Terms in this set (122)
C213 Accounting for Decision Makers WGU EXAM
QUESTIONS AND ANSWERS (100%
CORRECT) | LATEST UPDATE 2026/2027 |
GRADED A+ | ASSURED PASS.
Balance Sheet financial position of company at a moment in time
Income Statement Financial performance of the company over a period of time
Statement of cash flows cash receipts and disbursements of company over a period of
time
Lender Predict ability to repay loans
Investors Predict future earnings and dividends
Suppliers & Customers ability to pay for goods and honor contracts
Company management analyze company's strengths and weaknesses
Accounting equation Assets = Liabilities + Owner's Equity
Assets resources, typically owned by the company
Liabilities Obligations or debts of the company
Owners equity direct and indirect investments owners (stockholders) have
made
Liquidity the ease with which an asset can be converted into cash
current assets cash and other assets expected to be exchanged for cash or
consumed within a year
Accounts Receivable Amounts owed by customers as a result of credit sales, usually
collected in cash within 60 days of the sale.
Short-term investments investments in stocks or bonds of another company that the
company plans to sell within 12 monts
long term assets assets the company does not expect to convert to cash or
consume within 12 months
, Long-term investments investments in stock or bonds of another company that the
company does not plan to sell within 12 months
Property, plant, and equipment (PP&E) Land, buildings, machinery, and tools.
intangible assets assets that have to physical or tangible characteristics
(patents, copyrights, and trademarks)
C213 Accounting for Decision Makers WGU EXAM
QUESTIONS AND ANSWERS (100%
CORRECT) | LATEST UPDATE 2026/2027 |
GRADED A+ | ASSURED PASS.
Balance Sheet financial position of company at a moment in time
Income Statement Financial performance of the company over a period of time
Statement of cash flows cash receipts and disbursements of company over a period of
time
Lender Predict ability to repay loans
Investors Predict future earnings and dividends
Suppliers & Customers ability to pay for goods and honor contracts
Company management analyze company's strengths and weaknesses
Accounting equation Assets = Liabilities + Owner's Equity
Assets resources, typically owned by the company
Liabilities Obligations or debts of the company
Owners equity direct and indirect investments owners (stockholders) have
made
Liquidity the ease with which an asset can be converted into cash
current assets cash and other assets expected to be exchanged for cash or
consumed within a year
Accounts Receivable Amounts owed by customers as a result of credit sales, usually
collected in cash within 60 days of the sale.
Short-term investments investments in stocks or bonds of another company that the
company plans to sell within 12 monts
long term assets assets the company does not expect to convert to cash or
consume within 12 months
, Long-term investments investments in stock or bonds of another company that the
company does not plan to sell within 12 months
Property, plant, and equipment (PP&E) Land, buildings, machinery, and tools.
intangible assets assets that have to physical or tangible characteristics
(patents, copyrights, and trademarks)
