Learn with WGU : Accounting-for-Decision-Makers training material for 100% pass

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

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

                                WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

                                Question #1

                                Which action should a managerial accountant consider taking if confronted by an ethical conflict?

                                • A. Consult with a coworker
                                • B. Use an objective advisor confidentially
                                • C. Report directly to the chief executive officer
                                • D. Confer with any stakeholder in the organization
                                Reveal Solution  Discussion  0

                                Correct Answer: B  🗳️

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                                Question #2

                                Which change occurred if the cost of goods sold moved from 76.8% to 72.6%?

                                • A. Gross profit percentage increased by 4.2%
                                • B. Net profit percentage increased by 4.2%
                                • C. Net profit percentage decreased by 4.2%
                                • D. Gross profit percentage decreased by 4.2%
                                Reveal Solution  Discussion  0

                                Correct Answer: A  🗳️

                                Explanation: Only visible for Exam4Labs members. You can sign-up / login (it's free).

                                Question #3

                                A company plans to purchase inventory for the second half of a year as follows:
                                July = $100,000
                                August = $75,000
                                September = $225,000
                                October = $125,000
                                November = $250,000
                                December = $30,000
                                The company usually pays 50% of inventory purchases in the month of purchase, 35% in the following month, and 15% in the second month.
                                What are the forecasted October cash payments based on this information?

                                • A. $152,500
                                • B. $62,500
                                • C. $18,750
                                • D. $78,750
                                Reveal Solution  Discussion  0

                                Correct Answer: A  🗳️

                                Explanation: Only visible for Exam4Labs members. You can sign-up / login (it's free).

                                Question #4

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

                                • A. The SEC ensures that auditors have the resources and information necessary to provide valuable professional services
                                • B. The SEC supports company management and boards of directors in the effective discharge of their responsibilities
                                • C. The SEC ensures that financial statement users are provided with reliable information to use in decision- making
                                • D. The SEC provides representation and training to controllers of public companies
                                Reveal Solution  Discussion  0

                                Correct Answer: C  🗳️

                                Explanation: Only visible for Exam4Labs members. You can sign-up / login (it's free).

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

                                Correct Answer: A  🗳️

                                Explanation: Only visible for Exam4Labs members. You can sign-up / login (it's free).

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