WGU D196 - Principles of Financial and Managerial Accounting Exam Questions & Answers Graded A+

WGU D196 - Principles of Financial and Managerial Accounting Exam Questions & Answers Graded A+

Bookkeeping - Answer - day to day keeping of transactions
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(lenders)
business itself (from earnings retained)
2 main types of accounting - Answer - financial and managerial
managerial accounting - Answer - gather and analysis of information for internal use
and decision making.
financial accounting - Answer - gather, report, analysis of information for external usersinvestors and creditors. summary of a business
what does managerial accounting review - Answer - product cost, breakeven analysis,
budgeting, performance analysis, outsource production
what does financial accounting review - Answer - credit analysis, financial health,
estimate value of the company
examples of external financial reports for financial accounting - Answer - annual report,
financial statement, balance sheet, income statement, statement of cash flow