WGU C483 - Principles of Management
Exam Questions And Answers
Practice Questions with Solutions
Newest 2026 2027 | Already Graded A+
Activity-based costing (ABC) - Answer- A method of cost accounting designed to
identify streams of activity and then to allocate costs across particular business
processes according to the amount of time employees devote to particular activities
Adapters - Answer- Companies that take the current industry structure and its evolution
as givens, and choose where to compete
Adverse impact - Answer- When a seemingly neutral employment practice has a
disproportionately negative effect on a protected group
Accommodation - Answer- A style of dealing with conflict involving cooperation on
behalf of the other party but not being assertive about one's own interests
Accountability - Answer- The expectation that employees will perform a job, take
corrective action when necessary, and report upward on the status and quality of their
performance
Accounting audits - Answer- Procedures used to verify accounting reports and
statements
Acquisition - Answer- One firm buying another
Advertising support model - Answer- Charging fees to advertise on a site
Affective conflict - Answer- Emotional disagreement directed toward other people
Affiliate model - Answer- Charging fees to direct site visitors to other companies' sites
Affirmative action - Answer- Special efforts to recruit and hire qualified members of
groups that have been discriminated against in the past
After-action review - Answer- A frank and open-minded discussion of four basic
questions aimed at continuous improvement
Alderfer's ERG theory - Answer- A human needs theory postulating that people have
three basic sets of needs that can operate simultaneously (Existence, Relatedness and
Growth)
,Arbitration - Answer- The use of a neutral third party to resolve a labor dispute
Assessment center - Answer- A managerial performance test in which candidates
participate in a variety of exercises and situations
Assets - Answer- The values of the various items the corporation owns
Authentic leadership - Answer- A style in which the leader is true to himself or herself
while leading
Authority - Answer- The legitimate right to make decisions and to tell other people what
to do
Autocratic leadership - Answer- A form of leadership in which the leader makes
decisions on his or her own and then announces those decisions to the group
Autonomous work groups - Answer- Groups that control decisions about and execution
of a complete range of tasks
Avoidance - Answer- A reaction to conflict that involves ignoring the problem by doing
nothing at all or deemphasizing the disagreement
Balanced scorecard - Answer- Control system combining four sets of performance
measures: financial, customer, business process, and learning and growth
Balance sheet - Answer- A report that shows the financial picture of a company at a
given time and itemizes assets, liabilities, and stockholders' equity
Barriers to entry - Answer- Conditions that prevent new companies from entering an
industry
Behavioral approach - Answer- A leadership perspective that attempts to identify what
good leaders do—that is, what behaviors they exhibit
Benchmarking - Answer- The process of comparing an organization's practices and
technologies with those of other companies
Bootlegging - Answer- Informal work on projects, other than those officially assigned, of
employees' own choosing and initiative
Boundaryless organization - Answer- Organization in which there are no barriers to
information flow
Boundary-spanning - Answer- Interacting with people in other groups, thus creating
linkages between groups
, Bounded rationality - Answer- A less-than-perfect form of rationality in which decision
makers cannot be perfectly rational because decisions are complex and complete
information is unavailable or cannot be fully processed
Brainstorming - Answer- A process in which group members generate as many ideas
about a problem as they can; criticism is withheld until all ideas have been proposed
Broker - Answer- A person who assembles and coordinates participants in a network
Budgeting - Answer- The process of investigating what is being done and comparing the
results with the corresponding budget data to verify accomplishments or remedy
differences; also called budgetary controlling
Buffering - Answer- Creating supplies of excess resources in case of unpredictable
needs
Bureaucratic control - Answer- The use of rules, regulations, and authority to guide
performance
Business accelerators - Answer- Organization that provides support and advice to help
young businesses grow
Business ethics - Answer- The moral principles and standards that guide behavior in the
world of business
Business incubators - Answer- Protected environments for new, small businesses
Business plan - Answer- A formal planning step that focuses on the entire venture and
describes all the elements involved in starting it
Business strategy - Answer- The major actions by which a business competes in a
particular industry or market
Cafeteria benefit program - Answer- An employee benefit program in which employees
choose from a menu of options to create a benefit package tailored to their needs
Carbon footprint - Answer- The output of carbon dioxide and other greenhouses gases
Caux Principles - Answer- Ethical principles established by international executives
based in Caux, Switzerland, in collaboration with business leaders from Japan, Europe,
and the United States
Centralized organization - Answer- An organization in which high-level executives make
most decisions and pass them down to lower levels for implementation
