WGU C213 ACCOUNTING FOR DECISION MAKERS
LATEST 87 REAL EXAM QUESTIONS AND CORRECT
ANSWERS 2022-2024 (VERIFIED ANSWERS)
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- What does accounting focus on ?The impact a business's activities have on
its overall financial performance
- Which report summarizes cash collections and cash expenditures
from operating, investing, and financing activities over a period of time State- ment of cash flows
- Which users would have a primary concern with an organization's ability
to provide healthcare benefits Employees
- Which body regulates a certified public accounting firm's audit practices
when the firm is auditing a large publicly traded company The Public Com- pany Accounting Oversight Board (PCAOB)
- What has had the most significant impact on accounting
practices Infor- mation technology
- What two items of information are revealed on the balance sheet?
Choose 2 answers: Ownership.
Debt
- Which term is defined as the residual interest in the net assets of a
- / 3
company Owners' equity
- A corporation has total liabilities of $300 million, total owners' equity of
$100 million, and current assets of $50 million. 2 / 3
What is the value of the firm's long-term assets $350 million
- Which situation should result in revenue recognition on the income state-
ment for the year ending 12/31/14 if the firm is using accrual-basis account- ing In 2014, a company provides services to a customer for which cash will be collected the next year (2015).
- Which category on the statement of cash flows summarizes cash receipts
and payments to owners and creditors of the company Cash flows from financing activities
- Where would an investor find a summary of a company's significant
accounting policies In the notes to financial statements
- Which assurance does an external audit report provide for its readers?-
: The company's financial statements fairly reflect its financial position
- Reliable: Information that can be verified
- / 3