WGU C213 Accounting for Decision Makers Exam
|OA| Objective Assessment| Actual Questions and
Answers Latest Updated (Graded A+)
Correct 208
Incorrect 0
C213 Accounting for Decision Makers
Term
Equity Net income
, Assets Sales revenue
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2 of 208
Term
If the total amount for Rent Expense is inadvertently posted to Prepaid
Rent at the end of the year, what will be the effect on the year-end
financial statements?
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Owner's equity will be understated Expenses will be overstated
Assets will be overstated Revenues will be understated
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, 3 of 208
Term
If a company anticipates a 40% increase in sales volume, then it is most
likely that the company will need about a 40% increase in
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bank loans payable. property, plant, and equipment.
operating profit. accounts payable.
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4 of 208
Term
With a multiple-step income statement all revenues are grouped
together, all expenses are grouped together, and net income is
computed as the difference between the two.
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True False
, Don't know?
5 of 208
Term
In completing an audit of a company's financial statements, auditors
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Examine every transaction underlying Assume responsibility for the
the financial statements accuracy of the financial statements
Provide some assurance that
Guarantee that the financial
the financial statements are not
statements are accurate
misleading
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6 of 208
Term
When other factors remain constant, an increase in variable costs:
Give this one a try later!
|OA| Objective Assessment| Actual Questions and
Answers Latest Updated (Graded A+)
Correct 208
Incorrect 0
C213 Accounting for Decision Makers
Term
Equity Net income
, Assets Sales revenue
Don't know?
2 of 208
Term
If the total amount for Rent Expense is inadvertently posted to Prepaid
Rent at the end of the year, what will be the effect on the year-end
financial statements?
Give this one a try later!
Owner's equity will be understated Expenses will be overstated
Assets will be overstated Revenues will be understated
Don't know?
, 3 of 208
Term
If a company anticipates a 40% increase in sales volume, then it is most
likely that the company will need about a 40% increase in
Give this one a try later!
bank loans payable. property, plant, and equipment.
operating profit. accounts payable.
Don't know?
4 of 208
Term
With a multiple-step income statement all revenues are grouped
together, all expenses are grouped together, and net income is
computed as the difference between the two.
Give this one a try later!
True False
, Don't know?
5 of 208
Term
In completing an audit of a company's financial statements, auditors
Give this one a try later!
Examine every transaction underlying Assume responsibility for the
the financial statements accuracy of the financial statements
Provide some assurance that
Guarantee that the financial
the financial statements are not
statements are accurate
misleading
Don't know?
6 of 208
Term
When other factors remain constant, an increase in variable costs:
Give this one a try later!
