WGU C201 BUSINESS ACUMEN | Exam
Review with Questions and Answers |
Question and Answer | Grade A+
• Transaction Processing System -✓✓A system that should be accessed by the vice
president of sales for a national department store chain who wants to see the previous
day's sales receipts.
• Virtual Private Network (VPN) -✓✓A technology that enables employers to work
remotely with secure connectivity to the corporate network via the internet.
• Cloud Computing Services -✓✓Services that enhance company productivity through
better resource utilization, elimination of application downtime, and dedication of
resources to each user.
• Ethical Expectation of Privacy -✓✓The expectation that employees have privacy from
company monitoring for personal letters sent through the company mail room.
• Data Mining Ethical Issues -✓✓Selling customer data for external marketing research
raises ethical issues heightened by the capabilities of data mining.
• Spyware Intent -✓✓The intent to report on a user's internet activity creates a company
security issue.
• Departmentalization -✓✓A company might divide itself into smaller groups that best
match the types of customers it services.
• Total Productivity -✓✓Output (goods or services) divided by input (human, natural
resources, capital).
• Liquidity Ratio -✓✓Current assets divided by current liabilities.
• Acid Test -✓✓Current assets minus inventory divided by current liabilities.
• Inventory Turnover -✓✓Cost of goods sold divided by average inventory (average of
2013 + 2014).
• Receivables Turnover -✓✓Credit sales divided by average account receivables
(average of 2013 + 2014).
• Total Assets Turnover -✓✓Sales divided by average total assets.
,• Liquidity Ratios -✓✓Ratios that measure the firm's abilities to meet its short-term
obligations, including the liquidity ratio and acid test.
• Activity Ratios -✓✓Measure management's use of the firm's resources and include all
turnover ratios.
• Profitability Ratios -✓✓Gross profit, net profit, and return on equity.
• Gross Profit Margin -✓✓Gross profit / sales.
• Net Profit Margin -✓✓Net income / sales.
• Return on Equity -✓✓Net income / average equity.
• Leverage Ratios -✓✓Measure the extent to which a firm relies on debt financing and
includes debt ratio and long-term debt to equity.
• Debt Ratio -✓✓Total liabilities / total assets.
• Long-term Debt to Equity -✓✓Long-term debt / owner's equity.
• Management Support Systems -✓✓Used for decisions.
• Operational Support Systems -✓✓Information systems for activities fall under this
support system.
• Process Control System -✓✓One of the two information systems that are operational
support systems.
• Transaction Process System -✓✓One of the two information systems that are
operational support systems.
• Decision Support System (DSS) -✓✓Belongs to management support systems.
• Ethical vs Legal -✓✓No, they are not the same thing.
• Local Area Network (LAN) -✓✓When two or more users connect using Ethernet or
WiFi to the same server to share printers or other information.
• Advantages of WiFi -✓✓Mobility, expansion of LAN.
• Integrated Marketing Communications -✓✓The coordination of all promotional
activities to produce a unified, customer-focused message.
,• Persuasive Advertising -✓✓Used in the growth and maturity stage of the product life
cycle to improve competitive status of a product.
• Comparative Advertising -✓✓Compares products directly with their competitors either
by name or by inference.
• Reminder-oriented Advertising -✓✓Advertising to maintain awareness of the
importance and usefulness of a product.
• Pulling Strategy -✓✓Potential buyers will request that their suppliers-retailers or local
distributors carry the products thereby pulling it through the distribution channel.
• Pushing Strategy -✓✓Companies promote the product to members of the marketing
channel, not to end users.
• Competitive Pricing -✓✓Concentrating marketing efforts on the product (features,
quality, value), distribution, and promotional elements of the marketing mix.
• Three Different Product Types -✓✓Specialty, shopping, convenience.
• Specialty Products -✓✓Purchased most infrequently.
• Four Stages of the Product Life Cycle -✓✓Introductory, growth, maturity, decline.
