WGU Accounting for Decision Makers C213 VAC2
Last Update Apr 15, 2026
Total Questions : 69
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Which source of cash is the best indicator of a firm's viability as an ongoing concern?
What does the overall economic performance of a company for a given time period represent?
In January of Year 1, a company began doing business as a corporation in order to sell technology-related accessories and services. During its first month of operations, the following events occurred:
January 1
The corporation received $900,000 in cash in exchange for stock issued to stockholders.
January 3
The corporation borrowed $250,000 from a bank. The loan is a four-year loan with an interest rate of 12%, payable each year on January 1 beginning in Year 2.
January 5
The corporation purchased equipment to be used in the business for $200,000 cash.
January 8
The corporation purchased inventory costing $200,000 by paying $120,000 in cash. The remainder was put on credit accounts with suppliers.
January 15
The corporation hired five employees. Each employee will be paid $1,000 at the end of each month.
January 30
The corporation paid $6,000 cash for a one-year insurance policy. The policy period will begin on February 1, Year 1.
What will be the impact of the January 1 event on the company’s balance sheet on that date, along with an increase to cash of $900,000?
Which two details can management determine through a cost-volume-profit analysis?
Choose 2 answers.
What would be the appropriate cost driver to allocate overhead for a call center?
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?
Which organization establishes rules U.S. companies use to record and report accounting transactions?
Which act was implemented as a result of the corporate scandals at companies such as Enron and WorldCom?
What is a significant role of the U.S. Securities and Exchange Commission (SEC) in financial reporting?
Which internal control is intended to ensure that a company does not mistakenly pay a supplier for an invoice that includes more items than were actually received?
Last year, X Corporation had sales of $500,000 and total expenses of $300,000. A manager of the company is entitled to get a sales commission of 10% of net profit.
What amount of sales commission is to be recognized at year-end?
Which action should a managerial accountant consider taking if confronted by an ethical conflict?
Which events represent financial information recorded in the accounting system of a business?
A company prepared the following contribution margin income statement for the actual sale of 10,000 shoes:
Sales revenue = $600,000
Variable costs = $400,000
Contribution margin = $200,000
Less fixed costs = $150,000
Net income = $50,000
What would be the forecasted net income for the sale of 14,000 shoes based on the actual results above?
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?
How are activity-based costing systems different from traditional costing systems?
Which balance sheet category reflects what a company owns that can be turned into cash or used to generate cash?
TESTED 15 Apr 2026
