WGU C213 ACCOUNTING FOR DECISION MAKERS STUDY GUIDE FINAL EXAM Questions with Verified Answers (2025 / 2026) Grade A+ Guarantee

WGU C213 ACCOUNTING FOR DECISION MAKERS STUDY GUIDE FINAL EXAM

Questions with Verified Answers

Grade A+ Guarantee




1. What has had the most significant impact on accounting practices A
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NS: Information technology
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2. Which term is defined as the residual interest in the net assets of a compa-
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g ny ANS: Owner's equity
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3. Which category on the statement of cash flows summarizes cash receipts and pa
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yments to owners and creditors of the company
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ANS: Cash flows from financing activities
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4. Where would an investor find a summary of a company's significant ac-
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counting policies
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ANS: In the Notes to Financial Statements
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, 5. Which assurance does an external audit report provide for its readers A
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NS: The company's financial statements fairly reflect its financial position.
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6. Relevant
ANS: Information having to do with the matter at hand
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7. Material
ANS: Information that is important enough to make a difference
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8. Reliable
ANS: Information that can be verified
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9. Conservatism
ANS: Information related to recognizing losses as they occur
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10. Steps in the decision cycle
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ANS: 1. Prepare financial statements
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2. Analyze financial statements g g




3. gather information g




4. Make decision g




5. implement decision g




11. Price-earnings ratio g




ANS: Market value of shares / net income
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