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D196 WGU Questions and Answers with Verified Solutions
D196 WGU Questions and Answers with 
Verified Solutions 
What is the role and purpose of accounting ? - Answer ️️ -Role: To help track income and 
expenditures, and to provide investors, management, and government with financial information. 
Purpose: To accumulate, measure, and communicate financial information about businesses and 
other organizations. 
· Who uses accounting information and why? - Answer ️️ -Potential investors and creditors 
use accounting information, but basically ...
- Exam (elaborations)
- • 15 pages •
D196 WGU Questions and Answers with 
Verified Solutions 
What is the role and purpose of accounting ? - Answer ️️ -Role: To help track income and 
expenditures, and to provide investors, management, and government with financial information. 
Purpose: To accumulate, measure, and communicate financial information about businesses and 
other organizations. 
· Who uses accounting information and why? - Answer ️️ -Potential investors and creditors 
use accounting information, but basically ...
D196- Principles of Financial and Managerial Accounting Questions and Answers Graded A
D196- Principles of Financial and Managerial Accounting 
Questions and Answers Graded A 
bookkeeping - Answer ️️ -day to day keeping of transcations 
steps of decision making - Answer ️️ -identify issue 
gather information 
identify alternatives 
select option that most likely results in desired objective 
accounting - Answer ️️ -analysis of events 
record and report financial effects of business activities 
where does capital come from (3) - Answer ️️ -investors 
creditors(lende...
- Exam (elaborations)
- • 15 pages •
D196- Principles of Financial and Managerial Accounting 
Questions and Answers Graded A 
bookkeeping - Answer ️️ -day to day keeping of transcations 
steps of decision making - Answer ️️ -identify issue 
gather information 
identify alternatives 
select option that most likely results in desired objective 
accounting - Answer ️️ -analysis of events 
record and report financial effects of business activities 
where does capital come from (3) - Answer ️️ -investors 
creditors(lende...
D196 Study Guide Questions and Answers Rated A
D196 Study Guide Questions and Answers Rated A 
What is the role and purpose of accounting? - Answer ️️ -Accounting is used to accumulate, 
measure, and communicate financial information about organizations. This information is used 
to make informed decisions regarding resource usage and allocation. 
Who uses accounting information and why? - Answer ️️ -Managerial Accounting: Internal 
decision making (managers, CEO's, supervisors, etc.) 
Financial Accounting: External user benefit (st...
- Exam (elaborations)
- • 4 pages •
D196 Study Guide Questions and Answers Rated A 
What is the role and purpose of accounting? - Answer ️️ -Accounting is used to accumulate, 
measure, and communicate financial information about organizations. This information is used 
to make informed decisions regarding resource usage and allocation. 
Who uses accounting information and why? - Answer ️️ -Managerial Accounting: Internal 
decision making (managers, CEO's, supervisors, etc.) 
Financial Accounting: External user benefit (st...
WGU D196 Questions and Answers Graded A+ 2024
WGU D196 Questions and Answers 
Absolute Cell Reference - Answer ️️ -A cell reference that remains constant when a formula is 
pasted into a new cell. 
Account - Answer ️️ -An accounting record in which the results of transactions are 
accumulated; shows increases, decreases, and a balance. 
Accounting - Answer ️️ -A system for providing quantitative, financial information about 
economic entities that is useful for making sound economic decisions. Accounting provides the 
means of r...
- Exam (elaborations)
- • 10 pages •
WGU D196 Questions and Answers 
Absolute Cell Reference - Answer ️️ -A cell reference that remains constant when a formula is 
pasted into a new cell. 
Account - Answer ️️ -An accounting record in which the results of transactions are 
accumulated; shows increases, decreases, and a balance. 
Accounting - Answer ️️ -A system for providing quantitative, financial information about 
economic entities that is useful for making sound economic decisions. Accounting provides the 
means of r...
WGU D196 Pre-Assessment Questions and Answers with Verified Solutions
WGU D196 Pre-Assessment Questions and 
Answers with Verified Solutions 
What is the effect of a company's accounting department maintaining high ethical standards? 
-The company can report more favorable results in its financial statements. 
-The company's accounting information will decrease in value. 
-The company can hire fewer accountants to do the same amount of work. 
-The company's accounting information will increase in value. - Answer ️️ -The company's 
accounting information wi...
