Accounting-for-Decision-Makers Certification Exam Cost - Reliable Accounting-for-Decision-Makers Exam Voucher

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

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

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                                WGU Accounting for Decision Makers C213 VAC2 Sample Questions (Q63-Q68):

                                NEW QUESTION # 63
                                The following list provides partial financial information for a company.
                                Current assets = $36,543
                                Total assets = $58,719
                                Current liabilities = $24,824
                                Total liabilities = $48,561
                                Stockholders' equity = $10,158
                                Sales = $46,997
                                Net income = $3,761
                                Market value of equity = $41,316
                                What is the current ratio for this company?

                                Answer: B

                                Explanation:
                                The correct answer is C. 1.47 . The current ratio measures a company's ability to pay its short-term obligations using its short-term assets. The formula is:
                                Current ratio = Current assets / Current liabilities
                                Using the given figures:
                                Current ratio = 36,543 / 24,824 = 1.4721 , which rounds to 1.47
                                This means the company has $1.47 of current assets for every $1.00 of current liabilities . In financial analysis, this is generally viewed as a sign that the company has a reasonable short-term liquidity position, although the ideal ratio depends on the industry and the quality of the current assets. For example, cash and receivables are usually more liquid than inventory.
                                Option A is close, but it is not the correct rounded result. Option B is incorrect because it would indicate current liabilities exceed current assets. Option D is far too high based on the numbers given. Since the question asks specifically for the current ratio , the correct calculation and answer are clearly 1.47 , making Option C the right choice.


                                NEW QUESTION # 64
                                A company presently uses traditional volume-based costing to allocate overhead to its products.
                                The following table provides information on two of the company's products:
                                Product A
                                Product B
                                Selling price
                                $8
                                $12
                                Direct material
                                $2
                                $3
                                Direct labor
                                $1
                                $2
                                Applied overhead
                                $3
                                $4
                                Gross margin
                                $2
                                $3
                                Overhead that would be applied to Product A would increase to $8 per unit after identifying cost pools and cost drivers, and the overhead applied to Product B would drop to $2 per unit .
                                How would this change in the way overhead is allocated affect the selling price of both products?

                                Answer: D

                                Explanation:
                                The correct answer is C . Under activity-based costing (ABC) , overhead is reassigned based on the activities that actually drive cost consumption. ABC often reveals that one product was previously undercosted while another was overcosted under traditional volume-based allocation. OpenStax explains that ABC can shift overhead between products and provide more accurate product-cost information for pricing and decision- making.
                                For Product A , the new overhead rises from $3 to $8 , increasing total unit cost from $6 ($2 + $1 + $3) to
                                $11 ($2 + $1 + $8). Since the current selling price is only $8 , Product A is now shown as underpriced, so its selling price would likely need to increase . For Product B , overhead falls from $4 to $2 , reducing total unit cost from $9 to $7 . With a current selling price of $12 , Product B appears more profitable than previously believed, so management could choose to decrease its price if needed for competitive reasons. Therefore, the most logical result is Product A price up, Product B price down , which is Option C .


                                NEW QUESTION # 65
                                Which two procedures do external auditors use to gain confidence in the quality of a company's financial reporting processes?
                                Choose 2 answers.

                                Answer: B,D

                                Explanation:
                                The correct answers are A and C . External auditors gather audit evidence by examining accounting records and supporting documents and by obtaining evidence directly from third parties . PCAOB standards describe confirmation as a procedure for obtaining audit evidence from a knowledgeable external source, and this is commonly used for items such as cash, receivables, and certain terms of transactions.
                                Examining records to support balances and transactions is another core audit procedure. Auditors inspect invoices, contracts, bank statements, reconciliations, journals, and other documentation to determine whether reported balances are supported and fairly stated. These procedures directly relate to the reliability of financial reporting. In contrast, customer satisfaction surveys, marketing analysis, and public-image polling may be useful for business strategy or branding, but they are not standard external audit procedures used to support financial statement assertions. Audit work focuses on relevant, reliable evidence tied to existence, completeness, valuation, rights and obligations, and presentation. Therefore, the two valid procedures are examining records and obtaining third-party confirmations , making A and C the correct answers.


                                NEW QUESTION # 66
                                Which role do ethical standards have in management accounting?

                                Answer: C


                                NEW QUESTION # 67
                                The following cost-volume-profit graph shows revenues and costs at various levels of production.
                                How many units should this company sell each month to realize a profit?

                                Answer: D

                                Explanation:
                                The best answer is D. 275 . In a cost-volume-profit (CVP) graph , a company begins to realize a profit only after total revenue rises above total cost. The point where the total revenue line intersects the total cost line is the break-even point . At that exact level, profit is zero. To earn a profit, the company must sell more units than the break-even amount .
                                Because your pasted graph is partially distorted, the most reasonable interpretation is that the break-even point is shown at about 250 units . If that is the break-even level, then the first answer choice that would produce an actual profit is 275 units . That is why Option D is the most defensible answer from the graph and choices provided.
                                This follows basic CVP logic:
                                * Below break-even = loss
                                * At break-even = zero profit
                                * Above break-even = profit
                                So if 250 units represents the break-even point on the graph, the company would need to sell 275 units to realize a profit. Therefore, the best answer is D .


                                NEW QUESTION # 68
                                ......

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