ENHANCED BY AI.!!
WGU C201 BUSINESS ACUMEN OBJECTIVE
ASSESSMENT LATES VERSIONS A & B
LATEST EXAM
• The _____ is a set of activities involved in converting information and
individual transactions into financial statements. - ANS ✔Accounting
Cycle
• Of the four financial statements, only the _____ is considered to be a
permanent statement. - ANS ✔Balance Sheet
Correct answer icon Your answer is correct.
• How is a cash budget different from the accrual system? - ANS ✔Cash
budgets reflect the timing of actual cash inflows and outflows; the
accrual system matches expenses to the period when they occur
• A company's ability to meet its short-term obligations is measured by -
ANS ✔Liquidity Ratios
• conversion of government-owned and operated companies into
privately held businesses - ANS ✔Privatization
ENHANCED BY AI.!!
, ENHANCED BY AI.!!
• relationship between the number of units produced and the number of
human and other production inputs necessary to produce them - ANS
✔productivity
• market structure in which large numbers of buyers and sellers exchange
homogeneous products and no single participant has a significant
influence on price - ANS ✔pure competition
• cyclical economic contraction that lasts for six months or longer - ANS
✔Recession
• market situation in which a local, state, or federal government grants
exclusive rights in a certain market to a single firm - ANS ✔regulated
monopolies
• government actions to reduce the money supply to curb rising prices,
overexpansion, and concerns about overly rapid economic growth - ANS
✔restrictive money
• joblessness of workers in a seasonal industry - ANS ✔Seasonal
Unemployment
ENHANCED BY AI.!!
, ENHANCED BY AI.!!
• economic system characterized by government ownership and
operation of major industries such as communications - ANS ✔Socialism
• people who remain unemployed for long periods of time, often with
little hope of finding new jobs like their old ones - ANS ✔structural
unemployment
• willingness and ability of sellers to provide goods and services - ANS
✔Supply
• Graph that shows the relationship between different prices and the
quantities that sellers will offer for sale, regardless of demand. - ANS
✔Supply curve
• percentage of the total workforce actively seeking work but currently
unemployed - ANS ✔Unemployment Rate
• function of evaluating an organization's performance against its
objectives - ANS ✔Controlling
• organization's system of principles, beliefs, and values - ANS ✔Corporate
Culture
ENHANCED BY AI.!!
, ENHANCED BY AI.!!
• process of recognizing a problem or opportunity, evaluating alternative
solutions, selecting and implementing an alternative, and assessing the
results - ANS ✔Decision Making
• managerial process of assigning work to employees - ANS ✔Delegation
• process of dividing work activities into units within the organization -
ANS ✔Departmentalization
• guiding and motivating employees to accomplish organizational
objectives - ANS ✔Directing
• giving employees authority and responsibility to make decisions about
their work - ANS ✔Empowerment
• the ability to direct or inspire others to achieve goals - ANS ✔Leadership
• process of achieving organizational objectives through people and other
resources - ANS ✔management
ENHANCED BY AI.!!
WGU C201 BUSINESS ACUMEN OBJECTIVE
ASSESSMENT LATES VERSIONS A & B
LATEST EXAM
• The _____ is a set of activities involved in converting information and
individual transactions into financial statements. - ANS ✔Accounting
Cycle
• Of the four financial statements, only the _____ is considered to be a
permanent statement. - ANS ✔Balance Sheet
Correct answer icon Your answer is correct.
• How is a cash budget different from the accrual system? - ANS ✔Cash
budgets reflect the timing of actual cash inflows and outflows; the
accrual system matches expenses to the period when they occur
• A company's ability to meet its short-term obligations is measured by -
ANS ✔Liquidity Ratios
• conversion of government-owned and operated companies into
privately held businesses - ANS ✔Privatization
ENHANCED BY AI.!!
, ENHANCED BY AI.!!
• relationship between the number of units produced and the number of
human and other production inputs necessary to produce them - ANS
✔productivity
• market structure in which large numbers of buyers and sellers exchange
homogeneous products and no single participant has a significant
influence on price - ANS ✔pure competition
• cyclical economic contraction that lasts for six months or longer - ANS
✔Recession
• market situation in which a local, state, or federal government grants
exclusive rights in a certain market to a single firm - ANS ✔regulated
monopolies
• government actions to reduce the money supply to curb rising prices,
overexpansion, and concerns about overly rapid economic growth - ANS
✔restrictive money
• joblessness of workers in a seasonal industry - ANS ✔Seasonal
Unemployment
ENHANCED BY AI.!!
, ENHANCED BY AI.!!
• economic system characterized by government ownership and
operation of major industries such as communications - ANS ✔Socialism
• people who remain unemployed for long periods of time, often with
little hope of finding new jobs like their old ones - ANS ✔structural
unemployment
• willingness and ability of sellers to provide goods and services - ANS
✔Supply
• Graph that shows the relationship between different prices and the
quantities that sellers will offer for sale, regardless of demand. - ANS
✔Supply curve
• percentage of the total workforce actively seeking work but currently
unemployed - ANS ✔Unemployment Rate
• function of evaluating an organization's performance against its
objectives - ANS ✔Controlling
• organization's system of principles, beliefs, and values - ANS ✔Corporate
Culture
ENHANCED BY AI.!!
, ENHANCED BY AI.!!
• process of recognizing a problem or opportunity, evaluating alternative
solutions, selecting and implementing an alternative, and assessing the
results - ANS ✔Decision Making
• managerial process of assigning work to employees - ANS ✔Delegation
• process of dividing work activities into units within the organization -
ANS ✔Departmentalization
• guiding and motivating employees to accomplish organizational
objectives - ANS ✔Directing
• giving employees authority and responsibility to make decisions about
their work - ANS ✔Empowerment
• the ability to direct or inspire others to achieve goals - ANS ✔Leadership
• process of achieving organizational objectives through people and other
resources - ANS ✔management
ENHANCED BY AI.!!
