WGU C213 PA & OA Study Guide EXAM MOST
TESTED QUESTIONS AND VERIFIED
SOLUTIONS/GET IT 100% ACCURATE!! 2026!!
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Terms in this set (246)
The impact a business's activities What does accounting focus on?
have on its overall financial
performance
Statement of cash flows Which report summarizes cash collections and
cash expenditures from operating, investing, and
financing activities over a period of time?
Employees Which users would have a primary concern with an
organization's ability to provide healthcare
benefits?
An increase in its compatibility to Which benefit does a corporation gain by
other companies following Generally Accepted Accounting
Principles (GAPP)?
The Public Company Accounting Which body regulates a certified public accounting
Oversight Board (PACOB) firm's audit practices when the firm is auditing a
large publicly traded company?
, Information technology What has had the most significant impact on
Accounting practices?
Ownership and Debt What two items of information are revealed on the
balance sheet?
Owners equity Which term is defined as the residual in the net
assets of a company?
In 2014, a company provides services Which situation should result in revenue
to a customer for which cash will be recognition on the income statement for the year
collected the next year (2015). ending 12/31/14 if the firm is using accrual
accounting?
Cash from financing activities Which category on the statement of cash flows
summarizes cash receipts and payments to owners
and creditors of the company?
In the notes to financial statements Where would an investor find a summary of a
company's significant accounting policies?
The company's financial statements Which assurance does an external audit report
fairly reflect its financial position provide for its readers?
Reliable Information that can be verified
Relevant Information having to do with the matter at hand
Material Information that is important enough to make a
difference
Conservatism Information related to recognizing losses as they
occur
TESTED QUESTIONS AND VERIFIED
SOLUTIONS/GET IT 100% ACCURATE!! 2026!!
Save
Terms in this set (246)
The impact a business's activities What does accounting focus on?
have on its overall financial
performance
Statement of cash flows Which report summarizes cash collections and
cash expenditures from operating, investing, and
financing activities over a period of time?
Employees Which users would have a primary concern with an
organization's ability to provide healthcare
benefits?
An increase in its compatibility to Which benefit does a corporation gain by
other companies following Generally Accepted Accounting
Principles (GAPP)?
The Public Company Accounting Which body regulates a certified public accounting
Oversight Board (PACOB) firm's audit practices when the firm is auditing a
large publicly traded company?
, Information technology What has had the most significant impact on
Accounting practices?
Ownership and Debt What two items of information are revealed on the
balance sheet?
Owners equity Which term is defined as the residual in the net
assets of a company?
In 2014, a company provides services Which situation should result in revenue
to a customer for which cash will be recognition on the income statement for the year
collected the next year (2015). ending 12/31/14 if the firm is using accrual
accounting?
Cash from financing activities Which category on the statement of cash flows
summarizes cash receipts and payments to owners
and creditors of the company?
In the notes to financial statements Where would an investor find a summary of a
company's significant accounting policies?
The company's financial statements Which assurance does an external audit report
fairly reflect its financial position provide for its readers?
Reliable Information that can be verified
Relevant Information having to do with the matter at hand
Material Information that is important enough to make a
difference
Conservatism Information related to recognizing losses as they
occur
