WGU D075 UNIT 4 BUSINESS MANAGEMENT|
BUSINESS EXAM PRACTICE QUESTIONS
WITH CORRECT ANSWERS
What are the five core business departments? --ANSWER--
Accounting
Research and Development
Human Resources
Production or Operations
Marketing
How does the accounting department use IT? --ANSWER--The
accounting department measures and provides financial information
about an organization. It uses IT to obtain updated sales information,
process AR/AP, and requires a network system to operate.
How does the research and development department use IT? --
ANSWER--The research and development department keep business
growing through innovation. It uses IT to gather insights on
competitors, market performance, and recognize trends.
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,How does the human resource department use IT? --ANSWER--The
human resources department manages the employee life cycle. It uses
IT to hire/terminate employees and for electronic training materials.
How does the production/operations department use IT? --ANSWER-
-The production/operations department prepares goods and services to
be sold. It uses IT by obtaining orders, maintaining inventory, and
making material orders.
How does the marketing department use IT? --ANSWER--The
marketing department promotes the business's products/services. It
uses IT through data analytics for market research and web-based
promotions.
What does it mean to leverage IT in business? --ANSWER--Using IT
tools and systems strategically to achieve greater business goals. To
maximize the potential of technology to enhance operations, improve
efficiency, and gain a competitive advantage, often by automating
tasks, accessing data insights, and connecting with customers more
effectively.
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,What is Supply Chain Management? --ANSWER--A network of
businesses, individuals, organizations, resources, and activities that
are involved in creating and delivering a product or service to a
customer.
How is IT an integral part of Supply Chain Management? --
ANSWER--It coordinates between suppliers and buyers.
How is IT an integral part of the IT supply chain? --ANSWER--IT
system connects between supplier and buyer allowing for real-time
communication and data sharing.
Explain "Just In Time". --ANSWER--A supplier can track buyer's
needs making sure products are produced and delivered when needed,
minimizing inventory cost and maximizing production efficiency.
Define Extranet. --ANSWER--An intranet that can be partially
accessed by authorized outside users.
What is GAAP? --ANSWER--Generally Accepted Accounting
Principles: accounting rules for preparing, presenting, and reporting
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, financial statements so an organization and its investors can have a
standard set of reports regarding a business's well-being.
What is the Sarbones-Oxley Act of 2002 (SOX)? --ANSWER--
Mandates certain practices in financial record keeping and reporting
for corporations. Banned company loads to executives and provides
job protection to whistleblowers.
What impact does IT have on SOX? --ANSWER--SOX requires
companies to implement robust IT systems and controls to ensure the
accuracy and integrity of financial records, which means IT plays a
critical role in achieving compliance with SOX regulations by
facilitating the tracking, monitoring, and safeguarding of financial
data across the organization.
How does IT impact Production? --ANSWER--IT helps augment
decision-making when deciding what goods/services to produce, how
to produce them, and the most efficient, cost-effective way to
maximize profits.
What are Goods? --ANSWER--Merchandise or possessions.
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BUSINESS EXAM PRACTICE QUESTIONS
WITH CORRECT ANSWERS
What are the five core business departments? --ANSWER--
Accounting
Research and Development
Human Resources
Production or Operations
Marketing
How does the accounting department use IT? --ANSWER--The
accounting department measures and provides financial information
about an organization. It uses IT to obtain updated sales information,
process AR/AP, and requires a network system to operate.
How does the research and development department use IT? --
ANSWER--The research and development department keep business
growing through innovation. It uses IT to gather insights on
competitors, market performance, and recognize trends.
Page | 1
,How does the human resource department use IT? --ANSWER--The
human resources department manages the employee life cycle. It uses
IT to hire/terminate employees and for electronic training materials.
How does the production/operations department use IT? --ANSWER-
-The production/operations department prepares goods and services to
be sold. It uses IT by obtaining orders, maintaining inventory, and
making material orders.
How does the marketing department use IT? --ANSWER--The
marketing department promotes the business's products/services. It
uses IT through data analytics for market research and web-based
promotions.
What does it mean to leverage IT in business? --ANSWER--Using IT
tools and systems strategically to achieve greater business goals. To
maximize the potential of technology to enhance operations, improve
efficiency, and gain a competitive advantage, often by automating
tasks, accessing data insights, and connecting with customers more
effectively.
Page | 2
,What is Supply Chain Management? --ANSWER--A network of
businesses, individuals, organizations, resources, and activities that
are involved in creating and delivering a product or service to a
customer.
How is IT an integral part of Supply Chain Management? --
ANSWER--It coordinates between suppliers and buyers.
How is IT an integral part of the IT supply chain? --ANSWER--IT
system connects between supplier and buyer allowing for real-time
communication and data sharing.
Explain "Just In Time". --ANSWER--A supplier can track buyer's
needs making sure products are produced and delivered when needed,
minimizing inventory cost and maximizing production efficiency.
Define Extranet. --ANSWER--An intranet that can be partially
accessed by authorized outside users.
What is GAAP? --ANSWER--Generally Accepted Accounting
Principles: accounting rules for preparing, presenting, and reporting
Page | 3
, financial statements so an organization and its investors can have a
standard set of reports regarding a business's well-being.
What is the Sarbones-Oxley Act of 2002 (SOX)? --ANSWER--
Mandates certain practices in financial record keeping and reporting
for corporations. Banned company loads to executives and provides
job protection to whistleblowers.
What impact does IT have on SOX? --ANSWER--SOX requires
companies to implement robust IT systems and controls to ensure the
accuracy and integrity of financial records, which means IT plays a
critical role in achieving compliance with SOX regulations by
facilitating the tracking, monitoring, and safeguarding of financial
data across the organization.
How does IT impact Production? --ANSWER--IT helps augment
decision-making when deciding what goods/services to produce, how
to produce them, and the most efficient, cost-effective way to
maximize profits.
What are Goods? --ANSWER--Merchandise or possessions.
Page | 4
