WGU C213 Final Exam 2024. (ACCOUNTING FOR DECISION MAKERS). QUESTIONS WITH 100 VERIFIED ANSWERS. LATEST UPDATE.

WGU C213 Final Exam 2024. (ACCOUNTING FOR DECISION MAKERS). QUESTIONS WITH 100% VERIFIED ANSWERS. LATEST UPDATE. GUARANTEED A+ GRADE. • Whatdoesaccountingfocuson(answer)Theimpactabusiness'sactivitieshave on itsoverallfinancialperformance • Whichreportsummarizescashcollectionsandcashexpendituresfromoper ating, investing, and financing activities over a periodoftime(answer)State-mentofcashflows • Whichuserswouldhaveaprimaryconcernwithanorganization'sabilitytopro videhealthcarebenefits(answer)Employees • Which body regulates a certified public accounting firm's audit practiceswhenthefirmisauditingalargepubliclytradedcompany(answer)TheP ublicCom-panyAccountingOversightBoard(PCAOB) • What has had the most significant impact on accountingpractices(answer)Infor-mationtechnology • Whattwoitemsofinformationarerevealedonthebalancesheet? Choose2answers:Ownership.D ebt • Whichtermisdefinedastheresidualinterestinthenetassetsofacompa ny(answer)Owners'equity • Acorporationhastotalliabilitiesof$300million,totalowners'equityof $100million,andcurrentassetsof$50million. Whatisthevalueofthefirm'slong-termassets(answer)$350million • Whichsituationshouldresultinrevenuerecognitionontheincomestate-ment for the year ending 12/31/14 if the firm is using accrual-basis account- ing(answer)In 2014, a company provides services to a customer for which cashwill becollectedthenextyear(2015). • Whichcategoryonthestatementofcashflowssummarizescashreceiptsand payments to owners and creditors of the company(answer)Cash flowsfromfinancingactivities • Wherewouldaninvestorfindasummaryofacompany'ssignificantacco untingpolicies(answer)Inthenotestofinancialstatements • Whichassurancedoesanexternalauditreportprovideforitsreaders?- :Thecompany'sfinancialstatementsfairlyreflectitsfinancialposition • Reliable:Informationthatcanbeverified • Relevant:Informationhavingtodowiththematterathand • Material:Informationthatisimportantenoughtomakeadifference • Conservatism:Informationrelatedtorecognizinglossesastheyoccur • stepsinthedecisioncycle:1Preparefinancialstatements.2An alyzefinancialstatements. 3 Gatherinformation. 4 Makedecision. 5 Implementdecision • Partialfinancialinformationforacompanyisasfollows:Cur rentassets$36,543 Total assets $58,719Currentliabilities $24,824Totalliabilities$48 ,561 Stockholders'equity$10,158 Sales$46,997 NetIncome$3,761 Marketvalueofshares$41,316 Whatistheprice-earnings(PE)ratioforthiscompany(answer)11.0 • Whatisconsistentwithacontinualdeclineingrossprofitifthefirm'scostof goodssoldremainsthesame(answer)Continualdecreaseinsales • Whichtwocashflowadequacyratiosrepresentacashcow(answer)- $6,991/$5,486.$5,220/$1,875. • Which formula yields a cash times interest earned ratio of11(answer)Cashbeforeinterestandtaxesof$11,000/cashpaidforinterestof$1, 000 • Whichformofdebtshouldbereportedinthelong-termliabilitycatego- ry(answer)Notespayableexpectedtobepaidin18months