WGU C213 PRE-ASSESSMENT (ACCOUNTING) SEPTEMBER 2025 UPDATED - QUESTIONS WITH 100% CORRECT ANSWERS 2025/2026

WGU C213 PRE-ASSESSMENT (ACCOUNTING) SEPTEMBER 2025 UPDATED - QUESTIONS WITH 100% CORRECT ANSWERS 2025/2026 What does accounting focus on? - 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. - ANS-The impact a business's activities on its overall financial performance. Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time? - Cash receipts and disbursements sheet - Cash flow schedule - Summary of cash receipts - Statement of cash flows - ANS-Statement of cash flows Which users would have a primary concern with an organization's ability to provide healthcare benefits? - Competitors - Employees - Vendors - Suppliers - ANS-Employees Which benefit does a corporation gain by following Generally Accepted Accounting Principles (GAAP)? - 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 - An increase in the amount of assets it reports - ANS-An increase in its comparability to other companies. Which body regulates a certified public accounting firm's audit practices when the firm is auditing a large publicly traded company? - The Public Company Accounting Oversight Board (PCAOB) - The Financial Accounting Standards Board (FASB) - Another certified public accounting firm (CPA) - The Internal Revenue Service (IRS) - ANS-...