WGU C201 Guides d'étude, Notes de cours & Résumés

WGU C201Accounting - correct answer Process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions. Accounting Cycle - correct answer Set of activities involved in converting information and individual transactions into financial statements. Accounting Equation/Accounting Identity - correct answer Formula that states Assets must equal Liabilities plus Owners' Equity. Assets - correct answer Lia...

WGU C201 | Business Acumen | Chapter 7The achievement of organizational objectives through the use of people and other resources. The skills and principles of management apply in both profit and not-for-profit organizations. - correct answer Management ______ has three levels: top, middle, and supervisory management. Top management sets the long-term direction, vision, and values of the organization. Middle managers focus on specific operations, products, or customer groups and implement st...

WGU C201 Business Acumenbalanced budget situation in which total revenues raised by taxes equal the total proposed spending for the year. budget organization's plan for how it will raise and spend money during a given period of time. taxes, fees, and borrowing. The primary sources of government funds to cover the costs of the annual budget are budget deficit situation in which the government spends more than the amount of money it raises through taxes. budget surplus ex...

WGU C201 Business Acumen Chapter 10: Operations and Quality ManagementProduction - correct answer Begins with inputs + add value = produce a good or service. Operations Management - relates to this process. Why is production such an important business activity? - correct answer Without products to sell, companies cannot generate money. Goal: lower the cost of production, boost the quality of goods and services, respond dependably to customers, and continuously improve. In what ways...

WGU C201 Business Acumen Chapter 11, 12, 13: Marketing Marketing - correct answer The process for discovering unmet customer needs, researching potential markets, producing goods or services to satisfy targeted customers, promoting, pricing, and distributing. The organizational function and set of processes for creating, communicating and delivering value to customers, managing customer relations, advocates ideas or viewpoints and educating others. How does marketing create utility? - cor...

WGU C201 Business Acumen Chapter 15 & 16: Accounting and Financial Statements - RatiosCurrent assets / current liabilities - correct answer Current Ratio Current assets - minus inventory / current liabilities - correct answer Acid Test (Quick) Ratio Current assets $250 Inventory $20 Current Liabilities $100 250-20=230 230/100=2.2 $2.20 assets for every $1 in liabilities Acid Test (Quick) Ratio and Current Ratio - correct answer Liquidity Ratios Inventory Turnover, Receivabl...

WGU C201 Business Acumen Chapter 17: Financial ManagementFinancial Structure - correct answer Chief Financial Officer, Vice President of Finance, Treasurer, and Controller Chief Financial Officer - correct answer Leader of the financial team. Reports to Chief Executive Officer. May be on board of directors. This person and CEO must certify accuracy of financial statements. Vice President of Finance - correct answer Makes recommendations to CFO for where to invest capital. Prep...

WGU C201 Business Acumen Chapters 3 & 7: Economics and Organizational StructureFactors Influencing Demand - correct answer Demand is driven by price, consumer preferences, the economy, the number of buyers in a market, customer incomes, price of substitutes and complimentary items. Factors of Production - correct answer Natural resources, capital, human resources and entrepreneurship. What is the key factor influencing demand? - correct answer Price Demand Curve - correct answer ...

WGU C201 Business Acumen Custom Glossary accounting process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions accounting cycle set of activities involved in converting information and individual transactions into financial statements Brainpower Read More accounting equation formula that states that assets must equal liabilities plus owners' equity accrual accounting accounting metho...

WGU C201 Business Acumen Study GuideWhat are the two types of divestitures? - correct answer A sell-off is a divestiture in which assets are sold to another company. In a spin-off, a new company is created from the assets divested. Shareholders of the divesting company become shareholders of the new company as well. What is an LBO? - correct answer a leveraged buyout is a transaction in which public shareholders are bought out, and the company reverts to private status. LBOs are usually f...