WGU C201 UPDATED ACTUAL EXAM
QUESTIONS AND CORRECT ANSWERS
●● Accounting Cycle
Answer: Set of activities involved in converting information and
individual transactions into financial statements.
●● Accounting Equation/Accounting Identity
Answer: Formula that states Assets must equal Liabilities plus Owners'
Equity.
●● Assets
Answer: Liabilities + Owners' Equity
●● Accrual Accounting
Answer: Accounting method that records revenues and expenses when
they occur, not necessarily when cash actually changes hands.
●● Advertising
Answer: Paid non-personal communication, usually targeted at large
numbers of potential buyers
●● Affinity Program
,Answer: Marketing effort sponsored by an organization that solicits
involvement by individuals who share common interests and activities
●● Application Service Provider
Answer: outside supplier that provides both the computers and the
application support for managing an information system
●● Asset
Answer: anything of value owned or leased by a company
●● Balance Sheet
Answer: statement of a firm's financial position on a particular date
●● Balanced Budget
Answer: situation in which total revenues raised by taxes and fees equal
total proposed government spending for the year
●● Business (B2B) Product
Answer: good or service purchased to be used, either directly or
indirectly, in the production of other goods for resale
●● Business Intelligence
,Answer: activities and technologies for gathering, storing, and analyzing
data to make better competitive decisions
●● Capital Structure
Answer: mix of a firm's debt and equity capital
●● Capitalism
Answer: economic system that rewards firms for their ability to perceive
and serve the needs and demands of consumers; also called Private
Enterprise System
●● Private Enterprise System
Answer: economic system that rewards firms for their ability to perceive
and serve the needs and demands of consumers; also called Capitalism
●● Category Advisor
Answer: vendor that is designated by the business customer as the major
supplier to assume responsibility for dealing with all the other vendors
for a project and presenting the entire package to the business buyer
●● Cause Advertising
Answer: form of institutional advertising that promotes a specific
viewpoint on a public issue as a way to influence public opinion and the
legislative process
, ●● Cause Marketing
Answer: marketing that promotes a cause or social issue, such as
preventing child abuse, anti-littering efforts, and stop smoking
campaigns
●● Centralization
Answer: decision making based at the top of the management hierarchy
●● Chain of Command
Answer: set of relationships that indicates who directs which activities
and who reports to whom
●● Chief Information Officer (CIO)
Answer: executive responsible for managing a firm's information system
and related computer technologies
●● Cloud Computing
Answer: powerful servers store applications software and databases for
users to access the software and databases via the Web using anything
from a PC to a smart phone
●● Cobranding
QUESTIONS AND CORRECT ANSWERS
●● Accounting Cycle
Answer: Set of activities involved in converting information and
individual transactions into financial statements.
●● Accounting Equation/Accounting Identity
Answer: Formula that states Assets must equal Liabilities plus Owners'
Equity.
●● Assets
Answer: Liabilities + Owners' Equity
●● Accrual Accounting
Answer: Accounting method that records revenues and expenses when
they occur, not necessarily when cash actually changes hands.
●● Advertising
Answer: Paid non-personal communication, usually targeted at large
numbers of potential buyers
●● Affinity Program
,Answer: Marketing effort sponsored by an organization that solicits
involvement by individuals who share common interests and activities
●● Application Service Provider
Answer: outside supplier that provides both the computers and the
application support for managing an information system
●● Asset
Answer: anything of value owned or leased by a company
●● Balance Sheet
Answer: statement of a firm's financial position on a particular date
●● Balanced Budget
Answer: situation in which total revenues raised by taxes and fees equal
total proposed government spending for the year
●● Business (B2B) Product
Answer: good or service purchased to be used, either directly or
indirectly, in the production of other goods for resale
●● Business Intelligence
,Answer: activities and technologies for gathering, storing, and analyzing
data to make better competitive decisions
●● Capital Structure
Answer: mix of a firm's debt and equity capital
●● Capitalism
Answer: economic system that rewards firms for their ability to perceive
and serve the needs and demands of consumers; also called Private
Enterprise System
●● Private Enterprise System
Answer: economic system that rewards firms for their ability to perceive
and serve the needs and demands of consumers; also called Capitalism
●● Category Advisor
Answer: vendor that is designated by the business customer as the major
supplier to assume responsibility for dealing with all the other vendors
for a project and presenting the entire package to the business buyer
●● Cause Advertising
Answer: form of institutional advertising that promotes a specific
viewpoint on a public issue as a way to influence public opinion and the
legislative process
, ●● Cause Marketing
Answer: marketing that promotes a cause or social issue, such as
preventing child abuse, anti-littering efforts, and stop smoking
campaigns
●● Centralization
Answer: decision making based at the top of the management hierarchy
●● Chain of Command
Answer: set of relationships that indicates who directs which activities
and who reports to whom
●● Chief Information Officer (CIO)
Answer: executive responsible for managing a firm's information system
and related computer technologies
●● Cloud Computing
Answer: powerful servers store applications software and databases for
users to access the software and databases via the Web using anything
from a PC to a smart phone
●● Cobranding
