WGU C213 ACCOUNTING FOR
DECISION MAKERS 2025-2026
QUESTIONS AND ANSWERS 100%
CORRECT & ACCURATE.
Accountingk-kCORRECTkANSWER-thekrecordingkofkthekday-to-
daykfinancialkactivitieskofkakcompanykandkthekorganizationkofkthatkinformationkintoksum
marykreportskusedktokevaluatekthekcompany'skfinancialkstatus
Bookkeepingk-kCORRECTkANSWER-
thekpreservationkofkaksystematic,kquantitativekrecordkofkankactivity
accountingksystemk-kCORRECTkANSWER-
usedkbykakbusinessktokhandlekroutinekbookkeepingktaskskandktokstructurekthekinformati
onksokitkcankbekusedktokevaluatekthekperformancekandkfinancialkstatuskofkthekbusiness
Accountingkinformationk-kCORRECTkANSWER-
Infokthatkiskintendedktokbekusefulkinkmakingkdecisionskaboutkthekfuture.
Thekbalanceksheet,kthekincomekstatement,kandkthekstatementkofkcashflowsk-
kCORRECT kANSWER-Whatkarekthekthreekprimary kfinancial kstatements?
ExternalkUsersk-kCORRECTkANSWER-
Whokiskfinancialkaccountingkinformationkprimarilykpreparedkforkandkusedkby?
ManagerialkAccountingk-kCORRECTkANSWER-
theknamekgivenktokaccountingksystemskdesignedkforkinternalkusers
BalancekSheetk-kCORRECTkANSWER-
Reportskakcompany'skassets,kliabilities,kandkowners'kequity
IncomekStatementk-kCORRECTkANSWER-
reportskthekamountkofknetkincomekearnedkbykakcompanykduringkakperiod
Netkincomek-kCORRECTkANSWER-
thekexcesskofkakcompany'skrevenueskoverkitskexpenses
statementkofkcashkflowsk-kCORRECTkANSWER-
reportskthekamountkofkcashkcollectedkandkpaidkoutkbykakcompanykinkthekfollowingkthree
ktypeskofkactivities:koperating,kinvesting,kandkfinancing
, FASBk-kCORRECTkANSWER-
WhichkprivatekbodykestablisheskaccountingkruleskinkthekU.S.?
FinancialkAccountingkStandardskBoardk(FASB)k-kCORRECTkANSWER-
akprivatekbodykestablishedkandksupportedkbykthekjointkeffortskofkthekU.S.kbusinesskcom
munity,kfinancialkanalysts,kandkpracticingkaccountants
ThekSecuritieskandkExchangekCommissionk(SEC)k-kCORRECTkANSWER-
thekorganizationkthatkregulateskU.S.kstockkexchangeskandkseeksktokcreatekakfairkinform
ationkenvironmentkinkwhichkinvestorskcankbuykandksellkstockskwithoutkfearkthatkcompani
eskarekhidingkorkmanipulatingkfinancialkdata
AmericankInstitutekofkCertifiedkPublickAccountantsk(AICPA)k-kCORRECTkANSWER-
thekprofessionalkorganizationkofkcertifiedkpublickaccountantsk(CPAs)kinkthekUnitedkState
s
PublickCompanykAccountingkOversightkBoardk(PCAOB)k-kCORRECTkANSWER-
thekorganizationkthatkinspectskthekauditkpracticeskofkregisteredkauditkfirmskandkhaskstat
utorykauthorityktokinvestigatekquestionablekauditkpracticeskandktokimposeksanctionsksuc
hkaskbarringkankauditkfirmkfromkauditingkSEC-registeredkcompanies
InternalkRevenuekServicek(IRS)k-kCORRECTkANSWER-
Gov'tkagencykthatkestablisheskrulesktokdefinekexactlykwhenkincomekshouldkbektaxed.kItk
hasknokrolekinksettingkfinancialkaccountingkrules;kandkakcompany'skfinancialkstatementsk
areknotkusedkinkdeterminingkhowkmuchktaxkthekcompanykmustkpay
ThekInternationalkAccountingkStandardskBoardk(IASB)k-kCORRECTkANSWER-
Organizationkthatkwaskformedktokdevelopkakcommonksetkofkworldwidekaccountingkstand
ards.kItskstandardskarekincreasinglykacceptedkworldwide,kbutkFASBkruleskarekstillkthekst
andardkinkthekUnitedkStates.
1.kRapidkAdvancementskinkthekITkfield
2.kthekinternationalkintegrationkofkworldwidekbusiness
3.kIncreasedkscrutinykassociatedkwithklargekcorporatekaccountingkscandalsk-
kCORRECT kANSWER-
Whichk3kfactorskhavekcombinedktokmakekrightknowkaktimekofksignificantkchangekinkacco
unting?
Sarbanes-OxleykActk-kCORRECTkANSWER-
Akwavekofkaccountingkscandalskstartingkink2001kresultedkinkthiskact,kwhichkincreaseskU.
S.kfederalkgovernmentkscrutinykofkthekproductionkofkfinancialkstatements.
BalancekSheetk-kCORRECTkANSWER-
reportskakcompany'skfinancialkpositionkatkakspecifiedkpointkinktimekandklistskthekcompan
y'skresourcesk(assets),kobligationsk(liabilities),kandknetkownershipkinterestk(owners'kequi
ty).
