100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
WGU C213. PRE-ASSESSMENT: ACCOUNTING FOR DECISION MAKERS PVAC 2024/2025 $16.49   Add to cart

Exam (elaborations)

WGU C213. PRE-ASSESSMENT: ACCOUNTING FOR DECISION MAKERS PVAC 2024/2025

 16 views  0 purchase
  • Course
  • WGU C213.
  • Institution
  • WGU C213.

WGU C213. PRE-ASSESSMENT: ACCOUNTING FOR DECISION MAKERS PVAC 2024/2025

Preview 3 out of 26  pages

  • August 21, 2024
  • 26
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • WGU C213.
  • WGU C213.
avatar-seller
YANCHY
WGU C213. PRE-ASSESSMENT:
ACCOUNTING FOR DECISION MAKERS
PVAC 2024/2025


What does accounting focus on? - Precise 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? -
Precise Answer ✔✔Statement of cash flows


Which users would have a primary concern with an organization's ability
to provide healthcare benefits? - Precise Answer ✔✔Employees


Which body regulates a certified public accounting firm's audit practices
when the firm is auditing a large publicly traded company? - Precise
Answer ✔✔The Public Company Accounting Oversight Board
(PCAOB)


What has had the most significant impact on accounting practices? -
Precise Answer ✔✔Information technology


What two items of information are revealed on the balance sheet?

,Choose 2 answers - Precise Answer ✔✔Ownership.
Debt


Which term is defined as the residual interest in the net assets of a
company? - Precise Answer ✔✔Owners' equity


A corporation has total liabilities of $300 million, total owners' equity of
$100 million, and current assets of $50 million.


What is the value of the firm's long-term assets? - Precise Answer
✔✔$350 million


Which situation should result in revenue recognition on the income
statement for the year ending 12/31/14 if the firm is using accrual-basis
accounting? - Precise Answer ✔✔In 2014, a company provides services
to a customer for which cash will be collected the next year (2015).


Which category on the statement of cash flows summarizes cash receipts
and payments to owners and creditors of the company? - Precise Answer
✔✔Cash flows from financing activities


Where would an investor find a summary of a company's significant
accounting policies? - Precise Answer ✔✔In the notes to financial
statements

, Which assurance does an external audit report provide for its readers? -
Precise Answer ✔✔The company's financial statements fairly reflect its
financial position


Reliable - Precise Answer ✔✔Information that can be verified


Relevant - Precise Answer ✔✔Information having to do with the matter
at hand


Material - Precise Answer ✔✔Information that is important enough to
make a difference


Conservatism - Precise Answer ✔✔Information related to recognizing
losses as they occur


steps in the decision cycle - Precise Answer ✔✔1 Prepare financial
statements.
2 Analyze financial statements.
3 Gather information.
4 Make decision.
5 Implement decision


Partial financial information for a company is as follows:


Current assets $36,543

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller YANCHY. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $16.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67866 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$16.49
  • (0)
  Add to cart