WGU C213 ACCOUNTI NG FOR DECISION
MAKERS LATEST EXAM QUESTIONS AND
CORRECT ANSWERS 2022 -2024 (VERIFIED
ANSWERS)
Status: Passed
1.What does accounting focus on?
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The impact a business's activities have on its relationships with customers The impact a business's activities have on the environment The impact a business's activities have on its public image
The impact a business's activities have on its overall financial performance
2.
Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time?
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Cash receipts and disbursements sheet
Cash flow schedule
Summary of cash receipts
Statement of cash flows
3.Which users would have a primary concern with an organization’s ability to provide healthcare benefits?
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Competitors Employees
Vendors Suppliers
4. 1 / 3
Which benefit does a corporation gain by following Generally Accepted Accounting Principles (GAAP)?
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A decrease in its income tax obligations A decrease in the amount of net income it reports
An increase in its comparability to other companies 2 / 3
An increase in the amount of assets it reports
5.
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Which body regulates a certified public accounting firm’s audit practices when the firm is auditing a large publicly traded company?
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The Public Company Accounting Oversight Board (PCAOB)
The Financial Accounting Standards Board (FASB)
Another certified public accounting (CPA) firm
The Internal Revenue Service (IRS)
6.What has had the most significant impact on accounting practices?
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Certification requirements New product innovations
Information technology Mobile computing
7.What two items of information are revealed on the balance sheet?Choose 2 answers
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Ownership
Debt
Expenses
Revenues
Costs
8.
Which term is defined as the residual interest in the net assets of a company?
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- / 3