WGU C213 Accounting for Decision Makers | Practice Questions, Answers & Exam Review 2026/2027

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WGU C213/WGU C213 ACCOUNTING FOR DECISION MAKERS
LATEST EXAM QUESTIONS AND CORRECT ANSWERS 2022-
2024 (VERIFIED ANSWERS)




The emphasis in financial accounting is on which of the following external user
groups?


o Investors and creditors
o Educators
o Management
o Certified public accountants
The primary internal group that uses accounting information is


o Management
o Investors
o Government agencies
o Competitors
Internal reports are generally used by


o Suppliers
o Management
o Lenders
o Employees
Which of the following is NOT an external user of financial information?


o Customers
o Suppliers
o Competitors
o Management
Which of the following is NOT true of the Financial Accounting Standards Board
(FASB)?


o It seeks consistency for its proposed standards
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o It has no legal power to enforce the standards it sets




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o It is a government agency
o It consists of seven full-time members
Generally accepted accounting principles are


o Natural laws
o Based on scientific proofs
o Developed by accounting rule makers
o None of these are correct
The initials GAAP stand for


o Generally Accepted Accounting Practices
o General Accounting Administration Practices
o Generally Applied Accounting Procedures
o Generally Accepted Accounting Principles
The current standard-setting board for accounting in the private sector is the


o Financial Accounting Standards Board (FASB)
o Securities and Exchange Commission (SEC)
o American Accounting Association (AAA)
o International Accounting Standards Board (IASB)
Which of the following is NOT a service typically provided by large public
accounting firms?


o Performing audits
o Making management decisions
o Establishing accounting systems
o Redesigning operating procedures
Standards established by the International Accounting Standards Board are
referred to as


o International Financial Reporting Standards




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