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WGU C201 BUSINESS ACUMEN OBJECTIVE ASSESSMENT 2 LATEST VERSIONS (VERSION A AND B) NEWEST 2024 ACTUAL EXAM TEST BANK COMPLETE 400 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+$16.49
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WGU C201 BUSINESS ACUMEN OBJECTIVE ASSESSMENT 2 LATEST VERSIONS (VERSION A AND B) NEWEST 2024 ACTUAL EXAM TEST BANK COMPLETE 400 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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Course
WGU C
Institution
WGU C
WGU C201 BUSINESS ACUMEN OBJECTIVE
ASSESSMENT 2 LATEST VERSIONS (VERSION A AND
B) NEWEST 2024 ACTUAL EXAM TEST BANK
COMPLETE 400 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+
WGU C213 Object Assessment
Accounting for Decision Makers 2023/
2024 Exam |Actual Questions and
Verified Answers | A Grade
What does accounting focus on? - ------CORRECT ANSWER -----The impact a business's activities have on
its overall financial performance
Which report summarizes cash collections and cash expenditures from operating, investing, and
financing activities over a period of time? - ------CORRECT ANSWER -----Statement of cash flows
Which users would have a primary concern with an organization's ability to provide healthcare benefits?
- ------CORRECT ANSWER -----Employees
Which body regulates a certified public accounting firm's audit practices when the firm is auditing a
large publicly traded company? - ------CORRECT ANSWER -----The Public Company Accounting Oversight
Board (PCAOB)
What has had the most significant impact on accounting practices? - ------CORRECT ANSWER -----
Information technology
What two items of information are revealed on the balance sheet?
Which term is defined as the residual interest in the net assets of a company? - ------CORRECT ANSWER -
----Owners' equity
A corporation has total liabilities of $300 million, total owners' equity of $100 million, and current assets
of $50 million.
What is the value of the firm's long-term assets? - ------CORRECT ANSWER -----$350 million
Which situation should result in revenue recognition on the income statement for the year ending
12/31/14 if the firm is using accrual-basis accounting? - ------CORRECT ANSWER -----In 2014, a company
provides services to a customer for which cash will be collected the next year (2015).
Which category on the statement of cash flows summarizes cash receipts and payments to owners and
creditors of the company? - ------CORRECT ANSWER -----Cash flows from financing activities
Where would an investor find a summary of a company's significant accounting policies? - ------CORRECT
ANSWER -----In the notes to financial statements
Which assurance does an external audit report provide for its readers? - ------CORRECT ANSWER -----The
company's financial statements fairly reflect its financial position
Reliable - ------CORRECT ANSWER -----Information that can be verified
Relevant - ------CORRECT ANSWER -----Information having to do with the matter at hand
Material - ------CORRECT ANSWER -----Information that is important enough to make a difference
Conservatism - ------CORRECT ANSWER -----Information related to recognizing losses as they occur
,steps in the decision cycle - ------CORRECT ANSWER -----1 Prepare financial statements.
2 Analyze financial statements.
3 Gather information.
4 Make decision.
5 Implement decision
Partial financial information for a company is as follows:
Current assets $36,543
Total assets $58,719
Current liabilities $24,824
Total liabilities $48,561
Stockholders' equity $10,158
Sales $46,997
Net Income $ 3,761
Market value of shares $41,316
What is the price-earnings (PE) ratio for this company? - ------CORRECT ANSWER -----11.0
What is consistent with a continual decline in gross profit if the firm's cost of goods sold remains the
same? - ------CORRECT ANSWER -----Continual decrease in sales
Which two cash flow adequacy ratios represent a cash cow? - ------CORRECT ANSWER -----
$6,991/$5,486. $5,220/$1,875.
Which formula yields a cash times interest earned ratio of 11? - ------CORRECT ANSWER -----Cash before
interest and taxes of $11,000 / cash paid for interest of $1,000
Which form of debt should be reported in the long-term liability category? - ------CORRECT ANSWER -----
Notes payable expected to be paid in 18 months
, In January of year 1, a company began doing business as a corporation in order to sell technology-
related accessories and services. During its first month of operations, the following events occurred:
January 1
The corporation received $1,000,000 in cash in exchange for stock issued to stockholders.
January 3
The corporation borrowed $250,000 from bank. The loan is a four-year loan with an interest rate of 12
percent, payable each year on January 1 beginning in year 2.
January 5
The corporation purchased equipment to be used in the business for $200,000 cash.
January 8
The corporation purchased inventory costing $200,000 by paying $120,000 in cash. The remainder was
put on credit accounts with suppliers.
January 15
The corporation hired five employees. Each employee will be paid $1,000 at the end of each month.
January 30
The corporation paid $6,000 cash for a one-year insurance policy. The policy pe - ------CORRECT ANSWER
-----Equipment will increase $200,000, and cash will decrease $200,000.
In January of year 1, a company began doing business as a corporation in order to sell technology-
related accessories and services. During its first month of operations, the following events occurred:
January 1
The corporation received $1,000,000 in cash in exchange for stock issued to stockholders.
January 3
The corporation borrowed $250,000 from a bank. The loan is a four-year loan with an interest rate of 12
percent, payable each year on January 1 beginning in year 2.
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