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WGU C211 OA Global Economics Exam (2022/2023) (Verified Answers)
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WGU C211 OA Global Economics Exam (2022/2023) (Verified Answers)Wgu c213 pre assessment accounting for decision makers pvac
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WGU C213 Final Exam:ACCOUNTING FOR
DECISION MAKERS
Questions And Answers
(2022/2023) Verified
,WGU C213 PRE-ASSESSMENT: ACCOUNTING FOR DECISION MAKERS PVAC
2022/2023
1. What does accounting focus on(answer) The impact a business's activities
have on its overall financial performance
2. Which report summarizes cash collections and cash expenditures
from operating, investing, and financing activities over a period of
time(answer) State- ment of cash flows
3. Which users would have a primary concern with an organization's ability
to provide healthcare benefits(answer) Employees
4. Which body regulates a certified public accounting firm's audit practices
when the firm is auditing a large publicly traded company(answer) The
Public Com- pany Accounting Oversight Board (PCAOB)
5. What has had the most significant impact on accounting
practices(answer) Infor- mation technology
6. What two items of information are revealed on the balance sheet?
Choose 2 answers: Ownership.
Debt
7. Which term is defined as the residual interest in the net assets of a
company(answer) Owners' equity
8. 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(answer) $350 million
9. 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(answer) In 2014, a company provides services to a customer for which cash
will be collected the next year (2015).
10. Which category on the statement of cash flows summarizes cash receipt
and payments to owners and creditors of the company(answer) Cash flows
from financing activities
11. Where would an investor find a summary of a company's significant
accounting policies(answer) In the notes to financial statements
12. Which assurance does an external audit report provide for its readers?-
: The company's financial statements fairly reflect its financial position
13. Reliable: Information that can be verified
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