WGU C201 exam questions with answers

WGU C201 exam questions with answers
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Accounting - CORRECT ANSWERS ✔✔Process of measuring, interpreting,
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and communicating financial information to enable people inside and
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outside the firm to make informed decisions.
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Accounting Cycle - CORRECT ANSWERS ✔✔Set of activities involved in
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converting information and individual transactions into financial statements.
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Accounting Equation/Accounting Identity - CORRECT ANSWERS
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✔✔Formula that states Assets must equal Liabilities plus Owners' Equity.
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Assets - CORRECT ANSWERS ✔✔Liabilities + Owners' Equity
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Accrual Accounting - CORRECT ANSWERS ✔✔Accounting method that
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records revenues and expenses when they occur, not necessarily when cash
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actually changes hands.
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Advertising - CORRECT ANSWERS ✔✔Paid non-personal communication,
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usually targeted at large numbers of potential buyers
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Affinity Program - CORRECT ANSWERS ✔✔Marketing effort sponsored by
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an organization that solicits involvement by individuals who share common
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interests and activities /\ /\

,Application Service Provider - CORRECT ANSWERS ✔✔outside supplier that
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provides both the computers and the application support for managing an
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information system /\




Asset - CORRECT ANSWERS ✔✔anything of value owned or leased by a
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company



Balance Sheet - CORRECT ANSWERS ✔✔statement of a firm's financial
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position on a particular date
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Balanced Budget - CORRECT ANSWERS ✔✔situation in which total
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revenues raised by taxes and fees equal total proposed government spending
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for the year
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Business (B2B) Product - CORRECT ANSWERS ✔✔good or service
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purchased to be used, either directly or indirectly, in the production of other
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goods for resale
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Business Intelligence - CORRECT ANSWERS ✔✔activities and technologies
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for gathering, storing, and analyzing data to make better competitive
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decisions



Capital Structure - CORRECT ANSWERS ✔✔mix of a firm's debt and equity
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capital

,Capitalism - CORRECT ANSWERS ✔✔economic system that rewards firms
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for their ability to perceive and serve the needs and demands of consumers;
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also called Private Enterprise System
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Private Enterprise System - CORRECT ANSWERS ✔✔economic system that
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rewards firms for their ability to perceive and serve the needs and demands of
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consumers; also called Capitalism
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Category Advisor - CORRECT ANSWERS ✔✔vendor that is designated by
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the business customer as the major supplier to assume responsibility for
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dealing with all the other vendors for a project and presenting the entire
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package to the business buyer /\ /\ /\ /\




Cause Advertising - CORRECT ANSWERS ✔✔form of institutional
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advertising that promotes a specific viewpoint on a public issue as a way to
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influence public opinion and the legislative process
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Cause Marketing - CORRECT ANSWERS ✔✔marketing that promotes a
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cause or social issue, such as preventing child abuse, anti-littering efforts,
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and stop smoking campaigns
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Centralization - CORRECT ANSWERS ✔✔decision making based at the top /\ /\ /\ /\ /\ /\ /\ /\ /\ /\




of the management hierarchy
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Chain of Command - CORRECT ANSWERS ✔✔set of relationships that
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indicates who directs which activities and who reports to whom
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, Chief Information Officer (CIO) - CORRECT ANSWERS ✔✔executive
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responsible for managing a firm's information system and related computer
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technologies



Cloud Computing - CORRECT ANSWERS ✔✔powerful servers store
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applications software and databases for users to access the software and
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databases via the Web using anything from a PC to a smart phone
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Cobranding - CORRECT ANSWERS ✔✔cooperative arrangement in which
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two or more businesses team up to closely link their names on a single
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product



Comarketing - CORRECT ANSWERS ✔✔cooperative arrangement in which
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two businesses jointly market each other's products
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Committee Organization - CORRECT ANSWERS ✔✔organizational
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structure that places authority and responsibility jointly in the hands of a
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group of individuals rather than a single manager
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Common Stock - CORRECT ANSWERS ✔✔basic form of corporate
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ownership



Communism - CORRECT ANSWERS ✔✔economic system in which all
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property would be shared equally by the people of a community under the
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direction of a strong central government
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