OBJECTIVE ASSESSMENT COMPREHENSIVE EXAMINATION | 100 VERIFIED QUESTIONS & RATIONALES | NEWEST EXAM 2026/2027
WGU C213
ACCOUNTING FOR
DECISION MAKERS
WESTERN GOVERNORS UNIVERSITY
100 QUESTIONS C213 ACCOUNTING RATIONALES 2026/2027 NEWEST
, EXAM COVERAGE AREAS
Domain 1: Financial Accounting & Statements
• Financial accounting GAAP
• Financial statements income balance cash flow
• Accounting equation Assets=Liabilities+Equity
• Revenue recognition
Domain 2: Managerial Accounting & Costing
• Managerial vs financial
• Cost types fixed variable direct indirect
• Job order process costing
• Budgeting
Domain 3: CVP, Budgeting & Decision Making
• CVP break-even contribution margin
• Budgeting master budget
• Decision making relevant costs
• Performance
Domain 4: Ratios & Ethics
• Ratio analysis liquidity profitability
• Ethics in accounting
• Sarbanes-Oxley
• Latest
WGU C213 Accounting for Decision Makers 2026/2027 OA 100Q Page 2
, QUESTION 1: Accounting equation and financial statements?
A) Assets=Liabilities+Equity, Income Revenues-Expenses, Balance Assets Liabilities Equity, Cash
flow operating investing financing
B) No equation
C) Only income
D) Only balance
CORRECT ANSWER: A) Assets=Liabilities+Equity, Income Revenues-Expenses,
Balance Assets Liabilities Equity, Cash flow operating investing financing
RATIONALE: Financial accounting: equation Assets=Liabilities+Equity, income statement
revenues-expenses=net income, balance sheet assets liabilities equity snapshot, cash flow operating
investing financing, statement retained earnings. GAAP accrual vs cash revenue recognition matching
principle.
QUESTION 2: Fixed vs variable costs and break-even?
A) Fixed constant total rent, variable changes with volume materials, break-even fixed / contribution
margin per unit
B) Same
C) Only fixed
D) Only variable
CORRECT ANSWER: A) Fixed constant total rent, variable changes with volume
materials, break-even fixed / contribution margin per unit
RATIONALE: Cost types: fixed constant total rent salary, variable changes total with volume direct materials
per unit constant, mixed. Contribution margin sales-variable, CM ratio CM/sales, break-even units fixed/CM
per unit sales fixed/CM ratio. CVP cost volume profit.
QUESTION 3: Job order vs process costing?
A) Job order custom unique jobs WIP, process costing homogeneous mass production equivalent
units
B) Same
C) Only job order
D) Only process
CORRECT ANSWER: A) Job order custom unique jobs WIP, process costing
homogeneous mass production equivalent units
RATIONALE: Costing: job order costing custom unique jobs construction job cost sheet materials labor
overhead WIP, process costing homogeneous mass production chemicals equivalent units FIFO weighted
average. Overhead predetermined rate estimated overhead / allocation base.
QUESTION 4: Master budget components?
A) Sales production direct materials direct labor overhead SG&A cash capital budgeted income
balance
B) No budget
C) Only sales
D) Only production
WGU C213 Accounting for Decision Makers 2026/2027 OA 100Q Page 3
WGU C213
ACCOUNTING FOR
DECISION MAKERS
WESTERN GOVERNORS UNIVERSITY
100 QUESTIONS C213 ACCOUNTING RATIONALES 2026/2027 NEWEST
, EXAM COVERAGE AREAS
Domain 1: Financial Accounting & Statements
• Financial accounting GAAP
• Financial statements income balance cash flow
• Accounting equation Assets=Liabilities+Equity
• Revenue recognition
Domain 2: Managerial Accounting & Costing
• Managerial vs financial
• Cost types fixed variable direct indirect
• Job order process costing
• Budgeting
Domain 3: CVP, Budgeting & Decision Making
• CVP break-even contribution margin
• Budgeting master budget
• Decision making relevant costs
• Performance
Domain 4: Ratios & Ethics
• Ratio analysis liquidity profitability
• Ethics in accounting
• Sarbanes-Oxley
• Latest
WGU C213 Accounting for Decision Makers 2026/2027 OA 100Q Page 2
, QUESTION 1: Accounting equation and financial statements?
A) Assets=Liabilities+Equity, Income Revenues-Expenses, Balance Assets Liabilities Equity, Cash
flow operating investing financing
B) No equation
C) Only income
D) Only balance
CORRECT ANSWER: A) Assets=Liabilities+Equity, Income Revenues-Expenses,
Balance Assets Liabilities Equity, Cash flow operating investing financing
RATIONALE: Financial accounting: equation Assets=Liabilities+Equity, income statement
revenues-expenses=net income, balance sheet assets liabilities equity snapshot, cash flow operating
investing financing, statement retained earnings. GAAP accrual vs cash revenue recognition matching
principle.
QUESTION 2: Fixed vs variable costs and break-even?
A) Fixed constant total rent, variable changes with volume materials, break-even fixed / contribution
margin per unit
B) Same
C) Only fixed
D) Only variable
CORRECT ANSWER: A) Fixed constant total rent, variable changes with volume
materials, break-even fixed / contribution margin per unit
RATIONALE: Cost types: fixed constant total rent salary, variable changes total with volume direct materials
per unit constant, mixed. Contribution margin sales-variable, CM ratio CM/sales, break-even units fixed/CM
per unit sales fixed/CM ratio. CVP cost volume profit.
QUESTION 3: Job order vs process costing?
A) Job order custom unique jobs WIP, process costing homogeneous mass production equivalent
units
B) Same
C) Only job order
D) Only process
CORRECT ANSWER: A) Job order custom unique jobs WIP, process costing
homogeneous mass production equivalent units
RATIONALE: Costing: job order costing custom unique jobs construction job cost sheet materials labor
overhead WIP, process costing homogeneous mass production chemicals equivalent units FIFO weighted
average. Overhead predetermined rate estimated overhead / allocation base.
QUESTION 4: Master budget components?
A) Sales production direct materials direct labor overhead SG&A cash capital budgeted income
balance
B) No budget
C) Only sales
D) Only production
WGU C213 Accounting for Decision Makers 2026/2027 OA 100Q Page 3
