WGU C213 ACCOUNTING FOR DECISION
MAKERS EXAM SCRIPT 2026 COMPLETE
QUESTIONS AND ANSWERS
◉ 2) Businesses use accounting systems to
a. Analyze transactions
b. Handle routine bookkeeping tasks
c. Evaluate the performance and health of the business
d. All of the above Answer: d. All of the above
◉ 3) Which of the following is NOT a function of accounting?
a. Executing sales transactions for organizations
b. Communicating economic information about organizations
c. Measuring economic information about organizations
d. Accumulating economic information about organizations Answer:
a. Executing sales transactions for organizations
◉ 4) Which of the following is NOT a key component of the
definition of accounting?
a. Financial
b. Decision-oriented
c. Qualitative
,d. Useful Answer: c. Qualitative
◉ 5) Which of the following is NOT typically true of accounting
information?
a. The information relates to specific accounting entities.
b. The information is primarily financial in nature.
c. The information relates to future time periods.
d. The information is quantitative in nature. Answer: d. The
information is quantitative in nature.
◉ 6) Which of the following is NOT one of the three primary
financial statements?
a. Balance Sheet
b. Income statement
c. Statement of cash flows
d. Statement of retained earnings Answer: d. Statement of retained
earnings
◉ 7) Which of the following financial statements reports a
company's resources, obligations, and owner's equity?
a. Statement of retained earnings
b. Statement of cash flows
c. Income statement
,d. Balance sheet Answer: d. Balance sheet
◉ 8) Which of the following financial statements reports the excess
of a company's revenues over its expenses?
a. Statement of retained earnings
b. Statement of cash flows
c. Income statement
d. Balance sheet Answer: c. Income statement
◉ 9) Which of the following financial statements reports the amount
of cash collected and paid out by a company?
a. Balance sheet
b. Statement of retained earnings
c. Statement of cash flows
d. Income statement Answer: c. Statement of cash flows
◉ 10) The emphasis in financial accounting is on which of the
following external user groups?
a. Management
b. Investors and creditors
c. Educators
d. Certified Public Accountants Answer: b. Investors and creditors
, ◉ 11) The primary internal group that uses accounting information
is
a. Government agencies
b. Investors
c. Management
d. Competitors Answer: c. Management
◉ 12) Internal reports are generally used by
a. Lenders
b. Management
c. Employees
d. Suppliers Answer: b. Management
◉ 13) Which of the following is NOT an external user of financial
information?
a. Competitors
b. Suppliers
c. Customers
d. Management Answer: d. Management
MAKERS EXAM SCRIPT 2026 COMPLETE
QUESTIONS AND ANSWERS
◉ 2) Businesses use accounting systems to
a. Analyze transactions
b. Handle routine bookkeeping tasks
c. Evaluate the performance and health of the business
d. All of the above Answer: d. All of the above
◉ 3) Which of the following is NOT a function of accounting?
a. Executing sales transactions for organizations
b. Communicating economic information about organizations
c. Measuring economic information about organizations
d. Accumulating economic information about organizations Answer:
a. Executing sales transactions for organizations
◉ 4) Which of the following is NOT a key component of the
definition of accounting?
a. Financial
b. Decision-oriented
c. Qualitative
,d. Useful Answer: c. Qualitative
◉ 5) Which of the following is NOT typically true of accounting
information?
a. The information relates to specific accounting entities.
b. The information is primarily financial in nature.
c. The information relates to future time periods.
d. The information is quantitative in nature. Answer: d. The
information is quantitative in nature.
◉ 6) Which of the following is NOT one of the three primary
financial statements?
a. Balance Sheet
b. Income statement
c. Statement of cash flows
d. Statement of retained earnings Answer: d. Statement of retained
earnings
◉ 7) Which of the following financial statements reports a
company's resources, obligations, and owner's equity?
a. Statement of retained earnings
b. Statement of cash flows
c. Income statement
,d. Balance sheet Answer: d. Balance sheet
◉ 8) Which of the following financial statements reports the excess
of a company's revenues over its expenses?
a. Statement of retained earnings
b. Statement of cash flows
c. Income statement
d. Balance sheet Answer: c. Income statement
◉ 9) Which of the following financial statements reports the amount
of cash collected and paid out by a company?
a. Balance sheet
b. Statement of retained earnings
c. Statement of cash flows
d. Income statement Answer: c. Statement of cash flows
◉ 10) The emphasis in financial accounting is on which of the
following external user groups?
a. Management
b. Investors and creditors
c. Educators
d. Certified Public Accountants Answer: b. Investors and creditors
, ◉ 11) The primary internal group that uses accounting information
is
a. Government agencies
b. Investors
c. Management
d. Competitors Answer: c. Management
◉ 12) Internal reports are generally used by
a. Lenders
b. Management
c. Employees
d. Suppliers Answer: b. Management
◉ 13) Which of the following is NOT an external user of financial
information?
a. Competitors
b. Suppliers
c. Customers
d. Management Answer: d. Management
