WGU C213 Accounting for Decision Makers_ Exam (Questions and Answers) 100% A+ Graded

WGU C213 Accounting for Decision Makers_ Exam (Questions and Answers) 100% A+ Graded Accounting - CORRECT ANSWER-the recording of the day-to-day financial activities of a company and the organization of that information into summary reports used to evaluate the company's financial status Bookkeeping - CORRECT ANSWER-the preservation of a systematic, quantitative record of an activity accounting system - CORRECT ANSWER-used by a business to handle routine bookkeeping tasks and to structure the information so it can be used to evaluate the performance and financial status of the business Accounting information - CORRECT ANSWER-Info that is intended to be useful in making decisions about the future. The balance sheet, the income statement, and the statement of cashflows - CORRECT ANSWER-What are the three primary financial statements? External Users - CORRECT ANSWER-Who is financial accounting information primarily prepared for and used by? Managerial Accounting - CORRECT ANSWER-the name given to accounting systems designed for internal users Balance Sheet - CORRECT ANSWER-Reports a company's assets, liabilities, and owners' equity Income Statement - CORRECT ANSWER-reports the amount of net income earned by a company during a period Net income - CORRECT ANSWER-the excess of a company's revenues over its expenses