WGU C213 Accounting for Decision Makers
latest carefully analyzed questions with correct
verified solutions graded A+ 2026
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
1
,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
Accounting information ANSWER >> Info that is intended to be useful in making
decisions about the future.
The balance sheet, the income statement, and the statement of cashflows ANSWER >>
What are the three primary financial statements?
External Users ANSWER >> Who is financial accounting information primarily prepared
for and used by?
Managerial Accounting ANSWER >> the name given to accounting systems designed
for internal users
Balance Sheet ANSWER >> Reports a company's assets, liabilities, and owners' equity
2
, Income Statement ANSWER >> reports the amount of net income earned by a
company during a period
Net income ANSWER >> the excess of a company's revenues over its expenses
statement of cash flows ANSWER >> reports the amount of cash collected and paid out
by a company in the following three types of activities: operating, investing, and
financing
FASB ANSWER >> Which private body establishes accounting rules in the U.S.?
Financial Accounting Standards Board (FASB) ANSWER >> 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) ANSWER >> 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
3
latest carefully analyzed questions with correct
verified solutions graded A+ 2026
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
1
,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
Accounting information ANSWER >> Info that is intended to be useful in making
decisions about the future.
The balance sheet, the income statement, and the statement of cashflows ANSWER >>
What are the three primary financial statements?
External Users ANSWER >> Who is financial accounting information primarily prepared
for and used by?
Managerial Accounting ANSWER >> the name given to accounting systems designed
for internal users
Balance Sheet ANSWER >> Reports a company's assets, liabilities, and owners' equity
2
, Income Statement ANSWER >> reports the amount of net income earned by a
company during a period
Net income ANSWER >> the excess of a company's revenues over its expenses
statement of cash flows ANSWER >> reports the amount of cash collected and paid out
by a company in the following three types of activities: operating, investing, and
financing
FASB ANSWER >> Which private body establishes accounting rules in the U.S.?
Financial Accounting Standards Board (FASB) ANSWER >> 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) ANSWER >> 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
3
