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WGU C213 Topics 1-6 Quizzes 2022 (91% of Exam Competencies)
WGU C213 Topics 1-6 Quizzes 2022 (91% of Exam Competencies) WGU C213 Topics 1-6 Quizzes 2022 (91% of Exam Competencies)
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WGU C213 Topics 1-6 Quizzes 2022 (91% ofExam Competencies)
The emphasis in financial accounting is on which of the following external user
groups? - ANSWER Investors and creditors
The primary internal group that uses accounting information is? - ANSWER
Management
Internal reports are generally used by? - ANSWER
Management
,Which of the following is NOT an external user of financial information? -
ANSWER Management
Which of the following is NOT true of the Financial Accounting Standards Board
(FASB)? - ANSWER It is a government agency
Generally accepted accounting principles are? - ANSWER
Developed by accounting rule makers
The initials GAAP stand for? - ANSWER
Generally Accepted Accounting Principles
,The current standard-setting board for accounting in the private sector is the? -
ANSWER Financial Accounting Standards Board
(FASB)
Which of the following is the government agency that stipulates the rules and
regulations that govern the collection of taxes in the United States? -
ANSWER Internal Revenue Service
The organization that develops worldwide accounting standards is the? -
ANSWER International Accounting Standards Board
(IASB)
, Standards established by the International Accounting Standards Board are
referred to as? - ANSWER International
Financial Accounting Standards
Which of the following is NOT a service typically provided by large public
accounting firms? - ANSWER Making
management decisions
Which of the following organizations has specific legal authority to establish
accounting standards for publicly held companies? - ANSWER
Securities and Exchange Commission (SEC)
Which of the following is NOT a reason for the integration of worldwide
accounting standards? - ANSWER The
theoretical necessity of a common set of accounting standards
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