WGU C213 ACCOUNTING FOR DECISION MAKERS LATEST 87 REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)

WGU C213 ACCOUNTING FOR DECISION MAKERS LATEST 87 REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) l 1. What does accounting focus on ?The impact a business's activitieshave on its overall financial performance 2. Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time State- ment of cash flows 3. Which users would have a primary concern with an organization's ability to provide healthcare benefits Employees 4. Which body regulates a certified public accounting firm's audit practices when the firm is auditing a large publicly traded company ThePublic Com- pany Accounting Oversight Board (PCAOB) 5. What has had the most significant impact on accounting practices Infor- mation technology 6. What two items of information are revealed on the balance sheet? Choose 2 answers: Ownership. Debt 7. Which term is defined as the residual interest in the net assets of a company Owners' equity 8. A corporation has total liabilities of $300 million, total owners' equity of $100 million, and current assets of $50 million. What is the value of the firm's long-term assets $350 million 9. Which situation should result in revenue recognition on the income statement for the year ending 12/31/14 if the firm is using accrual-basis accounting In 2014, a company provides services to a customer for which cashwill be collected the next year (2015). 10. Which category on the statement of cash flows summarizes cash receipts and payments to owners and creditors of the company Cash flows from financing activities 11. Where would an investor find a summary of a company's significant accounting policies In the notes to financial statements