Free WGU Accounting-for-Decision-Makers Exam Questions

Become WGU Certified with updated Accounting-for-Decision-Makers exam questions and correct answers

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Total 70 Questions | Updated On: Aug 03, 2026

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Question 1

The following list provides partial financial information for a company.Beginning cash balance = $1,200Received cash from sales of goods = $16,000Paid wages and salaries = $4,500Received cash from non-trading securities = $5,000Paid cash for plant assets = $6,000Received cash from loans = $8,000Paid cash in repayment of loans = $2,000What is the ending cash balance for this company?

A : $18,700

B : $16,500

C : $20,000

D : $17,700

Answer: D

Question 2

What does the overall economic performance of a company for a given time period represent?

A : The net income of the company

B : Whether or not cash received from sales exceeds cash paid for business expenses for a given time period

C : Whether or not a company’s sales exceed the costs of the products sold for a given time period

D : The overall market value of the company

Answer: A

Question 3

What can be determined when a firm performs an external audit of a company's financial statements?

A : Whether a company’s financial statements indicate it made a profit

B : Whether a company’s financial statements fairly reflect its financial position

C : Whether a company’s financial statements indicate that the company has to pay income taxes

D : Whether a company’s financial statements were prepared by a trained bookkeeper

Answer: B

Question 4

During the year, a company purchased goods on a credit basis for its supplies of $750.What would be the impact on the accounting equation and financial statement?

A : Increase in assets by $750 and decrease in liability by $750

B : Decrease in assets by $750 and increase in liability by $750

C : Increase in assets by $750 and increase in liability by $750

D : Decrease in assets by $750 and decrease in liability by $750

Answer: C

Question 5