Exam Code: Accounting-for-Decision-Makers
Exam Name: WGU Accounting for Decision Makers C213 VAC2
Certification Provider: WGU
Corresponding Certification: Courses and Certificates
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WGU Accounting-for-Decision-Makers Exam Syllabus Topics:

SectionObjectives
Topic 1: Financial Accounting Fundamentals- Accounting Principles
  • 1. Accrual vs cash accounting
    • 2. Revenue recognition concepts
      - Financial Statements
      • 1. Cash Flow Statement basics
        • 2. Income Statement analysis
          • 3. Balance Sheet structure
            Topic 2: 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. Contribution margin concepts
                      • 2. Break-even analysis
                        Topic 3: Business Decision Support- Performance Measurement
                        • 1. Responsibility accounting concepts
                          • 2. Financial ratios overview
                            - Relevant Costing
                            • 1. Make or buy decisions
                              • 2. Differential cost analysis

                                WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

                                Which body regulates a certified public accounting firm's audit practices when the firm is auditing a large, publicly traded company?

                                • A. The Internal Revenue Service (IRS)
                                • B. The Financial Accounting Standards Advisory Council (FASAC)
                                • C. The Public Company Accounting Oversight Board (PCAOB)
                                • D. The Financial Accounting Standards Board (FASB)
                                Reveal Solution  Discussion  0

                                Correct Answer: C  šŸ—³ļø

                                Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

                                Which current asset on a balance sheet appears first in the traditional category order for U.S.-based companies?

                                • A. Inventory
                                • B. Prepaid expenses
                                • C. Cash
                                • D. Accounts receivable
                                Reveal Solution  Discussion  0

                                Correct Answer: C  šŸ—³ļø

                                Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

                                What can be determined when a firm performs an external audit of a company's financial statements?

                                • A. Whether a company's financial statements indicate it made a profit
                                • B. Whether a company's financial statements fairly reflect its financial position
                                • C. Whether a company's financial statements were prepared by a trained bookkeeper
                                • D. Whether a company's financial statements indicate that the company has to pay income taxes
                                Reveal Solution  Discussion  0

                                Correct Answer: B  šŸ—³ļø

                                Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

                                Which two items on an income statement result in decreased net income if they are increased?
                                Choose 2 answers.

                                • A. Interest expense
                                • B. Revenues
                                • C. Cost of goods sold
                                • D. Gains
                                Reveal Solution  Discussion  0

                                Correct Answer: A,C  šŸ—³ļø

                                Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

                                Which formula yields a cash times interest earned ratio of 11?

                                • A. Cash before interest and taxes of $11,000 / cash paid for acquisitions of $1,000
                                • B. Cash before interest and taxes of $11,000 / cash paid for interest of $1,000
                                • C. Cash before interest and taxes of $11,000 / cash from operations of $1,000
                                • D. Cash before interest and taxes of $11,000 / cash paid for income taxes of $1,000
                                Reveal Solution  Discussion  0

                                Correct Answer: B  šŸ—³ļø

                                Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).

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