WGU C213 Accounting for Decision Makers
Questions And Correct Answers|2026-2027
Get It Correct !!!
Accounting -
-Correct 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 -
-Correct Answers
the preservation of a systematic, quantitative record of
an activity
accounting system -
-Correct 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 -
-Correct 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 -
-Correct Answers
1
,What are the three primary financial statements?
External Users -
-Correct Answers
Who is financial accounting information primarily
prepared for and used by?
Managerial Accounting -
-Correct Answers
the name given to accounting systems designed for
internal users
Balance Sheet -
-Correct Answers
Reports a company's assets, liabilities, and owners'
equity
Income Statement -
-Correct Answers
reports the amount of net income earned by a company
during a period
Net income -
-Correct Answers
the excess of a company's revenues over its expenses
statement of cash flows -
-Correct Answers
reports the amount of cash collected and paid out by a
company in the following three types of activities:
operating, investing, and financing
2
, FASB -
-Correct Answers
Which private body establishes accounting rules in the
U.S.?
Financial Accounting Standards Board (FASB) -
-Correct 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) -
-Correct 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
American Institute of Certified Public Accountants
(AICPA) -
-Correct Answers
the professional organization of certified public
accountants (CPAs) in the United States
Public Company Accounting Oversight Board (PCAOB) -
-Correct Answers
the organization that inspects the audit practices of
registered audit firms and has statutory authority to
investigate questionable audit practices and to impose
3
Questions And Correct Answers|2026-2027
Get It Correct !!!
Accounting -
-Correct 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 -
-Correct Answers
the preservation of a systematic, quantitative record of
an activity
accounting system -
-Correct 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 -
-Correct 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 -
-Correct Answers
1
,What are the three primary financial statements?
External Users -
-Correct Answers
Who is financial accounting information primarily
prepared for and used by?
Managerial Accounting -
-Correct Answers
the name given to accounting systems designed for
internal users
Balance Sheet -
-Correct Answers
Reports a company's assets, liabilities, and owners'
equity
Income Statement -
-Correct Answers
reports the amount of net income earned by a company
during a period
Net income -
-Correct Answers
the excess of a company's revenues over its expenses
statement of cash flows -
-Correct Answers
reports the amount of cash collected and paid out by a
company in the following three types of activities:
operating, investing, and financing
2
, FASB -
-Correct Answers
Which private body establishes accounting rules in the
U.S.?
Financial Accounting Standards Board (FASB) -
-Correct 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) -
-Correct 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
American Institute of Certified Public Accountants
(AICPA) -
-Correct Answers
the professional organization of certified public
accountants (CPAs) in the United States
Public Company Accounting Oversight Board (PCAOB) -
-Correct Answers
the organization that inspects the audit practices of
registered audit firms and has statutory authority to
investigate questionable audit practices and to impose
3