Exam Questions And Answers
Practice Questions with Solutions
Newest 2026 2027 | Already Graded A+
Activity-based costing (ABC) - Answer- A method of cost accounting designed to
identify streams of activity and then to allocate costs across particular business
processes according to the amount of time employees devote to particular activities
Adapters - Answer- Companies that take the current industry structure and its evolution
as givens, and choose where to compete
Adverse impact - Answer- When a seemingly neutral employment practice has a
disproportionately negative effect on a protected group
Accommodation - Answer- A style of dealing with conflict involving cooperation on
behalf of the other party but not being assertive about one's own interests
Accountability - Answer- The expectation that employees will perform a job, take
corrective action when necessary, and report upward on the status and quality of their
performance
Accounting audits - Answer- Procedures used to verify accounting reports and
statements
Acquisition - Answer- One firm buying another
Advertising support model - Answer- Charging fees to advertise on a site
Affective conflict - Answer- Emotional disagreement directed toward other people
Affiliate model - Answer- Charging fees to direct site visitors to other companies' sites
Affirmative action - Answer- Special efforts to recruit and hire qualified members of
groups that have been discriminated against in the past
After-action review - Answer- A frank and open-minded discussion of four basic
questions aimed at continuous improvement
Alderfer's ERG theory - Answer- A human needs theory postulating that people have
three basic sets of needs that can operate simultaneously (Existence, Relatedness and
Growth)
,Arbitration - Answer- The use of a neutral third party to resolve a labor dispute
Assessment center - Answer- A managerial performance test in which candidates
participate in a variety of exercises and situations
Assets - Answer- The values of the various items the corporation owns
Authentic leadership - Answer- A style in which the leader is true to himself or herself
while leading
Authority - Answer- The legitimate right to make decisions and to tell other people what
to do
Autocratic leadership - Answer- A form of leadership in which the leader makes
decisions on his or her own and then announces those decisions to the group
Autonomous work groups - Answer- Groups that control decisions about and execution
of a complete range of tasks
Avoidance - Answer- A reaction to conflict that involves ignoring the problem by doing
nothing at all or deemphasizing the disagreement
Balanced scorecard - Answer- Control system combining four sets of performance
measures: financial, customer, business process, and learning and growth
Balance sheet - Answer- A report that shows the financial picture of a company at a
given time and itemizes assets, liabilities, and stockholders' equity
Barriers to entry - Answer- Conditions that prevent new companies from entering an
industry
Behavioral approach - Answer- A leadership perspective that attempts to identify what
good leaders do—that is, what behaviors they exhibit
Benchmarking - Answer- The process of comparing an organization's practices and
technologies with those of other companies
Bootlegging - Answer- Informal work on projects, other than those officially assigned, of
employees' own choosing and initiative
Boundaryless organization - Answer- Organization in which there are no barriers to
information flow
Boundary-spanning - Answer- Interacting with people in other groups, thus creating
linkages between groups
, Bounded rationality - Answer- A less-than-perfect form of rationality in which decision
makers cannot be perfectly rational because decisions are complex and complete
information is unavailable or cannot be fully processed
Brainstorming - Answer- A process in which group members generate as many ideas
about a problem as they can; criticism is withheld until all ideas have been proposed
Broker - Answer- A person who assembles and coordinates participants in a network
Budgeting - Answer- The process of investigating what is being done and comparing the
results with the corresponding budget data to verify accomplishments or remedy
differences; also called budgetary controlling
Buffering - Answer- Creating supplies of excess resources in case of unpredictable
needs
Bureaucratic control - Answer- The use of rules, regulations, and authority to guide
performance
Business accelerators - Answer- Organization that provides support and advice to help
young businesses grow
Business ethics - Answer- The moral principles and standards that guide behavior in the
world of business
Business incubators - Answer- Protected environments for new, small businesses
Business plan - Answer- A formal planning step that focuses on the entire venture and
describes all the elements involved in starting it
Business strategy - Answer- The major actions by which a business competes in a
particular industry or market
Cafeteria benefit program - Answer- An employee benefit program in which employees
choose from a menu of options to create a benefit package tailored to their needs
Carbon footprint - Answer- The output of carbon dioxide and other greenhouses gases
Caux Principles - Answer- Ethical principles established by international executives
based in Caux, Switzerland, in collaboration with business leaders from Japan, Europe,
and the United States
Centralized organization - Answer- An organization in which high-level executives make
most decisions and pass them down to lower levels for implementation
