WGU C 201BUSINESS ACUMEN Exam Questions With Detailed 100% Correct Answers
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Course
WGU C201
Institution
WGU C201
WGU C201 BUSINESS ACUMEN Exam Questions With Detailed 100% Correct Answers
Compare the kinds of plans made by top managers and middle managers. - Answer-Top managers focus on long-range, strategic plans. In contrast, middle-level managers focus on short term tactical planning.
.Define Brand E...
.4 Basic Requirements to Accounting Rules - Answer-consistency, relevance, reliability
and comparability
.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.
.Accrual Accounting - Answer-Accounting method that records revenues and expenses
when they occur, not necessarily when cash actually changes hands.
.Acid Test Ratio - Answer-Current Assets - Inventory/Current Liabilities
.Activity Ratio - Answer-measures the effectiveness of the firm's use of its resources
.Activity Ratios - Answer-Inventory Turnover Ratio, Total Asset Turnover Ratio and
Receivables Turnover Ratio
.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
.Assets - Answer-Liabilities + Owners' Equity
.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
.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
.Commercial Paper - Answer-loans from $100,00 and up, which mature in 1 to 270 days
, .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
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