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

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

                                WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

                                Which two items increase net income?
                                Choose 2 answers.

                                • A. Gain on sale of assets
                                • B. Income tax expense
                                • C. Cost of sales
                                • D. Interest income
                                Reveal Solution  Discussion  0

                                Correct Answer: A,D  🗳️

                                Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

                                What is a cost incurred as part of the production process?

                                • A. Opportunity cost
                                • B. Period cost
                                • C. Sunk cost
                                • D. Raw materials cost
                                Reveal Solution  Discussion  0

                                Correct Answer: D  🗳️

                                Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

                                Where should a company report cash payments to acquire or construct long-term fixed assets on a statement of cash flows?

                                • A. Cash flows from financing activities
                                • B. Cash flows from business activities
                                • C. Cash flows from operating activities
                                • D. Cash flows from investing activities
                                Reveal Solution  Discussion  0

                                Correct Answer: D  🗳️

                                Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

                                Which item is an operating activity under a U.S. generally accepted accounting principles (GAAP) statement of cash flows?

                                • A. Cash receipts from the sale of a business segment
                                • B. Cash payments for purchase of plant assets
                                • C. Cash payments for administration expenses
                                • D. Cash receipts for the sale of plant assets
                                Reveal Solution  Discussion  0

                                Correct Answer: C  🗳️

                                Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

                                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 prevent all unethical behavior of anyone the management accountant may work with
                                • C. To provide the management accountant with the ability to work with only companies that follow strict ethical principles
                                • D. To provide the management accountant with the ability to know whether a person will act ethically or not
                                Reveal Solution  Discussion  0

                                Correct Answer: A  🗳️

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