WGU C201
Study online at https://quizlet.com/_8ctehz
1. Accounting: Process of measuring, interpreting, and communicating financial
information to enable people inside and outside the firm to make informed decisions.
2. Accounting Cycle: Set of activities involved in converting information and indi-
vidual transactions into financial statements.
3. Accounting Equation/Accounting Identity: Formula that states Assets must
equal Liabilities plus Owners' Equity.
4. Assets: Liabilities + Owners' Equity
5. Accrual Accounting: Accounting method that records revenues and expenses
when they occur, not necessarily when cash actually changes hands.
6. Advertising: Paid non-personal communication, usually targeted at large num-
bers of potential buyers
7. Affinity Program: Marketing effort sponsored by an organization that solicits
involvement by individuals who share common interests and activities
8. Application Service Provider: outside supplier that provides both the computers
and the application support for managing an information system
9. Asset: anything of value owned or leased by a company
10. Balance Sheet: statement of a firm's financial position on a particular date
11. Balanced Budget: situation in which total revenues raised by taxes and fees
equal total proposed government spending for the year
12. Business (B2B) Product: good or service purchased to be used, either directly
or indirectly, in the production of other goods for resale
13. Business Intelligence: activities and technologies for gathering, storing, and
analyzing data to make better competitive decisions
14. Capital Structure: mix of a firm's debt and equity capital
15. Capitalism: economic system that rewards firms for their ability to perceive and
serve the needs and demands of consumers; also called Private Enterprise System
16. Private Enterprise System: economic system that rewards firms for their ability
to perceive and serve the needs and demands of consumers; also called Capitalism
17. Category Advisor: 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
18. Cause Advertising: form of institutional advertising that promotes a specific
viewpoint on a public issue as a way to influence public opinion and the legislative
process
19. Cause Marketing: marketing that promotes a cause or social issue, such as
preventing child abuse, anti-littering efforts, and stop smoking campaigns
20. Centralization: decision making based at the top of the management hierarchy
21. Chain of Command: set of relationships that indicates who directs which activ-
ities and who reports to whom
, WGU C201
Study online at https://quizlet.com/_8ctehz
22. Chief Information Officer (CIO): executive responsible for managing a firm's
information system and related computer technologies
23. Cloud Computing: 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
24. Cobranding: cooperative arrangement in which two or more businesses team
up to closely link their names on a single product
25. Comarketing: cooperative arrangement in which two businesses jointly market
each other's products
26. Committee Organization: organizational structure that places authority and
responsibility jointly in the hands of a group of individuals rather than a single
manager
27. Common Stock: basic form of corporate ownership
28. Communism: economic system in which all property would be shared equally
by the people of a community under the direction of a strong central government
29. Competitive Differentiation: unique combination of organizational abilities,
products, and approaches that sets a company apart from competitors in the minds
of customers
30. Competitive Pricing-Strategy: strategy that tries to reduce the emphasis on
price competition by matching other firms' prices and concentrating their own mar-
keting efforts on the product, distribution, and promotional elements of the marketing
mix
31. Computer-Aided Design (CAD): process that allows engineers to design com-
ponents as well as entire products on computer screens faster and with fewer
mistakes than they could achieve working with traditional drafting systems
32. Computer-Aided Manufacturing (CAM): computer tools to analyze CAD out-
put and enable a manufacturer to analyze the steps that a machine must take to
produce a needed product or part
33. Computer-Based Information Systems: information systems that rely on com-
puter and related technologies to store information electronically in an organized,
accessible manner
34. Computer-Integrated Manufacturing (CIM): production system in which com-
puters help workers design products, control machines, handle materials, and
control the production function in an integrated fashion
35. Consumer (B2C) Product: good or service that is purchased by end users
36. Consumer Behavior: actions of ultimate consumers directly involved in obtain-
ing, consuming, and disposing of products and the decision processes that precede
and follow these actions
Study online at https://quizlet.com/_8ctehz
1. Accounting: Process of measuring, interpreting, and communicating financial
information to enable people inside and outside the firm to make informed decisions.
