Financial Accounting > QUESTIONS & ANSWERS > WGU C213 Final Exam: ACCOUNTING FOR DECISION MAKERS (All)
WGU C213 Final Exam: ACCOUNTING FOR DECISION MAKERS
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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 opera ... ting, 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 [Show More]
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