WGU C213 Accounting for decision makers

1. The impact a business's activities have on its overall financial performance: What does accounting focus on? 2. Statement of cash flows: Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time? 3. Employees: Which users would have a primary concern with an organization's ability to provide healthcare benefits? 4. An increase in its compatibility to other companies: Which benefit does a corporation gain by following Generally Accepted Accounting Principles (GAPP)? 5. The Public Company Accounting Oversight Board (PACOB): Which body regulates a certified public accounting firm's audit practices when the firm is auditing a large publicly traded company? 6. Information technology: What has had the most significant impact on Accounting practices? 7. Ownership and Debt: What two items of information are revealed on the balance sheet? 8. Owners equity: Which term is defined as the residual in the net assets of a company? 9. In 2014, a company provides services to a customer for which cash will be collected the next year (2015).: Which situation should result in revenue recognition on the income statement for the year ending 12/31/14 if the firm is using accrual accounting? 10. Cash from financing activities: Which category on the statement of cash flows summarizes cash receipts and payments to owners and creditors of the company?