WGU C213 ACCOUNTING FOR DECISION
MAKERS LATEST EXAM QUESTIONS AND
CORRECT ANSWERS 2022-2024 (VERIFIED
ANSWERS)
Status: Passed
1.
What does accounting focus on?
YOUR CORRECT
ANSWER ANSWER
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?
YOUR CORRECT
ANSWER ANSWER
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?
YOUR CORRECT
ANSWER ANSWER
Competitors
Employees
Vendors
Suppliers
4.
,Which benefit does a corporation gain by following Generally Accepted Accounting Principles (GAAP)?
YOUR CORRECT
ANSWER ANSWER
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
, YOUR CORRECT
ANSWER ANSWER
An increase in the amount of assets it reports
5.
Which body regulates a certified public accounting firm’s audit practices when the firm is auditing a large publicly traded company?
YOUR CORRECT
ANSWER ANSWER
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?
YOUR CORRECT
ANSWER ANSWER
Certification requirements
New product innovations
Information technology
Mobile computing
7.
What two items of information are revealed on the balance sheet?
Choose 2 answers
YOUR CORRECT
ANSWER ANSWER
Ownership
Debt
Expenses
Revenues
Costs
8.
Which term is defined as the residual interest in the net assets of a company?
YOUR CORRECT
ANSWER ANSWER
MAKERS LATEST EXAM QUESTIONS AND
CORRECT ANSWERS 2022-2024 (VERIFIED
ANSWERS)
Status: Passed
1.
What does accounting focus on?
YOUR CORRECT
ANSWER ANSWER
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?
YOUR CORRECT
ANSWER ANSWER
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?
YOUR CORRECT
ANSWER ANSWER
Competitors
Employees
Vendors
Suppliers
4.
,Which benefit does a corporation gain by following Generally Accepted Accounting Principles (GAAP)?
YOUR CORRECT
ANSWER ANSWER
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
, YOUR CORRECT
ANSWER ANSWER
An increase in the amount of assets it reports
5.
Which body regulates a certified public accounting firm’s audit practices when the firm is auditing a large publicly traded company?
YOUR CORRECT
ANSWER ANSWER
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?
YOUR CORRECT
ANSWER ANSWER
Certification requirements
New product innovations
Information technology
Mobile computing
7.
What two items of information are revealed on the balance sheet?
Choose 2 answers
YOUR CORRECT
ANSWER ANSWER
Ownership
Debt
Expenses
Revenues
Costs
8.
Which term is defined as the residual interest in the net assets of a company?
YOUR CORRECT
ANSWER ANSWER
