,WGU C213 ACCOUNTING FOR DECISION MAKERS OBJECTIVE
ASSESSMENT EXAM All Possible Questions and Answers | 2025
Update
Accounting information - CORRECT ANSWER-Info that is intended to be useful in
making decisions about the future.
The balance sheet, the income statement, and the statement of cashflows -
CORRECT ANSWER-What are the three primary financial statements?
External Users - CORRECT ANSWER-Who is financial accounting information
primarily prepared for and used by?
Managerial Accounting - CORRECT ANSWER-the name given to accounting
systems designed for internal users
Accounting - CORRECT ANSWER-the recording of the day-to-day financial
activities of a company and the organization of that information into summary
reports used to evaluate the company's financial status
Bookkeeping - CORRECT ANSWER-the preservation of a systematic, quantitative
record of an activity
accounting system - CORRECT ANSWER-used by a business to handle routine
bookkeeping tasks and to structure the information so it can be used to
evaluate the performance and financial status of the business Accounting -
CORRECT ANSWER-the recording of the day-to-day financial activities of a
, company and the organization of that information into summary reports used
to evaluate the company's financial status
Bookkeeping - CORRECT ANSWER-the preservation of a systematic, quantitative
record of an activity
accounting system - CORRECT ANSWER-used by a business to handle routine
bookkeeping tasks and to structure the information so it can be used to
evaluate the performance and financial status of the business
Balance Sheet - CORRECT ANSWER-Reports a company's assets, liabilities, and
owners' equity
Income Statement - CORRECT ANSWER-reports the amount of net income
earned by a company during a period
Net income - CORRECT ANSWER-the excess of a company's revenues over its
expenses
statement of cash flows - CORRECT ANSWER-reports the amount of cash
collected and paid out by a company in the following three types of activities:
operating, investing, and financing
FASB - CORRECT ANSWER-Which private body establishes accounting rules in
the U.S.?
Financial Accounting Standards Board (FASB) - CORRECT ANSWER-a private body
established and supported by the joint efforts of the U.S. business community,
financial analysts, and practicing accountants
ASSESSMENT EXAM All Possible Questions and Answers | 2025
Update
Accounting information - CORRECT ANSWER-Info that is intended to be useful in
making decisions about the future.
The balance sheet, the income statement, and the statement of cashflows -
CORRECT ANSWER-What are the three primary financial statements?
External Users - CORRECT ANSWER-Who is financial accounting information
primarily prepared for and used by?
Managerial Accounting - CORRECT ANSWER-the name given to accounting
systems designed for internal users
Accounting - CORRECT ANSWER-the recording of the day-to-day financial
activities of a company and the organization of that information into summary
reports used to evaluate the company's financial status
Bookkeeping - CORRECT ANSWER-the preservation of a systematic, quantitative
record of an activity
accounting system - CORRECT ANSWER-used by a business to handle routine
bookkeeping tasks and to structure the information so it can be used to
evaluate the performance and financial status of the business Accounting -
CORRECT ANSWER-the recording of the day-to-day financial activities of a
, company and the organization of that information into summary reports used
to evaluate the company's financial status
Bookkeeping - CORRECT ANSWER-the preservation of a systematic, quantitative
record of an activity
accounting system - CORRECT ANSWER-used by a business to handle routine
bookkeeping tasks and to structure the information so it can be used to
evaluate the performance and financial status of the business
Balance Sheet - CORRECT ANSWER-Reports a company's assets, liabilities, and
owners' equity
Income Statement - CORRECT ANSWER-reports the amount of net income
earned by a company during a period
Net income - CORRECT ANSWER-the excess of a company's revenues over its
expenses
statement of cash flows - CORRECT ANSWER-reports the amount of cash
collected and paid out by a company in the following three types of activities:
operating, investing, and financing
FASB - CORRECT ANSWER-Which private body establishes accounting rules in
the U.S.?
Financial Accounting Standards Board (FASB) - CORRECT ANSWER-a private body
established and supported by the joint efforts of the U.S. business community,
financial analysts, and practicing accountants
