WGU C213 Study guides, Class notes & Summaries

Accounting for decision makers C213 WGU Question and answers correctly solved 2024 1. Prepare 2. Analyze 3. Gather 4. Make decisions 5. Implement 6. Observe. - correct answer Accounting steps. Inside, Internal - correct answer Managerial info is inside or outside the business? True. Financial accounting is only outside. Managerial accounting can be inside AND outside. - correct answer True or false, managerial accounting uses BOTH managerial and financial accounting? Outside, Ext...

Accounting for decision makers C213 Question and answers already passed 2024 The impact a business's activities have on its overall financial performance - correct answer What does accounting focus on? Statement of cash flows - correct answer Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time? Employees - correct answer Which users would have a primary concern with an organization's ability to pro...

Accounting for Decision Makers Question and answers already passed 2024 Which of the following is the most correct definition of accounting? - correct answer A system for providing quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions What is NOT typically true of accounting information? - correct answer The information relates to future time periods. Which is NOT a key component of the definition of ...

C213 Accounting for Decision Makers Question and answers already passed 2024 Understanding of a business increases as one associates the individual asset, liability, and equity accounts with the underlying business activities that give rise to them. T/F - correct answer True Assets and liabilities are generally classified as _______________ or _________ __________. - correct answer current or long term. Current Asset - correct answer one that is expected to be used within one year of...

C213 Accounting for Decision Makers Question and answers rated A+ 2024What are the three primary financial statements? - correct answer Balance Sheet, Income Statement, Statement of Cash Flows US Accounting Rules are established by... - correct answer FASB Three factors making drastic changes in accounting now... - correct answer Information Technology; International Integration of Worldwide Business; Increased scrutiny associated with large corporate scandals Define bookkeeping...

C213 Accounting for Decision Makers WGU Questions with complete solution 2024 Balance Sheet - correct answer financial position of company at a moment in time Income Statement - correct answer Financial performance of the company over a period of time Statement of cash flows - correct answer cash receipts and disbursements of company over a period of time Lender - correct answer Predict ability to repay loans Investors - correct answer Predict future earnings and dividends ...

C213 Accounting for Decision Makers Question and answers correctly solved 2024 "Other Assets" Long-term assets that are not suitable for reporting under any of the previous classifications Accounting A system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions." Accounting Equation Assets = Liabilities + Owners' Equity Accounts Payable The flip side of accounts receivable...

C213 Accounting WGU Chapter 4 Question and answers already passed 2024 Which of the following is generally considered to be a liability? - correct answer Notes Payable Which of the following accounts is NOT an asset account? - correct answer Accounts Payable Which of the following usually is NOT considered to be an owners' equity account? - correct answer Inventory If a corporation has total assets of $350,000, total liabilities of $150,000, and retained earnings of $100,000, wha...

C213 Accounting WGU Question and answers 2024 verified to passAccounting - correct answer a system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions" AICPA - correct answer American Institute of Certified Public Accountants-the professional organization of certified public accountants in the united states Balance Sheet - correct answer document which reports the resources of a co...

C213 Chapter 1 Question and answers already passed 2024 Accounting - correct answer A system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions." Accounting Equation - correct answer Assets = Liabilities + Owner's Equity American Institute of Certified Public Accountants (AICPA) - correct answer The professional organization of certified public accountants in the United States. ...