Exam (elaborations)

WGU C213 Exam test preparation Questions and Must have marking scheme Latest Update 2024/2025

0 purchase

Course
WGU C213 Accounting for Decision Makers

Institution
WGU C213 Accounting For Decision Makers

[Show more]

Preview 3 out of 17 pages

View example

Uploaded on August 15, 2024
Number of pages 17
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

managerial accounting
financial accounting
financial statements
balance sheet
balance sheet accounting equation
wgu c213 exam test preparation questions and must

Institution WGU C213 Accounting for Decision Makers
Course WGU C213 Accounting for Decision Makers

KieranKent55 Member since 1 year 29 documents sold

$12.49

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

WGU C213 Exam test preparation
Questions and Must have marking
scheme Latest Update 2024/2025

Managerial Accounting examples - Correct Answer product
costs, breakeven analysis, budgeting, performance evaluation,
outsource production?

Financial Accounting examples - Correct Answer credit
analysis, regulatory uses (such as financial health of bank and
insurance companies), estimate the value of a company

financial statements - Correct Answer The general-purpose
information provided by financial accounting - the balance sheet,
income statement, and statement of cash flows

balance sheet - Correct Answer document that reports the
resources of a company (the assets), the company's obligations
(the liabilities), and the owners' equity, which represents how
much money has been invested in the company by its owners

balance sheet accounting equation - Correct Answer Assets =
Liabilities + Equity

Income Statement Equation - Correct Answer Revenues -
Expenses = Net Income

income statement - Correct Answer document that reports the
amount of net income earned by a company during a period, with
annual and quarterly income statements being the most common

,statement of cash flows - Correct Answer document that reports
the amount of cash collected and paid out by a company in the
following three types of activities: operating, investing, and
financing

inflows of cash (recipients) - Correct Answer operating
activities (selling goods, providing services), investing activities
(selling buildings, selling land), financing activities (borrowing
money, receiving investments from owners)

outflows of cash (payments) - Correct Answer operating
activities (paying wages, utilities, taxes), investing activities
(purchasing buildings, purchasing land), financing activities
(repaying loans, distribution to owners)

key external financial accounting data users - Correct Answer
lenders and investors

key internal users of financial accounting data - Correct Answer
management

other external users of financial information - Correct Answer
suppliers, customers, employees, competitors, government
agencies, politicians, the press

The emphasis in financial accounting is on which of the following
external user groups? - Correct Answer investors and creditors

The primary internal group that uses accounting information is -
Correct Answer management

, Internal reports are generally used by - Correct Answer
management

Which of the following is NOT an external user of financial
information? - Correct Answer management

Accounting Standards also means... - Correct Answer
accounting rules

compensation expense examples - Correct Answer cash salary,
new car for employee, and potentially options (10% owner after
one year in exchange for an investment after x amount of years)

Financial Accounting Standards Board (FASB) - Correct Answer
the private board group (7 members) that establishes the
generally accepted accounting principles used in the practice of
financial accounting. (not a government agency, people
experienced in business and accounting, public process)

Generally Accepted Accounting Principles (GAAP) - Correct
Answer a set of accounting standards that is used in the
preparation of financial statements (no legal authority)

why do we need accounting rules? - Correct Answer for
comparability

Which of the following is NOT true of the Financial Accounting
Standards Board (FASB)? - Correct Answer It is a government
agency

The benefits of buying summaries with Stuvia:

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

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

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 KieranKent55. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69052 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Exam (elaborations)

WGU C213 Exam test preparation Questions and Must have marking scheme Latest Update 2024/2025

Document information

Subjects

Written for

Seller

Reviews received

Content preview