WGU C213 Test-Bank (Latest 2026/ 2027 Update) Accounting for Decision Makers Study Guide with Verified Answers| 100% Correct | Graded A+

WGU C213 Test-Bank (Latest 2026/ 2027
Update) Accounting for Decision Makers
Study Guide with Verified Answers| 100%
Correct | Graded A+
Question:
Certified Public Accountant?
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Answer:

A person who has taken a minimum number of college-level accounting
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classes, has passed the dreaded CPA exam, and has met other
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requirements set by his or her state. i,- i,- i,- i,- i,- i,-




Question:

Financial Accounting?i,-




Answer:

The name given to accounting information provided for and used by
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external users.i,-




Question:

Financial Accounting Standards Board (FASB)?
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Answer:

,Private, non-profit body that sets accounting standards in the United
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States.




Question:
Financial Statements? i,-




Answer:

The three primary financial information documents: the balance sheet,
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income statement, and statement of cash flows.
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Question:
Income Statement? i,-




Answer:

This document reports the amount of net income earned by a company
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during a period, with annual and quarterly income statements being the
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most common.
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Question:

Internal Revenue Service (IRS)?
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Answer:
The government agency responsible for tax collection and tax law
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enforcement.

,Question:

International Accounting Standards Board (IASB)?
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Answer:

An independent, international body formed to develop worldwide
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accounting standards. i,-




Question:

International Financial Reporting Standards (IFRS)?
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Answer:
The accounting standards produced by the IASB.
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Question:

Managerial Accounting? i,-




Answer:

The name given to accounting systems designed for internal users.
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Question:
Public Company Accounting Oversight Board (PCAOB)?
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, Answer:
A private, non-profit organization that effectively serves as an arm of the
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SEC in registering, inspecting, and disciplining the auditors of all publicly
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traded companies.
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Question:

Statement of Cash Flows? i,- i,- i,-




Answer:
This document reports the amount of cash collected and paid out by a
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company in the following three types of activities: operating, investing,
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and financing.
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Question:
Accounting Equation? i,-




Answer:
Assets = Liabilities + Owners' Equity
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Question:

Accumulated Other Comprehensive Income? i,- i,- i,-




Answer:
The source of these increased assets
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