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WGU Accounting-for-Decision-Makers exam : WGU Accounting for Decision Makers C213 VAC2

Accounting-for-Decision-Makers Exam Simulator
  • Exam Code: Accounting-for-Decision-Makers
  • Exam Name: WGU Accounting for Decision Makers C213 VAC2
  • Updated: Sep 28, 2026
  • Q & A: 71 Questions and Answers
  • WGU Accounting-for-Decision-Makers Q&A - in .pdf

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

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

                                WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

                                Question #1

                                How are activity-based costing systems different from traditional costing systems?

                                • A. Activity-based costing systems provide a more precise assignment of overhead costs when multiple products are manufactured than traditional costing systems do
                                • B. Activity-based costing systems are used with homogeneous products while traditional costing systems are used with heterogeneous products
                                • C. Activity-based costing systems require less time and expense to administer than traditional costing systems
                                • D. Activity-based costing systems are based on a single cost driver and traditional costing systems are based on multiple cost drivers
                                Reveal Solution  Discussion  0

                                Correct Answer: A  🗳️

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                                Question #2

                                Which organization establishes rules U.S. companies use to record and report accounting transactions?

                                • A. Financial Accounting Standards Board
                                • B. Internal Revenue Service
                                • C. Securities and Exchange Commission
                                • D. Accounting Principles Board
                                Reveal Solution  Discussion  0

                                Correct Answer: A  🗳️

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                                Question #3

                                Match each accounting term with its definition.
                                Answer options may be used more than once or not at all.
                                Select your answer from the pull-down list.

                                Reveal Solution  Discussion  0

                                Correct Answer:


                                Explanation:
                                Conservatism - Information related to recognizing losses as they occur
                                Reliable - Information that can be verified
                                Material - Information that is important enough to make a difference
                                Relevant - Information having to do with the matter at hand
                                These accounting terms describe important qualitative ideas used in financial reporting. Conservatism means accountants should use caution when uncertainty exists, especially by recognizing potential losses sooner rather than delaying them. Reliable information is information that can be supported, confirmed, or verified, which makes it trustworthy for users of financial statements. Material information is significant enough to affect the decisions of investors, creditors, or other users. If leaving it out or misstating it could influence a decision, it is material. Relevant information is information that relates directly to the issue being considered and is useful for decision-making.
                                These concepts help ensure that accounting information is useful, dependable, and meaningful. Relevance focuses on usefulness, reliability focuses on trustworthiness, materiality focuses on significance, and conservatism focuses on caution under uncertainty. Together, they support better financial statement preparation and interpretation. In this matching question, each term lines up with its most standard accounting definition, so the correct matches are exactly as shown above.

                                Question #4

                                What are the costs associated with two or more business units called?

                                • A. Variable costs
                                • B. Product costs
                                • C. Direct costs
                                • D. Indirect costs
                                Reveal Solution  Discussion  0

                                Correct Answer: D  🗳️

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                                Question #5

                                During the year, a company purchased goods on a credit basis for its supplies of $750.
                                What would be the impact on the accounting equation and financial statement?

                                • A. Increase in assets by $750 and decrease in liability by $750
                                • B. Decrease in assets by $750 and increase in liability by $750
                                • C. Increase in assets by $750 and increase in liability by $750
                                • D. Decrease in assets by $750 and decrease in liability by $750
                                Reveal Solution  Discussion  0

                                Correct Answer: C  🗳️

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