WGU C213. PRE-ASSESSMENT: ACCOUNTING
FOR DECISION MAKERS PVAC/ KEY QUESTIONS
WITH 100% CORRECT ANSWERS.
Terms in this set (69)
1. What does accounting O The impact a business's activities have on its overall financial
focus on? performance
O The impact a business's
activities have on its public
image
O The impact a business's
activities have on its
relationship with customers
O The impact a business's
activities have on the
environment
O The impact a business's
activities have on its overall
financial performance
,2. Which report O Statement of Cash Flows
summarizes cash
collections and cash
expenditures from
operating, investing, and
financing activities over a
period of time? O
Statement of Cash
Flows
O Cash flow schedule O
Summary of cash
receipts
O Cash receipts and
disbursements
O Employees
3. Which users would have a
primary concern with an
organization's ability to
provide healthcare benefits?
O Suppliers
O Employees
O Vendors
O Competitors
,4. Which benefit does a O An increase in its comparability to other companies
corporation gain by
following Generally
Accepted Accounting
Principals (GAAP)?
O An increase in the amount
of assets it reports O A
decrease in its income tax
obligations O A decrease in
the amount of net income it
reports
O An increase in its
comparability to other
companies
O The Public Company Accounting Oversight Board
5. Which body regulates a (PCAOB)
certified public accounting
firm's audit practices when
the firm is auditing a large
publicly traded company?
O Another certified
accounting firm (CPA) O
The Public Company
Accounting Oversight
Board (PCAOB)
O The internal revenue
service (IRS)
O The financial accounting
standards board (FASB)
, 6. What has had the most O Information Technology
significant impact on
accounting practices?
O New product innovations
O Mobile computing O
Certification
requirements
O Information Technology
7. What two items of O Debt
information are revealed O Ownership
on the balance sheet?
Choose 2 answers
O Costs
O Revenues
O Debt
O Expenses
O Ownership
8. Which term is defined as O Owner's Equity
the residual interest in the
net assets of a company?
O Owner's Equity
O Revenues
O Operating Income
O Liabilities
FOR DECISION MAKERS PVAC/ KEY QUESTIONS
WITH 100% CORRECT ANSWERS.
Terms in this set (69)
1. What does accounting O The impact a business's activities have on its overall financial
focus on? performance
O The impact a business's
activities have on its public
image
O The impact a business's
activities have on its
relationship with customers
O The impact a business's
activities have on the
environment
O The impact a business's
activities have on its overall
financial performance
,2. Which report O Statement of Cash Flows
summarizes cash
collections and cash
expenditures from
operating, investing, and
financing activities over a
period of time? O
Statement of Cash
Flows
O Cash flow schedule O
Summary of cash
receipts
O Cash receipts and
disbursements
O Employees
3. Which users would have a
primary concern with an
organization's ability to
provide healthcare benefits?
O Suppliers
O Employees
O Vendors
O Competitors
,4. Which benefit does a O An increase in its comparability to other companies
corporation gain by
following Generally
Accepted Accounting
Principals (GAAP)?
O An increase in the amount
of assets it reports O A
decrease in its income tax
obligations O A decrease in
the amount of net income it
reports
O An increase in its
comparability to other
companies
O The Public Company Accounting Oversight Board
5. Which body regulates a (PCAOB)
certified public accounting
firm's audit practices when
the firm is auditing a large
publicly traded company?
O Another certified
accounting firm (CPA) O
The Public Company
Accounting Oversight
Board (PCAOB)
O The internal revenue
service (IRS)
O The financial accounting
standards board (FASB)
, 6. What has had the most O Information Technology
significant impact on
accounting practices?
O New product innovations
O Mobile computing O
Certification
requirements
O Information Technology
7. What two items of O Debt
information are revealed O Ownership
on the balance sheet?
Choose 2 answers
O Costs
O Revenues
O Debt
O Expenses
O Ownership
8. Which term is defined as O Owner's Equity
the residual interest in the
net assets of a company?
O Owner's Equity
O Revenues
O Operating Income
O Liabilities
