WGU C201 EXAM QUESTIONS WITH
100% CORRECT ANSWERS L LATEST
VERSION 2025/2026.
Accounting - ANS Process of measuring, interpreting, and communicating financial
information to enable people inside and outside the firm to make informed decisions.
Accounting Cycle - ANS Set of activities involved in converting information and individual
transactions into financial statements.
Accounting Equation/Accounting Identity - ANS Formula that states Assets must equal
Liabilities plus Owners' Equity.
Assets - ANS Liabilities + Owners' Equity
Accrual Accounting - ANS Accounting method that records revenues and expenses when they
occur, not necessarily when cash actually changes hands.
Advertising - ANS Paid non-personal communication, usually targeted at large numbers of
potential buyers
Affinity Program - ANS Marketing effort sponsored by an organization that solicits
involvement by individuals who share common interests and activities
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
,Application Service Provider - ANS outside supplier that provides both the computers and the
application support for managing an information system
Asset - ANS anything of value owned or leased by a company
Balance Sheet - ANS statement of a firm's financial position on a particular date
Balanced Budget - ANS situation in which total revenues raised by taxes and fees equal total
proposed government spending for the year
Business (B2B) Product - ANS good or service purchased to be used, either directly or
indirectly, in the production of other goods for resale
Business Intelligence - ANS activities and technologies for gathering, storing, and analyzing
data to make better competitive decisions
Capital Structure - ANS mix of a firm's debt and equity capital
Capitalism - ANS economic system that rewards firms for their ability to perceive and serve
the needs and demands of consumers; also called Private Enterprise System
Private Enterprise System - ANS economic system that rewards firms for their ability to
perceive and serve the needs and demands of consumers; also called Capitalism
Category Advisor - ANS 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
Cause Advertising - ANS form of institutional advertising that promotes a specific viewpoint
on a public issue as a way to influence public opinion and the legislative process
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Cause Marketing - ANS marketing that promotes a cause or social issue, such as preventing
child abuse, anti-littering efforts, and stop smoking campaigns
Centralization - ANS decision making based at the top of the management hierarchy
Chain of Command - ANS set of relationships that indicates who directs which activities and
who reports to whom
Chief Information Officer (CIO) - ANS executive responsible for managing a firm's information
system and related computer technologies
Cloud Computing - ANS 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
Cobranding - ANS cooperative arrangement in which two or more businesses team up to
closely link their names on a single product
Comarketing - ANS cooperative arrangement in which two businesses jointly market each
other's products
Committee Organization - ANS organizational structure that places authority and
responsibility jointly in the hands of a group of individuals rather than a single manager
Common Stock - ANS basic form of corporate ownership
Communism - ANS economic system in which all property would be shared equally by the
people of a community under the direction of a strong central government
Competitive Differentiation - ANS unique combination of organizational abilities, products,
and approaches that sets a company apart from competitors in the minds of customers
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
100% CORRECT ANSWERS L LATEST
VERSION 2025/2026.
Accounting - ANS Process of measuring, interpreting, and communicating financial
information to enable people inside and outside the firm to make informed decisions.
Accounting Cycle - ANS Set of activities involved in converting information and individual
transactions into financial statements.
Accounting Equation/Accounting Identity - ANS Formula that states Assets must equal
Liabilities plus Owners' Equity.
Assets - ANS Liabilities + Owners' Equity
Accrual Accounting - ANS Accounting method that records revenues and expenses when they
occur, not necessarily when cash actually changes hands.
Advertising - ANS Paid non-personal communication, usually targeted at large numbers of
potential buyers
Affinity Program - ANS Marketing effort sponsored by an organization that solicits
involvement by individuals who share common interests and activities
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
,Application Service Provider - ANS outside supplier that provides both the computers and the
application support for managing an information system
Asset - ANS anything of value owned or leased by a company
Balance Sheet - ANS statement of a firm's financial position on a particular date
Balanced Budget - ANS situation in which total revenues raised by taxes and fees equal total
proposed government spending for the year
Business (B2B) Product - ANS good or service purchased to be used, either directly or
indirectly, in the production of other goods for resale
Business Intelligence - ANS activities and technologies for gathering, storing, and analyzing
data to make better competitive decisions
Capital Structure - ANS mix of a firm's debt and equity capital
Capitalism - ANS economic system that rewards firms for their ability to perceive and serve
the needs and demands of consumers; also called Private Enterprise System
Private Enterprise System - ANS economic system that rewards firms for their ability to
perceive and serve the needs and demands of consumers; also called Capitalism
Category Advisor - ANS 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
Cause Advertising - ANS form of institutional advertising that promotes a specific viewpoint
on a public issue as a way to influence public opinion and the legislative process
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, Cause Marketing - ANS marketing that promotes a cause or social issue, such as preventing
child abuse, anti-littering efforts, and stop smoking campaigns
Centralization - ANS decision making based at the top of the management hierarchy
Chain of Command - ANS set of relationships that indicates who directs which activities and
who reports to whom
Chief Information Officer (CIO) - ANS executive responsible for managing a firm's information
system and related computer technologies
Cloud Computing - ANS 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
Cobranding - ANS cooperative arrangement in which two or more businesses team up to
closely link their names on a single product
Comarketing - ANS cooperative arrangement in which two businesses jointly market each
other's products
Committee Organization - ANS organizational structure that places authority and
responsibility jointly in the hands of a group of individuals rather than a single manager
Common Stock - ANS basic form of corporate ownership
Communism - ANS economic system in which all property would be shared equally by the
people of a community under the direction of a strong central government
Competitive Differentiation - ANS unique combination of organizational abilities, products,
and approaches that sets a company apart from competitors in the minds of customers
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
