100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
WGU C213 Final Exam Accounting for Decision Makers Questions and Answers (2023 / 2024) (Verified Answers) $12.49   Add to cart

Exam (elaborations)

WGU C213 Final Exam Accounting for Decision Makers Questions and Answers (2023 / 2024) (Verified Answers)

4 reviews
 587 views  16 purchases
  • Course
  • C213 Accounting
  • Institution
  • C213 Accounting

WGU C213 Final Exam Accounting for Decision Makers Questions and Answers (2023 / 2024) (Verified Answers) WGU C213 Final Exam Accounting for Decision Makers Questions and Answers (2023 / 2024) (Verified Answers)

Last document update: 1 year ago

Preview 4 out of 14  pages

  • August 20, 2022
  • July 17, 2023
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • c213 accounting
  • c213
  • wgu c213
  • C213 Accounting
  • C213 Accounting

4  reviews

review-writer-avatar

By: aharonsarafian • 1 year ago

review-writer-avatar

By: ems4143 • 1 year ago

reply-writer-avatar

By: LectJoshua • 1 year ago

THANKS FOR THE REVIEW , SUCCESS IN YOUR EXAMS AND IN NEED OF ANY STUDY MATERIAL KINDLY MESSAGE ME , I WILL GLADLY ASSIST

review-writer-avatar

By: hilgendorfh • 1 year ago

review-writer-avatar

By: tmyers0973 • 2 year ago

avatar-seller
LectJoshua
WGU C213 Final Exam Accounting for Decision Makers
Questions and Answers (2023/2024)
(Verified Answers)




1. What does accounting focus on ANS The impact a business's activities
have onits overall financial performance


2. Which report summarizes cash collections and cash expenditures from
operating, investing, and financing activities over a period of time ANS
Statementof cash flows



3. Which users would have a primary concern with an organization's ability to
provide healthcare benefits ANS Employees


4. Which benefit does a corporation gain by following Generally Accepted Ac-
counting Principles (GAAP) ANS An increase in its comparability to other
companies



5. Which body regulates a certified public accounting firm's audit practices
1/6

,when the firm is auditing a large publicly traded company ANS The Public
Com-pany Accounting Oversight Board (PCAOB)


6. What has had the most significant impact on accounting practices ANS
Infor-mation technology
7. What two items of information are revealed on the balance sheet ANS
Owner-ship & Debt


8. Which term is defined as the residual interest in the net assets of a compa-
ny ANS Owners' equity



9. 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 ANS $350 million


10. Which situation should result in revenue recognition on the income state-
ment for the year ending 12/31/14 if the firm is using accrual-basis account-
ing ANS In 2014, a company provides services to a customer for which cash will
be collected the next year (2015).


11. Which category on the statement of cash flows summarizes cash receipts
and payments to owners and creditors of the company ANS Cash flows from
financing activities
2/6

,12. Where would an investor find a summary of a company's significant ac-
counting policies ANS In the notes to financial statements




13. Which assurance does an external audit report provide for its readers
ANS -
The company's financial statements fairly reflect its financial position


14. Reliable. Match each accounting term with its definition.: Information that
can be verified


15. Relevant. Match each accounting term with its definition.: Information hav-
ing to do with the matter at hand




3/6

, 16. Material. Match each accounting term with its definition.: Information that is
important enough to make a difference


17. Conservatism. Match each accounting term with its definition.: Information
related to recognizing losses as they occur



18. Order the steps in the decision cycle from first (1) to last (5).: PAGMI


19. What does it mean if a company has a debt ratio of 101.5% ANS The
companyhas 1.5% more total liabilities than total assets.



20. What is consistent with a continual decline in gross profit if the firm's cost
of goods sold remains the same ANS Continual decrease in sales


21. Which cash flow adequacy ratios represent a cash cow ANS $6,991 /
$5,486



22. Which cash flow adequacy ratios represent a cash cow ANS $5,220 /
$1,875


23. Which formula yields a cash times interest earned ratio of 11 ANS Cash
beforeinterest and taxes of $11,000 / cash paid for interest of $1,000
4/6

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 LectJoshua. 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)

82871 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
$12.49  16x  sold
  • (4)
  Add to cart