DECISION MAKERS 2025-2026
QUESTIONS AND ANSWERS 100%
CORRECT & ACCURATE.
Accountingk-kCORRECTkANSWER-thekrecordingkofkthekday-to-
daykfinancialkactivitieskofkakcompanykandkthekorganizationkofkthatkinformationkintoksum
marykreportskusedktokevaluatekthekcompany'skfinancialkstatus
Bookkeepingk-kCORRECTkANSWER-
thekpreservationkofkaksystematic,kquantitativekrecordkofkankactivity
accountingksystemk-kCORRECTkANSWER-
usedkbykakbusinessktokhandlekroutinekbookkeepingktaskskandktokstructurekthekinformati
onksokitkcankbekusedktokevaluatekthekperformancekandkfinancialkstatuskofkthekbusiness
Accountingkinformationk-kCORRECTkANSWER-
Infokthatkiskintendedktokbekusefulkinkmakingkdecisionskaboutkthekfuture.
Thekbalanceksheet,kthekincomekstatement,kandkthekstatementkofkcashflowsk-
kCORRECT kANSWER-Whatkarekthekthreekprimary kfinancial kstatements?
ExternalkUsersk-kCORRECTkANSWER-
Whokiskfinancialkaccountingkinformationkprimarilykpreparedkforkandkusedkby?
ManagerialkAccountingk-kCORRECTkANSWER-
theknamekgivenktokaccountingksystemskdesignedkforkinternalkusers
BalancekSheetk-kCORRECTkANSWER-
Reportskakcompany'skassets,kliabilities,kandkowners'kequity
IncomekStatementk-kCORRECTkANSWER-
reportskthekamountkofknetkincomekearnedkbykakcompanykduringkakperiod
Netkincomek-kCORRECTkANSWER-
thekexcesskofkakcompany'skrevenueskoverkitskexpenses
statementkofkcashkflowsk-kCORRECTkANSWER-
reportskthekamountkofkcashkcollectedkandkpaidkoutkbykakcompanykinkthekfollowingkthree
ktypeskofkactivities:koperating,kinvesting,kandkfinancing
, FASBk-kCORRECTkANSWER-
WhichkprivatekbodykestablisheskaccountingkruleskinkthekU.S.?
FinancialkAccountingkStandardskBoardk(FASB)k-kCORRECTkANSWER-
akprivatekbodykestablishedkandksupportedkbykthekjointkeffortskofkthekU.S.kbusinesskcom
munity,kfinancialkanalysts,kandkpracticingkaccountants
ThekSecuritieskandkExchangekCommissionk(SEC)k-kCORRECTkANSWER-
thekorganizationkthatkregulateskU.S.kstockkexchangeskandkseeksktokcreatekakfairkinform
ationkenvironmentkinkwhichkinvestorskcankbuykandksellkstockskwithoutkfearkthatkcompani
eskarekhidingkorkmanipulatingkfinancialkdata
AmericankInstitutekofkCertifiedkPublickAccountantsk(AICPA)k-kCORRECTkANSWER-
thekprofessionalkorganizationkofkcertifiedkpublickaccountantsk(CPAs)kinkthekUnitedkState
s
PublickCompanykAccountingkOversightkBoardk(PCAOB)k-kCORRECTkANSWER-
thekorganizationkthatkinspectskthekauditkpracticeskofkregisteredkauditkfirmskandkhaskstat
utorykauthorityktokinvestigatekquestionablekauditkpracticeskandktokimposeksanctionsksuc
hkaskbarringkankauditkfirmkfromkauditingkSEC-registeredkcompanies
InternalkRevenuekServicek(IRS)k-kCORRECTkANSWER-
Gov'tkagencykthatkestablisheskrulesktokdefinekexactlykwhenkincomekshouldkbektaxed.kItk
hasknokrolekinksettingkfinancialkaccountingkrules;kandkakcompany'skfinancialkstatementsk
areknotkusedkinkdeterminingkhowkmuchktaxkthekcompanykmustkpay
ThekInternationalkAccountingkStandardskBoardk(IASB)k-kCORRECTkANSWER-
Organizationkthatkwaskformedktokdevelopkakcommonksetkofkworldwidekaccountingkstand
ards.kItskstandardskarekincreasinglykacceptedkworldwide,kbutkFASBkruleskarekstillkthekst
andardkinkthekUnitedkStates.
1.kRapidkAdvancementskinkthekITkfield
2.kthekinternationalkintegrationkofkworldwidekbusiness
3.kIncreasedkscrutinykassociatedkwithklargekcorporatekaccountingkscandalsk-
kCORRECT kANSWER-
Whichk3kfactorskhavekcombinedktokmakekrightknowkaktimekofksignificantkchangekinkacco
unting?
Sarbanes-OxleykActk-kCORRECTkANSWER-
Akwavekofkaccountingkscandalskstartingkink2001kresultedkinkthiskact,kwhichkincreaseskU.
S.kfederalkgovernmentkscrutinykofkthekproductionkofkfinancialkstatements.
BalancekSheetk-kCORRECTkANSWER-
reportskakcompany'skfinancialkpositionkatkakspecifiedkpointkinktimekandklistskthekcompan
y'skresourcesk(assets),kobligationsk(liabilities),kandknetkownershipkinterestk(owners'kequi
ty).
