WGU C213 ACCOUNTING FOR DECISION
MAKERS ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED
ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED||
||BRANDNEW!!!||2026/2027
What is the correct order of assets on a balance
sheet?
A. Inventory → Cash → Accounts receivable →
Fixed assets
B. Cash → Accounts receivable → Inventory →
Long-term assets
C. Fixed assets → Cash → Inventory → Receivables
D. Accounts receivable → Cash → Inventory →
Liabilities
Correct Answer: B
Rationale:
Assets are listed in order of liquidity, meaning how
quickly they can be converted into cash. Cash is
already liquid, so it appears first. Accounts
,receivable follows because it is expected to be
collected soon. Inventory is less liquid because it
must first be sold before cash is received. Long-term
assets such as equipment and intangibles are least
liquid and appear last.
What distinguishes a manufacturing company
from a service company?
A. Service companies have inventory
B. Manufacturing companies do not report expenses
C. Manufacturing companies include direct materials
inventory
D. Service companies use ABC costing only
Correct Answer: C
Rationale:
Manufacturing companies differ from service
companies because they produce physical goods and
therefore carry inventory, specifically direct
materials, work-in-process, and finished goods.
Service companies do not hold inventory because
they provide intangible services rather than physical
products.
,If sales increase by 10%, how do you calculate
projected sales?
A. Multiply by 0.10
B. Divide by 1.10
C. Multiply by 1.10
D. Subtract 10%
Correct Answer: C
Rationale:
A 10% increase means multiplying the original
amount by 1.10. This converts the base value into
the increased forecasted value. Division is used only
when reversing a growth calculation.
What is the primary role of the SEC?
A. Prepare financial statements
B. Enforce accounting ethics
C. Regulate stock markets and reporting
D. Audit private companies
Correct Answer: C
Rationale:
The SEC regulates U.S. securities markets to ensure
fairness and transparency. It requires public
, companies to file financial reports such as 10-K and
10-Q and enforces compliance with securities laws.
Which costing system is more accurate but more
complex?
A. Traditional costing
B. Job-order costing
C. Activity-based costing
D. Standard costing
Correct Answer: C
Rationale:
Activity-Based Costing (ABC) is more accurate
because it assigns overhead based on actual
activities. However, it is more complex and costly
than traditional costing systems.
Which statement describes fixed costs?
A. Total cost changes with output
B. Cost per unit remains constant
C. Total cost remains constant regardless of output
D. Cost decreases with production
Correct Answer: C
MAKERS ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED
ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED||
||BRANDNEW!!!||2026/2027
What is the correct order of assets on a balance
sheet?
A. Inventory → Cash → Accounts receivable →
Fixed assets
B. Cash → Accounts receivable → Inventory →
Long-term assets
C. Fixed assets → Cash → Inventory → Receivables
D. Accounts receivable → Cash → Inventory →
Liabilities
Correct Answer: B
Rationale:
Assets are listed in order of liquidity, meaning how
quickly they can be converted into cash. Cash is
already liquid, so it appears first. Accounts
,receivable follows because it is expected to be
collected soon. Inventory is less liquid because it
must first be sold before cash is received. Long-term
assets such as equipment and intangibles are least
liquid and appear last.
What distinguishes a manufacturing company
from a service company?
A. Service companies have inventory
B. Manufacturing companies do not report expenses
C. Manufacturing companies include direct materials
inventory
D. Service companies use ABC costing only
Correct Answer: C
Rationale:
Manufacturing companies differ from service
companies because they produce physical goods and
therefore carry inventory, specifically direct
materials, work-in-process, and finished goods.
Service companies do not hold inventory because
they provide intangible services rather than physical
products.
,If sales increase by 10%, how do you calculate
projected sales?
A. Multiply by 0.10
B. Divide by 1.10
C. Multiply by 1.10
D. Subtract 10%
Correct Answer: C
Rationale:
A 10% increase means multiplying the original
amount by 1.10. This converts the base value into
the increased forecasted value. Division is used only
when reversing a growth calculation.
What is the primary role of the SEC?
A. Prepare financial statements
B. Enforce accounting ethics
C. Regulate stock markets and reporting
D. Audit private companies
Correct Answer: C
Rationale:
The SEC regulates U.S. securities markets to ensure
fairness and transparency. It requires public
, companies to file financial reports such as 10-K and
10-Q and enforces compliance with securities laws.
Which costing system is more accurate but more
complex?
A. Traditional costing
B. Job-order costing
C. Activity-based costing
D. Standard costing
Correct Answer: C
Rationale:
Activity-Based Costing (ABC) is more accurate
because it assigns overhead based on actual
activities. However, it is more complex and costly
than traditional costing systems.
Which statement describes fixed costs?
A. Total cost changes with output
B. Cost per unit remains constant
C. Total cost remains constant regardless of output
D. Cost decreases with production
Correct Answer: C
