WGU C213/WGU C213 ACCOUNTING FOR DECISION MAKERS LATEST EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)

WGU C213/WGU C213 ACCOUNTING FOR DECISION MAKERS LATEST EXAM QUESTIONS AND CORRECT ANSWERS 2022- 2024 (VERIFIED ANSWERS) The emphasis in financial accounting is on which of the following external user groups? o Investors and creditors o Educators o Management o Certified public accountants The primary internal group that uses accounting information is o Management o Investors o Government agencies o Competitors Internal reports are generally used by o Suppliers o Management o Lenders o Employees Which of the following is NOT an external user of financial information? o Customers o Suppliers o Competitors o Management Which of the following is NOT true of the Financial Accounting Standards Board (FASB)? o It seeks consistency for its proposed standards o It has no legal power to enforce the standards it sets o It is a government agency o It consists of seven full-time members Generally accepted accounting principles are o Natural laws o Based on scientific proofs o Developed by accounting rule makers o None of these are correct The initials GAAP stand for o Generally Accepted Accounting Practices o General Accounting Administration Practices o Generally Applied Accounting Procedures o Generally Accepted Accounting Principles