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Accounting for decision makers C213 WGU Exam
Questions And Answers |Latest 2025 | Guaranteed
Pass
Accounting - (answers)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 - (answers)the preservation of a systematic, quantitative record of
an activity
accounting system - (answers)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 - (answers)Info that is intended to be useful in making
decisions about the future.
The balance sheet, the income statement, and the statement of cashflows -
(answers)What are the three primary financial statements?
External Users - (answers)Who is financial accounting information primarily
prepared for and used by?
Managerial Accounting - (answers)the name given to accounting systems
designed for internal users
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Balance Sheet - (answers)Reports a company's assets, liabilities, and owners'
equity
Income Statement - (answers)reports the amount of net income earned by a
company during a period
Net income - (answers)the excess of a company's revenues over its expenses
statement of cash flows - (answers)reports the amount of cash collected and paid
out by a company in the following three types of activities: operating, investing,
and financing
FASB - (answers)Which private body establishes accounting rules in the U.S.?
Financial Accounting Standards Board (FASB) - (answers)a private body
established and supported by the joint efforts of the U.S. business community,
financial analysts, and practicing accountants
The Securities and Exchange Commission (SEC) - (answers)the organization that
regulates U.S. stock exchanges and seeks to create a fair information environment
in which investors can buy and sell stocks without fear that companies are hiding
or manipulating financial data
Accounting for decision makers C213 WGU Exam
Questions And Answers |Latest 2025 | Guaranteed
Pass
Accounting - (answers)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 - (answers)the preservation of a systematic, quantitative record of
an activity
accounting system - (answers)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 - (answers)Info that is intended to be useful in making
decisions about the future.
The balance sheet, the income statement, and the statement of cashflows -
(answers)What are the three primary financial statements?
External Users - (answers)Who is financial accounting information primarily
prepared for and used by?
Managerial Accounting - (answers)the name given to accounting systems
designed for internal users
, 2
Balance Sheet - (answers)Reports a company's assets, liabilities, and owners'
equity
Income Statement - (answers)reports the amount of net income earned by a
company during a period
Net income - (answers)the excess of a company's revenues over its expenses
statement of cash flows - (answers)reports the amount of cash collected and paid
out by a company in the following three types of activities: operating, investing,
and financing
FASB - (answers)Which private body establishes accounting rules in the U.S.?
Financial Accounting Standards Board (FASB) - (answers)a private body
established and supported by the joint efforts of the U.S. business community,
financial analysts, and practicing accountants
The Securities and Exchange Commission (SEC) - (answers)the organization that
regulates U.S. stock exchanges and seeks to create a fair information environment
in which investors can buy and sell stocks without fear that companies are hiding
or manipulating financial data
