Worldatwork c8 60 Practice Questions| TestInsights

Question 1

The Alpha company ships an order to a customer on March 1st and invoices the customer for the product with the shipment, with payment terms of net 30 days. The customer's payment is received on April 5th. The payment clears the bank and shows on Alpha's account on April 8th. If Alpha is using accrual accounting, when does it record the revenue for this sale?

AMarch 1st

BMarch 31st

CApril 5th

DApril 8th

Correct : A

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AMarch 1st

BMarch 31st

CApril 5th

DApril 8th

Question 2

What is the most accurate statement regarding forecasting?

AIt is a precise estimate of what the future holds for the organization.

BIt is done primarily by using historical revenue and expense data.

CIt is done primarily by evaluating market conditions and economic indicators.

DIt uses internal and external factors to help answer questions about business expectations for the future.

Correct : D

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AIt is a precise estimate of what the future holds for the organization.

BIt is done primarily by using historical revenue and expense data.

CIt is done primarily by evaluating market conditions and economic indicators.

DIt uses internal and external factors to help answer questions about business expectations for the future.

Question 3

What best describes what forecasting helps the organization to do?

ARecognize possible issues and concerns that will drive budget planning

BPrepare quarterly and annual reports and their associated statements

CWithhold payroll taxes for all elements of compensation

DAnticipate future capital needs by determining when the organization will enter the next phase of the business lifecycle

Correct : A

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ARecognize possible issues and concerns that will drive budget planning

BPrepare quarterly and annual reports and their associated statements

CWithhold payroll taxes for all elements of compensation

DAnticipate future capital needs by determining when the organization will enter the next phase of the business lifecycle

Question 4

What is the term for the skills, technologies, applications and practices of continuous iterative exploration and investigation of past business performance used to gain insight and drive business planning?

ABusiness forecasting

BBusiness analytics

CPredictive modeling

DStatistical analysis

Correct : B

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ABusiness forecasting

BBusiness analytics

CPredictive modeling

DStatistical analysis

Question 5

Regarding presentations to executives, which of the following is most accurate?

AKeep them brief

BUse multiple media

CInclude all details related to the issue

DLeave backup data out of the presentation so there is time to develop an effective response to unexpected questions

Correct : A

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AKeep them brief

BUse multiple media

CInclude all details related to the issue

DLeave backup data out of the presentation so there is time to develop an effective response to unexpected questions

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