Buildings - -Structures used in the operations of a business

*The physical store itself is classified by Walmart as a building.

- Common Liabilities - -Accounts Payable, Taxes Payable, Mortgage Payable,
Unearned Revenue

- Accounts Payable - -Amount owed as a result of the purchase of goods and
services on credit

* The amount owed by a company for inventory that was purchased on credit
and has not been paid for yet

- Taxes Payable - -Amount owed to federal and state governments resulting
from the application of tax laws

* Corporate income tax or employment taxes owed but not yet paid

- Mortgage Payable - -Amount owed relating to the purchase of property

*The loan associated with the purchase of a home or building

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