WGU C213 Accounting for Decision Makers
2024/ 2025 Exam |Questions and Verified
Answers | A Grade
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
accounting system - ANSWER used by a business to
handle routine bookkeeping tasks and to structure the information so it can be
used to evaluate the performance and financial status of the business
,Accounting information - ANSWER Info that is intended
to be useful in making decisions about the future.
The balance sheet, the income statement, and the statement of cashflows -
ANSWER What are the three primary financial statements?
External Users - ANSWER Who is financial accounting
information primarily prepared for and used by?
Managerial Accounting - ANSWER the name given to
accounting systems designed for internal users
, Balance Sheet - ANSWER Reports a company's assets,
liabilities, and owners' equity
Income Statement - ANSWER reports the amount of
net income earned by a company during a period
Net income - ANSWER the excess of a company's
revenues over its expenses
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