WGU C213 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

Accounting A system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions." Balance Sheet Document which reports the resources of a company (the assets), the company's obligations (the liabilities), and the owners' equity, which represents how much money has been invested in the company by its owners. American Institute of Certified Public Accountants (AICPA) The professional organization of certified public accountants in the United States. Bookkeeping The preservation of a systematic, quantitative record of an activity. Certified Public Accountant A person who has taken a minimum number of college-level accounting classes, has passed the dreaded CPA exam, and has met other requirements set by his or her state. Financial Accounting The name given to accounting information provided for and used by external users. Financial Accounting