2. Accounting Cycle: Set of activities involved in converting information and indi-
vidual transactions into financial statements.
3. Accounting Equation/Accounting Identity: Formula that states Assets must
equal Liabilities plus Owners' Equity.
4. Assets: Liabilities + Owners' Equity
5. Accrual Accounting: Accounting method that records revenues and expenses
when they occur, not necessarily when cash actually changes hands.
6. Advertising: Paid non-personal communication, usually targeted at large num-
bers of potential buyers
7. Affinity Program: Marketing effort sponsored by an organization that solicits
involvement by individuals who share common interests and activities
8. Application Service Provider: outside supplier that provides both the computers
and the application support for managing an information system
9. Asset: anything of value owned or leased by a company
10. Balance Sheet: statement of a firm's financial position on a particular date
11. Balanced Budget: situation in which total revenues raised by taxes and fees
equal total proposed government spending for the year
12. Business (B2B) Product: good or service purchased to be used, either directly
or indirectly, in the production of other goods for resale
13. Business Intelligence: activities and technologies for gathering, storing, and
analyzing data to make better competitive decisions
14. Capital Structure: mix of a firm's debt and equity capital
15. Capitalism: economic system that rewards firms for their ability to perceive and
serve the needs and demands of consumers; also called Private Enterprise System
16. Private Enterprise System: economic system that rewards firms for their ability
to perceive and serve the needs and demands of consumers; also called Capitalism
17. Category Advisor: 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
18. Cause Advertising: form of institutional advertising that promotes a specific
viewpoint on a public issue as a way to influence public opinion and the legislative
process
19. Cause Marketing: marketing that promotes a cause or social issue, such as
preventing child abuse, anti-littering efforts, and stop smoking campaigns
20. Centralization: decision making based at the top of the management hierarchy
21. Chain of Command: set of relationships that indicates who directs which activ-
ities and who reports to whom
, WGU C201
Study online at https://quizlet.com/_8ctehz
22. Chief Information Officer (CIO): executive responsible for managing a firm's
information system and related computer technologies
23. Cloud Computing: 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
24. Cobranding: cooperative arrangement in which two or more businesses team
up to closely link their names on a single product
25. Comarketing: cooperative arrangement in which two businesses jointly market
each other's products
26. Committee Organization: organizational structure that places authority and
responsibility jointly in the hands of a group of individuals rather than a single
manager
27. Common Stock: basic form of corporate ownership
28. Communism: economic system in which all property would be shared equally
by the people of a community under the direction of a strong central government
29. Competitive Differentiation: unique combination of organizational abilities,
products, and approaches that sets a company apart from competitors in the minds
of customers
30. Competitive Pricing-Strategy: strategy that tries to reduce the emphasis on
price competition by matching other firms' prices and concentrating their own mar-
keting efforts on the product, distribution, and promotional elements of the marketing
mix
31. Computer-Aided Design (CAD): process that allows engineers to design com-
ponents as well as entire products on computer screens faster and with fewer
mistakes than they could achieve working with traditional drafting systems
32. Computer-Aided Manufacturing (CAM): computer tools to analyze CAD out-
put and enable a manufacturer to analyze the steps that a machine must take to
produce a needed product or part
33. Computer-Based Information Systems: information systems that rely on com-
puter and related technologies to store information electronically in an organized,
accessible manner
34. Computer-Integrated Manufacturing (CIM): production system in which com-
puters help workers design products, control machines, handle materials, and
control the production function in an integrated fashion
35. Consumer (B2C) Product: good or service that is purchased by end users
36. Consumer Behavior: actions of ultimate consumers directly involved in obtain-
ing, consuming, and disposing of products and the decision processes that precede
and follow these actions
