C213 Accounting for Decision Makers WGU exam questions with 100% correct answers.

Balance Sheet - financial position of company at a moment in time Income Statement - Financial performance of the company over a period of time Statement of cash flows - cash receipts and disbursements of company over a period of time Lender - Predict ability to repay loans Investors - Predict future earnings and dividends Suppliers & Customers - ability to pay for goods and honor contracts Company management - analyze company's strengths and weaknesses Accounting equation - Assets = Liabilities + Owner's Equity Assets - resources, typically owned by the company Liabilities - Obligations or debts of the company Owners equity - direct and indirect investments owners (stockholders) have made Liquidity - the ease with which an asset can be converted into cash