COMBINED COMPLETE WGU C213 Accounting for Decision Makers Verified Study Questions and Answers 2024 Graded A 2024

Order of assets listed on the balance sheet Assets are listed in the order of liquidity. Liquidity is the amount of time it would usually take to covert an asset into cash. Obviously, cash would be listed first, followed by marketable investments (a company can quickly convert a short-term investme...

Accounting - a system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions" AICPA - American Institute of Certified Public Accountants-the professional organization of certified public accountan...

"Other Assets" Long-term assets that are not suitable for reporting under any of the previous classifications Accounting A system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions." Ac...

1. Prepare 2. Analyze 3. Gather 4. Make decisions 5. Implement 6. Observe. - Accounting steps. Inside, Internal - Managerial info is inside or outside the business? True. Financial accounting is only outside. Managerial accounting can be inside AND outside. - True or false, managerial accounti...

Accounting - 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 - the preservation of a systematic, quantitative record of an activity accounting system - u...

Accounting - A system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions." -NUMBER : quantitative *STRENGTH because numbers can be easily tabulated and summarized. * WEAKNESS because some im...

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

What does accounting focus on? - The impact a business's activities have on it's overall financial performance The idea that the activities of the entity are to be separated from those of the individual owner is the Money measurement concept Going concern assumption Separate entity concept ...

Order of assets listed on the balance sheet Assets are listed in the order of liquidity. Liquidity is the amount of time it would usually take to covert an asset into cash. Obviously, cash would be listed first, followed by marketable investments (a company can quickly convert a short-term investme...

The ability a company has to pay its debts in the short run is its Liquidity 3 MULTIPLE CHOICE OPTIONS Which of the following is a measure of the liquid position of a corporation? Debt ratio 3 MULTIPLE CHOICE OPTIONS Which of the following ratios is used to measure a firm's leverage? Debt Ra...

What does accounting focus on? - 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? - Statement of cash flows Which users would h...