WGU C213 Study guides, Class notes & Summaries

WGU C213 ACCOUNTING FOR DECISION MAKERS PRE ASSESSMENT AND OBJECTIVE ASSESSMENT EXAMS WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DETAILED RATIONALES ANSWERS BY EXPERTS |FREQUENTLY TESTED QUESTIONS AND SOLUTION |ALREADY GRADED A+ |LATEST UPDATE |GUARANTEED PASS

What does accounting focus on? (1.5 : Q1) -Answer The impact a business's activities have on it's overall financial performance Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time? (1.5 : Q2) -Answer Statement of cash flows Which users would have a primary concern with an organization's ability to provide healthcare benefits? (1.5 : Q3) -Answer Employees Which benefit does a corporation g...

Financial statement analysis - Answer Involves relationships and trends Analyzing financial statements, prognosis is - Answer Prediction of how a business will perform in the future External users of financial statements use financial statement analysis for - Answer Investing decisions Purpose of financial statement analysis - Answer Diagnosis and Prognosis Liquidity - Answer Ability a company has to pay its debts in the short run Asset turnover - Answer Measures...

Accounting - 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 - Answer American Institute of Certified Public Accountants-the professional organization of certified public accountants in the united states Balance Sheet - Answer document which reports the resources of a company (assets), the company's obligations (liabilities), and the owner's equity, ...

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 - Answer True Assets and liabilities are generally classified as _______________ or _________ __________. - Answer current or long term. Current Asset - Answer one that is expected to be used within one year of the balance sheet date. Long term assets include - Answer property, plant and equipment, in...

Accounting -Answer 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 -Answer the preservation of a systematic, quantitative record of an activity accounting system -Answer 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 ...

1. Prepare 2. Analyze 3. Gather 4. Make decisions 5. Implement 6. Observe. - Answer Accounting steps. Inside, Internal - Answer Managerial info is inside or outside the business? True. Financial accounting is only outside. Managerial accounting can be inside AND outside. - Answer True or false, managerial accounting uses BOTH managerial and financial accounting? Outside, External, includes lenders and investors - Answer Financial is inside or outside the business? Balance she...

Balance Sheet - Answer financial position of company at a moment in time Income Statement - Answer Financial performance of the company over a period of time Statement of cash flows - Answer cash receipts and disbursements of company over a period of time Lender - Answer Predict ability to repay loans Investors - Answer Predict future earnings and dividends Suppliers & Customers - Answer ability to pay for goods and honor contracts Company management - Answer anal...

Which of the following is generally considered to be a liability? -Answer Notes Payable Which of the following accounts is NOT an asset account? -Answer Accounts Payable Which of the following usually is NOT considered to be an owners' equity account? -Answer Inventory If a corporation has total assets of $350,000, total liabilities of $150,000, and retained earnings of $100,000, what is the amount of capital stock? -Answer $100,000 Capital stock: $350,000 - $150,00...

Relationships between financial statement amounts are called Financial statement analyses DuPont ratios Financial ratios Liquidity ratios - Answer Financial Ratios Which of the following statements best describes financial statement analysis? Financial statement analysis evaluates future performance. All of these are correct. Financial statement analysis involves relationships and trends. Measurements for a specific company should be compared only with the past. - Answer ...