Wgu d104 exam 2024 - Study guides, Class notes & Summaries

WGU D104 Intermediate Accounting II Units 2-3 Exam verified Solutions 2024/2025 These characteristics: They are acquired for use in operations and not for resale. They are long-term in nature and usually depreciated They possess physical substance. Describe what? - Answer -property, plant, and equipment Only asset that is NOT depreciated - Answer -land PP&E - Answer -property, plant, and equipment historical cost - Answer -the cash or cash equivalent price of obtaining the asset and bri...

WGU D104 Intermediate Accounting II Exam 2024/2025 with Verified Solutions Which method should be used to handle indirect costs of self-constructed assets? Assigning no variable overhead to a constructed asset Allocating overhead on the basis of gained production Assigning a pro rata portion of all overhead to the asset Allocating the total overhead to the asset - Answer -Assigning a pro rata portion of all overhead to the asset A company purchases land for development into a subdivision...

WGU D104 Intermediate Accounting II Units 4-6 Exam with Verified Solutions 2024 Asset Turnover Ratio - Answer -net sales/average total assets Profit Margin Ratio - Answer -net income/total sales Rate of return on assets - Answer -net income/average total assets Current ratio - Answer -current assets/current liabilities acid-test ratio - Answer -(cash + short-term investments + net receivables) / current liabilities rate of return on common stock equity - Answer -(net income - preferred di...

WGU D104 Exam with Verified Solutions Latest Update Data - Definition Numeric, textual, visual, or audio information that describes real-world systems Scope - Data Amount of data produced & collected can vary Format - Data Data may be produced as numbers, text, image, audio, or video Access - Data Some data sources are private while others are made publicly available Analog - Data Encoded as continuous variations on various physical media Digital - Data Encoded as 0s & 1s on electro...