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WGU Accounting for Decision Makers C213 VAC2 Sample Questions:
1. Which current asset on a balance sheet appears first in the traditional category order for U.S.-based companies?
A) Inventory
B) Accounts receivable
C) Prepaid expenses
D) Cash
2. What does management accounting present?
A) Data to predict inconsistencies in finances to help users within a company make decisions
B) Detailed data regarding a business's overall economic performance to help outside stakeholders make decisions
C) Information regarding the qualifications of managers to help shareholders make decisions
D) Information regarding a business's overall economic performance to help shareholders make decisions
3. Which overhead cost is associated with batch-level activities?
A) Property taxes
B) Factory insurance
C) Machine setups
D) Product engineering wages
4. Which user group of financial statements evaluates the ability to repay loans?
A) Investors
B) Lenders
C) Management
D) Suppliers
5. Which two item subtotals are included in a multi-step income statement?
Choose 2 answers.
A) Gross profit
B) Income from operations
C) Current liabilities
D) Total assets
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: A,B |
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