- Exam (elaborations)
- • 13 pages •
WGU D196 Pre-Assessment Questions and 
Answers with Verified Solutions 
What is the effect of a company's accounting department maintaining high ethical standards? 
-The company can report more favorable results in its financial statements. 
-The company's accounting information will decrease in value. 
-The company can hire fewer accountants to do the same amount of work. 
-The company's accounting information will increase in value. - Answer ️️ -The company's 
accounting information wi...
WGU d196 questions and answers already graded A
WGU d196 questions and answers already graded A 
What is a transaction? - Answer ️️ -Two parties exchanging something of value 
What is the effect of a company's accounting department maintaining high ethical standards? - 
Answer ️️ -The company's accounting information will increase in value. 
Why might employees be interested in their company's financial accounting information? - 
Answer ️️ -Financial statement data are often used in determining employee bonuses. 
Which group es...
- Exam (elaborations)
- • 5 pages •
WGU d196 questions and answers already graded A 
What is a transaction? - Answer ️️ -Two parties exchanging something of value 
What is the effect of a company's accounting department maintaining high ethical standards? - 
Answer ️️ -The company's accounting information will increase in value. 
Why might employees be interested in their company's financial accounting information? - 
Answer ️️ -Financial statement data are often used in determining employee bonuses. 
Which group es...
WGU D196 Questions and Answers 100% Pass
WGU D196 Questions and Answers 100% Pass 
1. Which budget should include all production costs other than those for direct materials and 
direct labor? 
A.Sales budget 
B.Direct materials budget 
C.Manufacturing overhead budget 
D. Production budget - Answer ️️ -c 
2. Which account is a common asset account? 
A.Accounts payables 
B.Equity 
C.Accounts receivable 
D. Utilities Expense - Answer ️️ -c 
3 .On which financial statement would you see the valuation of a company's asset accounts?...
- Exam (elaborations)
- • 24 pages •
WGU D196 Questions and Answers 100% Pass 
1. Which budget should include all production costs other than those for direct materials and 
direct labor? 
A.Sales budget 
B.Direct materials budget 
C.Manufacturing overhead budget 
D. Production budget - Answer ️️ -c 
2. Which account is a common asset account? 
A.Accounts payables 
B.Equity 
C.Accounts receivable 
D. Utilities Expense - Answer ️️ -c 
3 .On which financial statement would you see the valuation of a company's asset accounts?...
D196 WGU Questions and Answers with Verified Solutions| 2024
D196 WGU Questions and Answers with 
Verified Solutions| 2024 
What is the effect of a company's accounting department maintaining high ethical standards? 
The company can hire fewer accountants to do the same amount of work. 
The company's accounting information will decrease in value. 
The company can report more favorable results in its financial statements. 
The company's accounting information will increase in value. - Answer ️️ -The company's 
accounting information will increase i...
- Exam (elaborations)
- • 13 pages •
D196 WGU Questions and Answers with 
Verified Solutions| 2024 
What is the effect of a company's accounting department maintaining high ethical standards? 
The company can hire fewer accountants to do the same amount of work. 
The company's accounting information will decrease in value. 
The company can report more favorable results in its financial statements. 
The company's accounting information will increase in value. - Answer ️️ -The company's 
accounting information will increase i...
wgu d196 pre assessment questions and answers already passed
wgu d196 pre assessment questions and answers already passed 
What is an example of direct materials? 
Cost of robotic equipment in making automobiles 
Cost of sandpaper in making wood furniture 
Cost of saws and hammers in constructing a house 
Cost of aluminum in making an airplane - Answer ️️ -Cost of aluminum in making an airplane 
What is the effect of a company's accounting department maintaining high ethical standards? 
The company can hire fewer accountants to do the same amount of ...
- Exam (elaborations)
- • 15 pages •
wgu d196 pre assessment questions and answers already passed 
What is an example of direct materials? 
Cost of robotic equipment in making automobiles 
Cost of sandpaper in making wood furniture 
Cost of saws and hammers in constructing a house 
Cost of aluminum in making an airplane - Answer ️️ -Cost of aluminum in making an airplane 
What is the effect of a company's accounting department maintaining high ethical standards? 
The company can hire fewer accountants to do the same amount of ...
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INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
the answers are incorrect