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WGU Accounting-for-Decision-Makers

Accounting-for-Decision-Makers

Exam Code: Accounting-for-Decision-Makers

Exam Name: WGU Accounting for Decision Makers C213 VAC2

Updated: Aug 06, 2026

Q&A Number: 71 Q&As

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WGU Accounting-for-Decision-Makers Exam Syllabus Topics:

SectionObjectives
Managerial Accounting for Decision Making- Cost Behavior
  • 1. Fixed vs variable costs
    • 2. Mixed costs analysis
      - Budgeting and Planning
      • 1. Operating budgets
        • 2. Forecasting and variance analysis
          - Cost-Volume-Profit Analysis
          • 1. Break-even analysis
            • 2. Contribution margin concepts
              Business Decision Support- Performance Measurement
              • 1. Financial ratios overview
                • 2. Responsibility accounting concepts
                  - Relevant Costing
                  • 1. Make or buy decisions
                    • 2. Differential cost analysis
                      Financial Accounting Fundamentals- Accounting Principles
                      • 1. Revenue recognition concepts
                        • 2. Accrual vs cash accounting
                          - Financial Statements
                          • 1. Balance Sheet structure
                            • 2. Cash Flow Statement basics
                              • 3. Income Statement analysis

                                WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

                                1. Which balance sheet category reflects what a company owns that can be turned into cash or used to generate cash?

                                A) Revenues
                                B) Owners' equity
                                C) Assets
                                D) Liabilities


                                2. What is true regarding the use of International Financial Reporting Standards (IFRS)?

                                A) IFRS are seldom used by non-U.S. companies
                                B) IFRS are commonly required to be used in Asia
                                C) IFRS may be used instead of generally accepted accounting principles (GAAP) by any U.S.-based corporation
                                D) IFRS are required to be used by the Securities and Exchange Commission (SEC)


                                3. What does it mean if a company has a debt ratio of 101.5%?

                                A) The company has 1.5% more total liabilities than total assets
                                B) The company has 1.5% more total liabilities than net income
                                C) The company has 1.5% more current liabilities than current assets
                                D) The company has 1.5% more total liabilities than gross sales


                                4. What is a significant role of the U.S. Securities and Exchange Commission (SEC) in financial reporting?

                                A) The SEC provides representation and training to controllers of public companies
                                B) The SEC supports company management and boards of directors in the effective discharge of their responsibilities
                                C) The SEC ensures that auditors have the resources and information necessary to provide valuable professional services
                                D) The SEC ensures that financial statement users are provided with reliable information to use in decision- making


                                5. Which two items increase net income?
                                Choose 2 answers.

                                A) Interest income
                                B) Income tax expense
                                C) Cost of sales
                                D) Gain on sale of assets


                                Solutions:

                                Question # 1
                                Answer: C
                                Question # 2
                                Answer: B
                                Question # 3
                                Answer: A
                                Question # 4
                                Answer: D
                                Question # 5
                                Answer: A,D

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