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WGU Financial Management VBC1 Sample Questions:
1. Kretsmart anticipates its sales will grow by 10% each year for the next two years . Information from the company's current income statement is given below, and Cost of Goods Sold (COGS) is assumed to be a spontaneous account .
What would the company's projected gross margin for Year 2 ?
A) $66.55
B) $71.25
C) $59.45
D) $76.00
2. Use Whole Pine Inc.'s financial statements for 20X3 below to answer the following question.
What is Whole Pine Inc.'s quick ratio for 20X3?

A) 0.65
B) 2.50
C) 0.15
D) 4.00
3. What is the bid-ask spread?
A) The difference between the price at which a specialist buys and sells a stock
B) The commission charged by brokers for each transaction
C) The range between the highest and lowest stock prices in a day
D) The current market price of a stock less its initial public offering listing price
4. Which group does the Securities and Exchange Commission (SEC) work with closely to oversee broker- dealers?
A) The Federal Reserve
B) The Financial Industry Regulatory Authority (FINRA)
C) The Commodity Futures Trading Commission (CFTC)
D) The Federal Deposit Insurance Corporation (FDIC)
5. What is the significance of Section 302 of the Sarbanes-Oxley Act (SOX)?
A) It requires the external auditor to take responsibility for financial accuracy.
B) It relaxes the requirements for internal control.
C) It allows companies to opt out of internal control reporting.
D) It requires management to certify the accuracy of financial reports.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: D |

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