Free Worldatwork T7 Exam Actual Questions

The questions for T7 were last updated On Nov 6, 2024

Question No. 1

Which of the following is the best description of liquidity?

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Correct Answer: C

Question No. 2

Current assets comprise assets that can be converted to cash. They must be converted within what time period?

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Correct Answer: B

Question No. 3

Why is faithful representation important in accounting documentation?

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Correct Answer: C

Question No. 4

What is the reconciliation of the beginning and ending balances of stockholders' equity accounts called?

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Correct Answer: D

Question No. 5

A US-based company reports information about pending lawsuits in the notes to its financial statements. This is an example of which basic principle of accounting?

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Correct Answer: A