D196 test - Study guides, Class notes & Summaries

Which primary area of accounting generates reports for internal users? Management Accounting What is the role of the IASB in regulating accounting standards? Establish international accounting standards What group of people make up the FASB? People from a variety of business-related backgrounds What is the role of the GASB in setting accounting standards? The GASB is a private-sector organization that establishes accounting and financial reporting standards for U.S. stat...

Principles of Financial and Managerial Accounting - D196 test Accounting plays a vital role in the decision-making process. Which action is the first step in the decision-making process? Identify the issue The money that a company needs to buy its land, pay its employees, and buy its supplies is called capital. What are the potential sources of capital for a business? Investors, creditors, and retained business earnings Which primary area of accounting generates reports for internal users...

Principles of Financial and Managerial Accounting - D196 Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified | Ace the Test

WGU D196 Pre-Assessment Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified | Ace the Test

WGU D196 Final Exam Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified | Ace the Test

What is the effect of a company's accounting department maintaining high ethical standards? The company's accounting information will increase in value. Why might employees be interested in their company's financial accounting information? Financial statement data are often used in determining employee bonuses. Which group establishes financial accounting rules in the United States? Financial accounting standards board Which report is one of the three primary financial...

WGU D196 Pre-Assessment Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified | Ace the Test

D196 WGU Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified | Ace the Test

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WGU d196 Pre assessment Test with Correct Answers Which type of account is retained earnings? Revenue Asset Equity Liability - Answer-Equity For purposes of cash flow classification in the statement of cash flows, which item is an operating activity? Buying equipment Selling bonds Distributing dividends Paying employees - Answer-Paying employees How does a classified balance sheet provide useful information to a decision maker? It distinguishes between current and long-term...