WGU C213 Study Bundle Latest Update 2024 !!

The emphasis in financial accounting is on which of the following external user groups? - Answer Investors and creditors The primary internal group that uses accounting information is? - Answer Management Internal reports are generally used by? - Answer Management Which of the foll...

What does accounting focus on? - Answer 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? - Answer Statement of cash flows ...

Relationships between financial statement amounts are called Financial statement analyses DuPont ratios Financial ratios Liquidity ratios - Answer Financial Ratios Which of the following statements best describes financial statement analysis? Financial statement analysis evaluates futu...

Which of the following is generally considered to be a liability? -Answer Notes Payable Which of the following accounts is NOT an asset account? -Answer Accounts Payable Which of the following usually is NOT considered to be an owners' equity account? -Answer Inventory If a cor...

Balance Sheet - Answer financial position of company at a moment in time Income Statement - Answer Financial performance of the company over a period of time Statement of cash flows - Answer cash receipts and disbursements of company over a period of time Lender - Answer Predict abi...

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

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 acc...

Understanding of a business increases as one associates the individual asset, liability, and equity accounts with the underlying business activities that give rise to them. T/F - Answer True Assets and liabilities are generally classified as _______________ or _________ __________. - Answer ...

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