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  • Exam Code: Accounting-for-Decision-Makers
  • Exam Name: WGU Accounting for Decision Makers C213 VAC2
  • Updated: Sep 30, 2026
  • Q & A: 71 Questions and Answers
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  • Exam Code: Accounting-for-Decision-Makers
  • Exam Name: WGU Accounting for Decision Makers C213 VAC2
  • Updated: Sep 30, 2026
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  • Exam Name: WGU Accounting for Decision Makers C213 VAC2
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WGU Accounting-for-Decision-Makers Exam Syllabus Topics:

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

                                WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

                                Question #1

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

                                Correct Answer: D  🗳️

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

                                Question #2

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

                                • A. Disclosing financial statistics
                                • B. Providing a summary of accounting policies
                                • C. Providing supplementary information as needed
                                • D. Summarizing totals of financial statements
                                Reveal Solution  Discussion  0

                                Correct Answer: C  🗳️

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

                                Question #3

                                A corporation has liabilities and owners' equity of $100 million and $40 million respectively. What is the amount of the asset balance in this case?

                                • A. $140 million
                                • B. $25 million
                                • C. $60 million
                                • D. $80 million
                                Reveal Solution  Discussion  0

                                Correct Answer: A  🗳️

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

                                Question #4

                                What does it mean if a company has a debt ratio of 101.5%?

                                • A. The company has 1.5% more total liabilities than total assets
                                • B. The company has 1.5% more total liabilities than gross sales
                                • C. The company has 1.5% more current liabilities than current assets
                                • D. The company has 1.5% more total liabilities than net income
                                Reveal Solution  Discussion  0

                                Correct Answer: A  🗳️

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

                                Question #5

                                What is true regarding the use of International Financial Reporting Standards (IFRS)?

                                • A. IFRS are seldom used by non-U.S. companies
                                • B. IFRS are commonly required to be used in Asia
                                • C. IFRS may be used instead of generally accepted accounting principles (GAAP) by any U.S.-based corporation
                                • D. IFRS are required to be used by the Securities and Exchange Commission (SEC)
                                Reveal Solution  Discussion  0

                                Correct Answer: B  🗳️

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