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

  • Exam Code: Accounting-for-Decision-Makers
  • Exam Name: WGU Accounting for Decision Makers C213 VAC2
  • Updated: Aug 05, 2026
  • Q & A: 71 Questions and Answers

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

SectionObjectives
Managerial Accounting Concepts- Contribution margin and break-even analysis
- Job order and process costing
- Cost classification and behavior (fixed, variable, mixed costs)
- Cost-Volume-Profit (CVP) analysis
Decision Making and Performance Evaluation- Relevant costs for decision making
- Responsibility accounting and performance metrics
- Make-or-buy and special order decisions
- Capital budgeting techniques (NPV, IRR, Payback Period)
- Balanced Scorecard concepts
Financial Accounting Fundamentals- Understanding the accounting cycle
- Accrual vs. cash basis accounting
- Preparing financial statements (Income Statement, Balance Sheet, Statement of Cash Flows)
- Recording transactions and adjusting entries
Budgeting and Planning- Variance analysis
- Master budget components
- Operating budgets (sales, production, direct materials, direct labor, overhead)
- Financial budgets (cash budget, budgeted income statement, budgeted balance sheet)
Financial Statement Analysis- Ratio analysis (liquidity, profitability, solvency, efficiency ratios)
- Interpreting financial data for decision-making purposes
- Horizontal and vertical analysis

WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

1. What is the impact on costs as sales volume decreases?

A) Total variable costs will increase in direct proportion
B) Total fixed costs will increase in direct proportion
C) Total fixed costs will decrease in direct proportion
D) Total variable costs will decrease in direct proportion


2. What purpose do the notes within financial statements serve to the Financial Accounting Standards Board?

A) Summarizing totals of financial statements
B) Providing supplementary information as needed
C) Disclosing financial statistics
D) Providing a summary of accounting policies


3. Which source of cash is the best indicator of a firm's viability as an ongoing concern?

A) Cash from financing activities
B) Cash from investing activities
C) Cash from production activities
D) Cash from operating activities


4. A company has projected the following sales for the spring quarter of a year:
April = $300,000
May = $325,000
June = $375,000
Cash is used to pay for 65% of all sales. The remainder is on credit.
The pattern for credit receivables collections is as follows:
* Month of sale = 60%
* Month after sale = 30%
* Second month after sale = 10%
What are the projected cash sales for all three months of the spring quarter?

A) $650,000
B) $195,000
C) $105,000
D) $350,000


5. Which role do ethical standards have in management accounting?

A) To guide the resolution to possible ethical dilemmas that the managerial accountant may encounter
B) To provide the management accountant with the ability to work with only companies that follow strict ethical principles
C) To provide the management accountant with the ability to know whether a person will act ethically or not
D) To prevent all unethical behavior of anyone the management accountant may work with


Solutions:

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

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