WGU C213 Accounting for Decision
Makers Exam (Latest Update )
Questions & Answers 100% Correct -
(Grade A)
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 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
, 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
The Securities and Exchange Commission (SEC) - correct answer the organization that
regulates U.S. stock exchanges and seeks to create a fair information environment in
which investors can buy and sell stocks without fear that companies are hiding or
manipulating financial data
American Institute of Certified Public Accountants (AICPA) - correct answer the
professional organization of certified public accountants (CPAs) in the United States
Makers Exam (Latest Update )
Questions & Answers 100% Correct -
(Grade A)
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 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
, 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
The Securities and Exchange Commission (SEC) - correct answer the organization that
regulates U.S. stock exchanges and seeks to create a fair information environment in
which investors can buy and sell stocks without fear that companies are hiding or
manipulating financial data
American Institute of Certified Public Accountants (AICPA) - correct answer the
professional organization of certified public accountants (CPAs) in the United States
