WGU C213 Final Exam: ACCOUNTING FOR
DECISION MAKERS 2025 update|comprehensive
questions and verified answers (complete
solutions) Exam|GRADE A+!!
Save
Terms in this set (143)
the recording of the day-to-day financial activities of a
company and the organization of that information into
Accounting
summary reports used to evaluate the company's
financial status
the preservation of a systematic, quantitative record
Bookkeeping
of an activity
used by a business to handle routine bookkeeping
tasks and to structure the information so it can be
accounting system
used to evaluate the performance and financial status
of the business
Info that is intended to be useful in making decisions
Accounting information
about the future.
The balance sheet, the What are the three primary financial statements?
income statement, and the
statement of cashflows
Who is financial accounting information primarily
External Users
prepared for and used by?
, the name given to accounting systems designed for
Managerial Accounting
internal users
Reports a company's assets, liabilities, and owners'
Balance Sheet
equity
reports the amount of net income earned by a
Income Statement
company during a period
Net income the excess of a company's revenues over its expenses
reports the amount of cash collected and paid out by
statement of cash flows a company in the following three types of activities:
operating, investing, and financing
Which private body establishes accounting rules in
FASB
the U.S.?
a private body established and supported by the joint
Financial Accounting
efforts of the U.S. business community, financial
Standards Board (FASB)
analysts, and practicing accountants
the organization that regulates U.S. stock exchanges
The Securities and and seeks to create a fair information environment in
Exchange Commission which investors can buy and sell stocks without fear
(SEC) that companies are hiding or manipulating financial
data
American Institute of the professional organization of certified public
Certified Public accountants (CPAs) in the United States
Accountants (AICPA)
the organization that inspects the audit practices of
Public Company registered audit firms and has statutory authority to
Accounting Oversight investigate questionable audit practices and to
Board (PCAOB) impose sanctions such as barring an audit firm from
auditing SEC-registered companies
DECISION MAKERS 2025 update|comprehensive
questions and verified answers (complete
solutions) Exam|GRADE A+!!
Save
Terms in this set (143)
the recording of the day-to-day financial activities of a
company and the organization of that information into
Accounting
summary reports used to evaluate the company's
financial status
the preservation of a systematic, quantitative record
Bookkeeping
of an activity
used by a business to handle routine bookkeeping
tasks and to structure the information so it can be
accounting system
used to evaluate the performance and financial status
of the business
Info that is intended to be useful in making decisions
Accounting information
about the future.
The balance sheet, the What are the three primary financial statements?
income statement, and the
statement of cashflows
Who is financial accounting information primarily
External Users
prepared for and used by?
, the name given to accounting systems designed for
Managerial Accounting
internal users
Reports a company's assets, liabilities, and owners'
Balance Sheet
equity
reports the amount of net income earned by a
Income Statement
company during a period
Net income the excess of a company's revenues over its expenses
reports the amount of cash collected and paid out by
statement of cash flows a company in the following three types of activities:
operating, investing, and financing
Which private body establishes accounting rules in
FASB
the U.S.?
a private body established and supported by the joint
Financial Accounting
efforts of the U.S. business community, financial
Standards Board (FASB)
analysts, and practicing accountants
the organization that regulates U.S. stock exchanges
The Securities and and seeks to create a fair information environment in
Exchange Commission which investors can buy and sell stocks without fear
(SEC) that companies are hiding or manipulating financial
data
American Institute of the professional organization of certified public
Certified Public accountants (CPAs) in the United States
Accountants (AICPA)
the organization that inspects the audit practices of
Public Company registered audit firms and has statutory authority to
Accounting Oversight investigate questionable audit practices and to
Board (PCAOB) impose sanctions such as barring an audit firm from
auditing SEC-registered companies
