BUSINESS · 2026/2027 LATEST UPDATE
WGU C213 Accounting for Decision Makers -
OA Prep Notes 2026/2027 - Complete Study
Guide
100+ Verified Exam Questions · Rated A+ · Guaranteed Results
✔ Financial Accounting ✔ Budgeting & Cost Behavior
✔ Managerial Accounting ✔ Decision Making & Ethics
✔ Financial Statement Analysis
Instant PDF Download · 100% Verified Answers · Score 90%+
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 1 of 52
, BEST SELLER · BUSINESS
WGU C213 Accounting for Decision Makers
- OA Prep Notes 2026/2027 - Q&A with
Verified Answers
Every section. Every topic. 100% correct answers guaranteed. Used by
5,000+ business students to pass on their first attempt.
Financial Accounting Managerial Accounting
Financial Statement Analysis Budgeting & Cost Behavior
Decision Making & Ethics
A+
Rated
Used by 5,000+ students · 100% Verified Answers · 2026/2027 Latest Update
Instant PDF Download
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 2 of 52
,SECTION 1 | Financial Accounting | Q1-Q20 | WGU C213 Accounting for Decision Makers - OA Prep Notes 2026/2027
Q1 Question 1 of 100
A retail company purchases inventory for $45,000 on account under the perpetual
inventory system. When the goods are later sold for $62,000 on account, what additional
entry is required beyond recording the revenue?
A. Debit Inventory $45,000 and credit Cost of Goods Sold $45,000
B. Debit Cost of Goods Sold $45,000 and credit Inventory $45,000
C. Debit Accounts Payable $45,000 and credit Inventory $45,000
D. Debit Cost of Goods Sold $62,000 and credit Sales Revenue $62,000
Correct Answer: B
Rationale:
Under the perpetual system, two entries are recorded at the time of sale: one for revenue and one for
cost of goods sold. The cost entry debits COGS and credits Inventory for the original cost of $45,000.
The $62,000 is the selling price, not the cost, so option D is incorrect.
Q2 Question 2 of 100
Mountain View Corp. issues 10,000 shares of $5 par common stock at $22 per share.
The amount credited to Additional Paid-in Capital is:
A. $170,000
B. $220,000
C. $50,000
D. $270,000
Correct Answer: A
Rationale:
Cash received is 10,000 times $22 = $220,000. Common stock is recorded at par value: 10,000 times $5
= $50,000. The excess of $220,000 minus $50,000 = $170,000 is credited to Additional Paid-in Capital.
Option B is total cash, and option C is only the par value.
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 3 of 52
, Q3 Question 3 of 100
At year-end, Tech Solutions has total assets of $890,000, total liabilities of $340,000, and
common stock of $200,000. No dividends were declared. Retained earnings must be:
A. $350,000
B. $550,000
C. $690,000
D. $200,000
Correct Answer: A
Rationale:
Using the accounting equation: Assets = Liabilities + Stockholders Equity. Therefore $890,000 =
$340,000 + $200,000 + Retained Earnings. Solving gives Retained Earnings = $890,000 minus
$540,000 = $350,000. Option B incorrectly subtracts only liabilities from assets.
Q4 Question 4 of 100
Lakeside Manufacturing purchased a machine for $120,000 with a useful life of 10 years
and a $10,000 residual value. Using straight-line depreciation, the book value at the end
of year 4 is:
A. $76,000
B. $82,000
C. $72,000
D. $84,000
Correct Answer: A
Rationale:
Annual depreciation = ($120,000 minus $10,000) divided by 10 = $11,000. Accumulated depreciation
after 4 years = $44,000. Book value = $120,000 minus $44,000 = $76,000. Option B miscalculates by
not using the residual value, and option C omits one year of depreciation.
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 4 of 52
WGU C213 Accounting for Decision Makers -
OA Prep Notes 2026/2027 - Complete Study
Guide
100+ Verified Exam Questions · Rated A+ · Guaranteed Results
✔ Financial Accounting ✔ Budgeting & Cost Behavior
✔ Managerial Accounting ✔ Decision Making & Ethics
✔ Financial Statement Analysis
Instant PDF Download · 100% Verified Answers · Score 90%+
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 1 of 52
, BEST SELLER · BUSINESS
WGU C213 Accounting for Decision Makers
- OA Prep Notes 2026/2027 - Q&A with
Verified Answers
Every section. Every topic. 100% correct answers guaranteed. Used by
5,000+ business students to pass on their first attempt.
Financial Accounting Managerial Accounting
Financial Statement Analysis Budgeting & Cost Behavior
Decision Making & Ethics
A+
Rated
Used by 5,000+ students · 100% Verified Answers · 2026/2027 Latest Update
Instant PDF Download
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 2 of 52
,SECTION 1 | Financial Accounting | Q1-Q20 | WGU C213 Accounting for Decision Makers - OA Prep Notes 2026/2027
Q1 Question 1 of 100
A retail company purchases inventory for $45,000 on account under the perpetual
inventory system. When the goods are later sold for $62,000 on account, what additional
entry is required beyond recording the revenue?
A. Debit Inventory $45,000 and credit Cost of Goods Sold $45,000
B. Debit Cost of Goods Sold $45,000 and credit Inventory $45,000
C. Debit Accounts Payable $45,000 and credit Inventory $45,000
D. Debit Cost of Goods Sold $62,000 and credit Sales Revenue $62,000
Correct Answer: B
Rationale:
Under the perpetual system, two entries are recorded at the time of sale: one for revenue and one for
cost of goods sold. The cost entry debits COGS and credits Inventory for the original cost of $45,000.
The $62,000 is the selling price, not the cost, so option D is incorrect.
Q2 Question 2 of 100
Mountain View Corp. issues 10,000 shares of $5 par common stock at $22 per share.
The amount credited to Additional Paid-in Capital is:
A. $170,000
B. $220,000
C. $50,000
D. $270,000
Correct Answer: A
Rationale:
Cash received is 10,000 times $22 = $220,000. Common stock is recorded at par value: 10,000 times $5
= $50,000. The excess of $220,000 minus $50,000 = $170,000 is credited to Additional Paid-in Capital.
Option B is total cash, and option C is only the par value.
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 3 of 52
, Q3 Question 3 of 100
At year-end, Tech Solutions has total assets of $890,000, total liabilities of $340,000, and
common stock of $200,000. No dividends were declared. Retained earnings must be:
A. $350,000
B. $550,000
C. $690,000
D. $200,000
Correct Answer: A
Rationale:
Using the accounting equation: Assets = Liabilities + Stockholders Equity. Therefore $890,000 =
$340,000 + $200,000 + Retained Earnings. Solving gives Retained Earnings = $890,000 minus
$540,000 = $350,000. Option B incorrectly subtracts only liabilities from assets.
Q4 Question 4 of 100
Lakeside Manufacturing purchased a machine for $120,000 with a useful life of 10 years
and a $10,000 residual value. Using straight-line depreciation, the book value at the end
of year 4 is:
A. $76,000
B. $82,000
C. $72,000
D. $84,000
Correct Answer: A
Rationale:
Annual depreciation = ($120,000 minus $10,000) divided by 10 = $11,000. Accumulated depreciation
after 4 years = $44,000. Book value = $120,000 minus $44,000 = $76,000. Option B miscalculates by
not using the residual value, and option C omits one year of depreciation.
WGU C213 Accounting for Decision Makers - OA Prep Notes - 2026/2027 | Passing Score: 80% | Page 4 of 52
