C201 BUSINESS ACUMEN WGU EXAM 2024/2025 QUESTIONS with 100% CORRECT ANSWERS
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Course
WGU C201
Institution
WGU C201
C201 BUSINESS ACUMEN WGU EXAM 2024/2025 QUESTIONS with 100% CORRECT ANSWERS
Sample Question & Answer:
Chief Information Officer (CIO) - Answer - executive responsible for managing a firm's information system and related computer technologies
C201 BUSINESS ACUMEN WGU
EXAM 2024/2025 QUESTIONS with
100% CORRECT ANSWERS
Accounting - Answer - Process of measuring, interpreting, and communicating financial
information to enable people inside and outside the firm to make informed decisions.
Accounting Cycle - Answer - Set of activities involved in converting information and
individual transactions into financial statements.
Accounting Equation/Accounting Identity - Answer - Formula that states Assets must
equal Liabilities plus Owners' Equity.
Assets - Answer - Liabilities + Owners' Equity
Accrual Accounting - Answer - Accounting method that records revenues and expenses
when they occur, not necessarily when cash actually changes hands.
Advertising - Answer - Paid non-personal communication, usually targeted at large
numbers of potential buyers
Affinity Program - Answer - Marketing effort sponsored by an organization that solicits
involvement by individuals who share common interests and activities
Application Service Provider - Answer - outside supplier that provides both the
computers and the application support for managing an information system
Asset - Answer - anything of value owned or leased by a company
Balance Sheet - Answer - statement of a firm's financial position on a particular date
Balanced Budget - Answer - situation in which total revenues raised by taxes and fees
equal total proposed government spending for the year
Business (B2B) Product - Answer - good or service purchased to be used, either directly
or indirectly, in the production of other goods for resale
Business Intelligence - Answer - activities and technologies for gathering, storing, and
analyzing data to make better competitive decisions
,Capital Structure - Answer - mix of a firm's debt and equity capital
Capitalism - Answer - 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 - Answer - economic system that rewards firms for their
ability to perceive and serve the needs and demands of consumers; also called
Capitalism
Category Advisor - Answer - 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 - Answer - 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 - Answer - marketing that promotes a cause or social issue, such as
preventing child abuse, anti-littering efforts, and stop smoking campaigns
Centralization - Answer - decision making based at the top of the management
hierarchy
Chain of Command - Answer - set of relationships that indicates who directs which
activities and who reports to whom
Chief Information Officer (CIO) - Answer - executive responsible for managing a firm's
information system and related computer technologies
Cloud Computing - Answer - 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 - Answer - cooperative arrangement in which two or more businesses team
up to closely link their names on a single product
Comarketing - Answer - cooperative arrangement in which two businesses jointly
market each other's products
Committee Organization - Answer - organizational structure that places authority and
responsibility jointly in the hands of a group of individuals rather than a single manager
Common Stock - Answer - basic form of corporate ownership
Communism - Answer - 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 - Answer - unique combination of organizational abilities,
products, and approaches that sets a company apart from competitors in the minds of
customers
Competitive Pricing-Strategy - Answer - 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) - Answer - 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) - Answer - 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 - Answer - information systems that rely on
computer and related technologies to store information electronically in an organized,
accessible manner
Computer-Integrated Manufacturing (CIM) - Answer - 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 - Answer - good or service that is purchased by end users
Consumer Behavior - Answer - 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) - Answer - measurement of the monthly average change in
prices of goods and services
Controlling - Answer - function of evaluating an organization's performance against its
objectives
Cooperative Advertising - Answer - allowances provided by marketers in which they
share the cost of local advertising of their firm's product or product line with channel
partners
Core Inflation Rate - Answer - inflation rate of an economy after energy and food prices
are removed
Cost-Based Pricing - Answer - formulas that calculate total costs per unit and then add
markups to cover overhead costs and generate profits
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