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WGU C201 EXAM|268 QUESTIONS AND ANSWERS|100% ACCURATE
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WGU C201 EXAM|268 QUESTIONS ANDANSWERS|100% ACCURATE
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.
-Accounting Equation/Accounting Identity - -Formula that states Assets
must equal Liabilities plus Owners' Equity.
-Assets - -Liabilities + Owners' Equity
-Accrual Accounting - -Accounting method that records revenues and
expenses when they occur, not necessarily when cash actually changes
hands.
-Advertising - -Paid non-personal communication, usually targeted at large
numbers of potential buyers
-Affinity Program - -Marketing effort sponsored by an organization that
solicits involvement by individuals who share common interests and
activities
-Application Service Provider - -outside supplier that provides both the
computers and the application support for managing an information system
-Asset - -anything of value owned or leased by a company
-Balance Sheet - -statement of a firm's financial position on a particular
date
-Balanced Budget - -situation in which total revenues raised by taxes and
fees equal total proposed government spending for the year
-Business (B2B) Product - -good or service purchased to be used, either
directly or indirectly, in the production of other goods for resale
-Business Intelligence - -activities and technologies for gathering, storing,
and analyzing data to make better competitive decisions
-Capital Structure - -mix of a firm's debt and equity capital
, -Capitalism - -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 - -economic system that rewards firms for their
ability to perceive and serve the needs and demands of consumers; also
called Capitalism
-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
-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
-Cause Marketing - -marketing that promotes a cause or social issue, such
as preventing child abuse, anti-littering efforts, and stop smoking campaigns
-Centralization - -decision making based at the top of the management
hierarchy
-Chain of Command - -set of relationships that indicates who directs which
activities and who reports to whom
-Chief Information Officer (CIO) - -executive responsible for managing a
firm's information system and related computer technologies
-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
-Cobranding - -cooperative arrangement in which two or more businesses
team up to closely link their names on a single product
-Comarketing - -cooperative arrangement in which two businesses jointly
market each other's products
-Committee Organization - -organizational structure that places authority
and responsibility jointly in the hands of a group of individuals rather than a
single manager
-Common Stock - -basic form of corporate ownership
, -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
-Competitive Differentiation - -unique combination of organizational
abilities, products, and approaches that sets a company apart from
competitors in the minds of customers
-Competitive Pricing-Strategy - -strategy that tries to reduce the emphasis
on price competition by matching other firms' prices and concentrating their
own marketing efforts on the product, distribution, and promotional elements
of the marketing mix
-Computer-Aided Design (CAD) - -process that allows engineers to design
components as well as entire products on computer screens faster and with
fewer mistakes than they could achieve working with traditional drafting
systems
-Computer-Aided Manufacturing (CAM) - -computer tools to analyze CAD
output and enable a manufacturer to analyze the steps that a machine must
take to produce a needed product or part
-Computer-Based Information Systems - -information systems that rely on
computer and related technologies to store information electronically in an
organized, accessible manner
-Computer-Integrated Manufacturing (CIM) - -production system in which
computers help workers design products, control machines, handle
materials, and control the production function in an integrated fashion
-Consumer (B2C) Product - -good or service that is purchased by end users
-Consumer Behavior - -actions of ultimate consumers directly involved in
obtaining, consuming, and disposing of products and the decision processes
that precede and follow these actions
-Consumer Price Index (CPI) - -measurement of the monthly average
change in prices of goods and services
-Controlling - -function of evaluating an organization's performance against
its objectives
-Cooperative Advertising - -allowances provided by marketers in which they
share the cost of local advertising of their firm's product or product line with
channel partners
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