WGU C213 ACCOUNTING FOR DECISION
MAKERS | OA| OBJECTIVE ASSESMENT
Correct 82
Incorrect 00
1 of 82
Definition
What are some common business activities that generate revenue?
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selling goods, providing
leasing vehicles, purchasing
services, Earning interest by
supplies, borrowing funds
providing loans
renting properties, buying managing inventory, paying salaries,
equipment, issuing stock investing in bonds
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2 of 82
Definition
,Equation to calculate net income
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(revenues-expense= net
Income from Continuing Operations
income)
Return on sales is computed as net Property, plant, and equipment
income divided by sales (PPE)
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3 of 82
Definition
an asset that is expected to be used within one year of the balance
sheet date
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tangible assets current liability
current asset fixed asset
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4 of 82
,Definition
What is the first item that is usually listed on a U.S. balance sheet?
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Inventory Cash
Treasury Stock Sales
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5 of 82
Definition
Amount investors are willing to pay for each dollar of earnings;
indication of growth potential
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Asset Turnover
Income from discontinued
operations and extraordinary items Sales/
Total Assets
Price-earnings Ratio Current Ratio
Market Value of Shares/ Current Assets/
Net Income Current Liabilities
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, 6 of 82
Definition
Do gains/losses reported on the income statement arise from
internal or external activities?
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Technical Internal
External Discretionary
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7 of 82
Definition
What are the 4 general types of accounting notes?
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External Users
1. Summary of accounting policy
2. Additional info about summary totals
3. Disclosure of info not included in summary
4. Supplemental disclosure required by FASB or SEC
MAKERS | OA| OBJECTIVE ASSESMENT
Correct 82
Incorrect 00
1 of 82
Definition
What are some common business activities that generate revenue?
Give this one a try later!
selling goods, providing
leasing vehicles, purchasing
services, Earning interest by
supplies, borrowing funds
providing loans
renting properties, buying managing inventory, paying salaries,
equipment, issuing stock investing in bonds
Don't know?
2 of 82
Definition
,Equation to calculate net income
Give this one a try later!
(revenues-expense= net
Income from Continuing Operations
income)
Return on sales is computed as net Property, plant, and equipment
income divided by sales (PPE)
Don't know?
3 of 82
Definition
an asset that is expected to be used within one year of the balance
sheet date
Give this one a try later!
tangible assets current liability
current asset fixed asset
Don't know?
4 of 82
,Definition
What is the first item that is usually listed on a U.S. balance sheet?
Give this one a try later!
Inventory Cash
Treasury Stock Sales
Don't know?
5 of 82
Definition
Amount investors are willing to pay for each dollar of earnings;
indication of growth potential
Give this one a try later!
Asset Turnover
Income from discontinued
operations and extraordinary items Sales/
Total Assets
Price-earnings Ratio Current Ratio
Market Value of Shares/ Current Assets/
Net Income Current Liabilities
Don't know?
, 6 of 82
Definition
Do gains/losses reported on the income statement arise from
internal or external activities?
Give this one a try later!
Technical Internal
External Discretionary
Don't know?
7 of 82
Definition
What are the 4 general types of accounting notes?
Give this one a try later!
External Users
1. Summary of accounting policy
2. Additional info about summary totals
3. Disclosure of info not included in summary
4. Supplemental disclosure required by FASB or SEC
