WGU C213 Accounting for Decision Makers Question and
Answers 2023 Latest Exam Update Highly Verified Top
Rated.Guaranteed A+
Accounting - 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 - answers the preservation of a systematic, quantitative record of
an activity
accounting system - 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 - 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 -
answers What are the three primary financial statements?
External Users - answers Who is financial accounting information primarily
prepared for and used by?
pg. 1
, Managerial Accounting - answers the name given to accounting systems
designed for internal users
Balance Sheet - answers Reports a company's assets, liabilities, and owners'
equity
Income Statement - answers reports the amount of net income earned by a
company during a period
Net income - answers the excess of a company's revenues over its expenses
statement of cash flows - answers reports the amount of cash collected and
paid out by a company in the following three types of activities: operating,
investing, and financing
FASB - answers Which private body establishes accounting rules in the U.S.?
Financial Accounting Standards Board (FASB) - 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) - 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
pg. 2
Answers 2023 Latest Exam Update Highly Verified Top
Rated.Guaranteed A+
Accounting - 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 - answers the preservation of a systematic, quantitative record of
an activity
accounting system - 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 - 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 -
answers What are the three primary financial statements?
External Users - answers Who is financial accounting information primarily
prepared for and used by?
pg. 1
, Managerial Accounting - answers the name given to accounting systems
designed for internal users
Balance Sheet - answers Reports a company's assets, liabilities, and owners'
equity
Income Statement - answers reports the amount of net income earned by a
company during a period
Net income - answers the excess of a company's revenues over its expenses
statement of cash flows - answers reports the amount of cash collected and
paid out by a company in the following three types of activities: operating,
investing, and financing
FASB - answers Which private body establishes accounting rules in the U.S.?
Financial Accounting Standards Board (FASB) - 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) - 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
pg. 2
