Wgu d076 exam/ wgu d076
financial skills for manager
latest exam 2024-2025
actual 150 questions and
correct detailed answers
(verified answers)|
Graded a+
What is the Difference Between Accounting and
Finance?✔✔✔ANSWER-- Accounting is the preparation,
evaluation and management of financial records. The score
keepers.
- Finance is the management, planning and distribution of
money. The coaches and players.
Communicates information to people internal to the
organization.-ANSWER-Managerial
Who is information communicated to in managerial
accounting?-ANSWER-Employees at all levels within entity
Information communicated consists of financial and operational
data relevant to helping the company achieve its future business
goals.-ANSWER-Managerial
Information has a future orientation.-ANSWER-Managerial
Information may be presented in any manner to facilitate
management decision making-ANSWER-Managerial
Does managerial accounting HAVE to follow GAAP?-
ANSWER-No
Information is generated as often as needed.-ANSWERManagerial
Information is generated on any segment that provides useful
information to management.-ANSWER-Managerial
Divisions, Product lines, customers, and geographic regions all
fall under...-ANSWER-Managerial
Sarbanes-Oxley Act✔✔✔ANSWER-- Goal: To improve
corporate governance and ethical accountability & protect
investors from fraudulent and erroneous accounting activities
- Law created by Public Company Accounting Oversight Board
(PCAOB)
- Banned business relationships that might create conflicts of
interest between CPA firms and the companies they audit.
-
3 types of activities businesses engage in:✔✔✔ANSWER-1)
Financing: Debt Financing (Borrowing) and
Equity Financing (Sell "share of ownership" in company
(stock))
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