WGU C201 Questions with complete solution 2024

WGU C201 Questions with complete solution 2024 Accounting - correct answer Process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions. Accounting Cycle - correct answer Set of activities involved in converting information and individual transactions into financial statements. Accounting Equation/Accounting Identity - correct answer Formula that states Assets must equal Liabilities plus Owners' Equity. Assets - correct answer Liabilities + Owners' Equity Accrual Accounting - correct answer Accounting method that records revenues and expenses when they occur, not necessarily when cash actually changes hands. Advertising - correct answer Paid non-personal communication, usually targeted at large numbers of potential buyers Affinity Program - correct answer Marketing effort sponsored by an organization that solicits involvement by individuals who share common interests and activities Application Service Provider - correct answer outside supplier that provides both the computers and the application support for managing an information system