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 individual transactions into
financial statements.
3. Accounting Formula that states Assets must equal Liabilities plus Owners' Equity.
Equation/Ac-
counting Identity
4. Assets Liabilities + Owners' Equity
5. Accrual Account- Accounting method that records revenues and expenses when they occur, not
ing necessarily when cash actually changes hands.
6. Advertising Paid non-personal communication, usually targeted at large numbers of potential
buyers
7. Affinity Program Marketing effort sponsored by an organization that solicits involvement by indi-
viduals who share common interests and activities
8. Application Ser- outside supplier that provides both the computers and the application support for
vice Provider 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) good or service purchased to be used, either directly or indirectly, in the produc-
Product tion of other goods for resale
13.
, WGU C201
Study online at https://quizlet.com/_8ctehz
Business Intelli- activities and technologies for gathering, storing, and analyzing data to make
gence 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 Enter- economic system that rewards firms for their ability to perceive and serve the
prise System 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 Advertis- form of institutional advertising that promotes a specific viewpoint on a public
ing 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 Com- set of relationships that indicates who directs which activities and who reports to
mand whom
22. Chief Informa- executive responsible for managing a firm's information system and related
tion Officer (CIO) computer technologies
23. Cloud Comput- powerful servers store applications software and databases for users to access the
ing 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
, WGU C201
Study online at https://quizlet.com/_8ctehz
25. Comarketing cooperative arrangement in which two businesses jointly market each other's
products
26. Committee Orga- organizational structure that places authority and responsibility jointly in the
nization 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 Dif- unique combination of organizational abilities, products, and approaches that
ferentiation sets a company apart from competitors in the minds of customers
30. Competitive Pric- strategy that tries to reduce the emphasis on price competition by matching
ing-Strategy other firms' prices and concentrating their own marketing efforts on the product,
distribution, and promotional elements of the marketing mix
31. Computer-Aided process that allows engineers to design components as well as entire products on
Design (CAD) computer screens faster and with fewer mistakes than they could achieve working
with traditional drafting systems
32. Computer-Aided computer tools to analyze CAD output and enable a manufacturer to analyze the
Manufacturing steps that a machine must take to produce a needed product or part
(CAM)
33. Comput- information systems that rely on computer and related technologies to store
er-Based information electronically in an organized, accessible manner
Information
Systems
34. Computer-Inte- production system in which computers help workers design products, control
grated machines, handle materials, and control the production function in an integrated
fashion
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 individual transactions into
financial statements.
3. Accounting Formula that states Assets must equal Liabilities plus Owners' Equity.
Equation/Ac-
counting Identity
4. Assets Liabilities + Owners' Equity
5. Accrual Account- Accounting method that records revenues and expenses when they occur, not
ing necessarily when cash actually changes hands.
6. Advertising Paid non-personal communication, usually targeted at large numbers of potential
buyers
7. Affinity Program Marketing effort sponsored by an organization that solicits involvement by indi-
viduals who share common interests and activities
8. Application Ser- outside supplier that provides both the computers and the application support for
vice Provider 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) good or service purchased to be used, either directly or indirectly, in the produc-
Product tion of other goods for resale
13.
, WGU C201
Study online at https://quizlet.com/_8ctehz
Business Intelli- activities and technologies for gathering, storing, and analyzing data to make
gence 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 Enter- economic system that rewards firms for their ability to perceive and serve the
prise System 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 Advertis- form of institutional advertising that promotes a specific viewpoint on a public
ing 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 Com- set of relationships that indicates who directs which activities and who reports to
mand whom
22. Chief Informa- executive responsible for managing a firm's information system and related
tion Officer (CIO) computer technologies
23. Cloud Comput- powerful servers store applications software and databases for users to access the
ing 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
, WGU C201
Study online at https://quizlet.com/_8ctehz
25. Comarketing cooperative arrangement in which two businesses jointly market each other's
products
26. Committee Orga- organizational structure that places authority and responsibility jointly in the
nization 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 Dif- unique combination of organizational abilities, products, and approaches that
ferentiation sets a company apart from competitors in the minds of customers
30. Competitive Pric- strategy that tries to reduce the emphasis on price competition by matching
ing-Strategy other firms' prices and concentrating their own marketing efforts on the product,
distribution, and promotional elements of the marketing mix
31. Computer-Aided process that allows engineers to design components as well as entire products on
Design (CAD) computer screens faster and with fewer mistakes than they could achieve working
with traditional drafting systems
32. Computer-Aided computer tools to analyze CAD output and enable a manufacturer to analyze the
Manufacturing steps that a machine must take to produce a needed product or part
(CAM)
33. Comput- information systems that rely on computer and related technologies to store
er-Based information electronically in an organized, accessible manner
Information
Systems
34. Computer-Inte- production system in which computers help workers design products, control
grated machines, handle materials, and control the production function in an integrated
fashion
