WGU C213 Bundled Exams 2024/2025 with complete solution

Balance Sheet - Answer-financial position of company at a moment in time Income Statement - Answer-Financial performance of the company over a period of time Statement of cash flows - Answer-cash receipts and disbursements of company over a period of time Lender - Answer-Predict ability to repay ...

Accounting steps. - Answer-1. Prepare 2. Analyze 3. Gather 4. Make decisions 5. Implement 6. Observe. Managerial info is inside or outside the business? - Answer-Inside, Internal True or false, managerial accounting uses BOTH managerial and financial accounting? - Answer-True. Financial accounti...

What does accounting focus on? - Answer-The impact a business's activities have on its overall financial performance Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time? - Answer-Statement of cash flows Which u...

Which of the following is the most correct definition of accounting? - Answer-A system for providing quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions What is NOT typically true of accounting information? - ...

Describe the purpose of accounting. - Answer-Accounting is the recording of day-to-day financial activities and the organization of information into a summary of reports that evaluate the company's financial status. Which financial statements are used in financial accounting? - Answer-1. Balance...

What does accounting focus on? - Answer-The impact a business's activities have on its overall financial performance Which report summarizes cash collections and cash expenditures from operating, investing, and financing activities over a period of time? - Answer-Statement of cash flows Which u...

purpose of accounting - Answer-Accounting is 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 is a part of accounting. Bookkeeping refers to the process of ...

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 accountin...