WGU C213 ACCOUNTING FOR DECISION MAKERS
OBJECTIVE ASSESSMENT (OA) ACTUAL TEST 2025
COMPLETE ACTUAL QUESTIONS AND CORRECT
DETAILED ANSWERS (CORRECT VERIFIED SOLUTIONS) A
NEW UPDATED VERSION 2025 |GUARANTEED PASS A+ WGU
C213
The financial statement that presents a summary of the revenues
and expenses of a business for a specific period of time, such as
a month or a year, is called a(n)
Answer- Income Statement
3 multiple choice options
Which of the following activities would NOT be classified as an
investing activity?
Answer- Purchase of inventory
3 multiple choice options
A major source of cash from operating activities is
,Answer- Receipts from sale of goods
3 multiple choice options
Which of the following classifications refers to those activities
associated with buying and selling long-term assets?
Answer- Investing
3 multiple choice options
Which of the following classifications does NOT appear on the
Statement of Cash Flows?
Answer- Borrowing
3 multiple choice options
Vital information that CANNOT be captured solely by dollar
amounts is reported in a firm's
Answer- Notes to financial statements
,3 multiple choice options
Which of the following is NOT one of the four general types of
financial statement notes?
Answer- Supplementary information required by the Internal
Revenue Service
3 multiple choice options
Which of the following is an example of a significant accounting
policy that would be explained in the notes to the financial
statements?
Answer- The method used to estimate depreciation on a piece of
equipment
3 multiple choice options
, Which of the following is an example of a disclosure of
information NOT recognized that would be explained in the
notes to the financial statements?
Answer- The disclosure of the uncertain, potential outcome of a
lawsuit
3 multiple choice options
Which of the following is an example of additional information
about summary totals that would be explained in the notes to the
financial statements?
Answer- The description of all the individual items that
comprise notes payable
3 multiple choice options
An independent audit report is usually issued by
Answer- A certified public accountant
3 multiple choice options
OBJECTIVE ASSESSMENT (OA) ACTUAL TEST 2025
COMPLETE ACTUAL QUESTIONS AND CORRECT
DETAILED ANSWERS (CORRECT VERIFIED SOLUTIONS) A
NEW UPDATED VERSION 2025 |GUARANTEED PASS A+ WGU
C213
The financial statement that presents a summary of the revenues
and expenses of a business for a specific period of time, such as
a month or a year, is called a(n)
Answer- Income Statement
3 multiple choice options
Which of the following activities would NOT be classified as an
investing activity?
Answer- Purchase of inventory
3 multiple choice options
A major source of cash from operating activities is
,Answer- Receipts from sale of goods
3 multiple choice options
Which of the following classifications refers to those activities
associated with buying and selling long-term assets?
Answer- Investing
3 multiple choice options
Which of the following classifications does NOT appear on the
Statement of Cash Flows?
Answer- Borrowing
3 multiple choice options
Vital information that CANNOT be captured solely by dollar
amounts is reported in a firm's
Answer- Notes to financial statements
,3 multiple choice options
Which of the following is NOT one of the four general types of
financial statement notes?
Answer- Supplementary information required by the Internal
Revenue Service
3 multiple choice options
Which of the following is an example of a significant accounting
policy that would be explained in the notes to the financial
statements?
Answer- The method used to estimate depreciation on a piece of
equipment
3 multiple choice options
, Which of the following is an example of a disclosure of
information NOT recognized that would be explained in the
notes to the financial statements?
Answer- The disclosure of the uncertain, potential outcome of a
lawsuit
3 multiple choice options
Which of the following is an example of additional information
about summary totals that would be explained in the notes to the
financial statements?
Answer- The description of all the individual items that
comprise notes payable
3 multiple choice options
An independent audit report is usually issued by
Answer- A certified public accountant
3 multiple choice options