• Maturity Stage Focus -✓✓Requires focusing on attracting the competitors' customers.
• Brand Loyalty Advantage -✓✓Provides competitive advantage.
• Highest Form of Brand Loyalty -✓✓Insistence.
• Brand Preference vs Brand Recognition -✓✓True, brand preference is a higher form of
loyalty than brand recognition.
• Brand Awareness -✓✓A brand is recognized by potential customers, and is correctly
associated with a particular product.
• Brand Association -✓✓Connect the brand to a positive image (GE to eco-friendly).
• marketing intermediaries -✓✓retailer and broker
• wholesaler -✓✓using what can make a price cheaper to a consumer
• marketing intermediaries -✓✓what adds value to a product
, • strategic marketing strategy -✓✓achieve organizational goals
• non-traditional marketing technique -✓✓team
• non-traditional marketing technique for real-estate agent -✓✓people
• 4 P's -✓✓product, place, promotion, price make up marketing mix
• personal determinants influencing consumer behavior -✓✓learned experience,
perception, self-concept
• market segmentations in B2B and B2C -✓✓demographic and geographic
• psychographic segmentation -✓✓targeting consumer markets based on lifestyle
• comparative advantage -✓✓the advantage of being able to offer a product at a much
lower price than a competitor
• B2B relationship marketing -✓✓easier to create with new businesses
• mass production -✓✓which type of production carries the highest inventory
• customer driven production -✓✓which type of productions has little to no finished
inventory
• flexible production -✓✓which type of production utilizes the most information
technology (automation)
• mass production -✓✓which type of production requires the highest level of skilled
workers
• computer aided manufacturing advantages -✓✓accuracy, faster
• lights out facility -✓✓a facility that can utilize computer-integrated manufacturing to
produce a product from start to finish
• MRP -✓✓the computer based planning system used by production managers to
ensure parts and materials are on hand
• fixed-position layout -✓✓a process layout where all of the materials must be brought to
the product being manufactured
• product layout -✓✓this type of process layout is used when we have an assembly line
Review with Questions and Answers |
Question and Answer | Grade A+
• Transaction Processing System -✓✓A system that should be accessed by the vice
president of sales for a national department store chain who wants to see the previous
day's sales receipts.
• Virtual Private Network (VPN) -✓✓A technology that enables employers to work
remotely with secure connectivity to the corporate network via the internet.
• Cloud Computing Services -✓✓Services that enhance company productivity through
better resource utilization, elimination of application downtime, and dedication of
resources to each user.
• Ethical Expectation of Privacy -✓✓The expectation that employees have privacy from
company monitoring for personal letters sent through the company mail room.
• Data Mining Ethical Issues -✓✓Selling customer data for external marketing research
raises ethical issues heightened by the capabilities of data mining.
• Spyware Intent -✓✓The intent to report on a user's internet activity creates a company
security issue.
• Departmentalization -✓✓A company might divide itself into smaller groups that best
match the types of customers it services.
• Total Productivity -✓✓Output (goods or services) divided by input (human, natural
resources, capital).
• Liquidity Ratio -✓✓Current assets divided by current liabilities.
• Acid Test -✓✓Current assets minus inventory divided by current liabilities.
• Inventory Turnover -✓✓Cost of goods sold divided by average inventory (average of
2013 + 2014).
• Receivables Turnover -✓✓Credit sales divided by average account receivables
(average of 2013 + 2014).
• Total Assets Turnover -✓✓Sales divided by average total assets.
,• Liquidity Ratios -✓✓Ratios that measure the firm's abilities to meet its short-term
obligations, including the liquidity ratio and acid test.
• Activity Ratios -✓✓Measure management's use of the firm's resources and include all
turnover ratios.
• Profitability Ratios -✓✓Gross profit, net profit, and return on equity.
• Gross Profit Margin -✓✓Gross profit / sales.
• Net Profit Margin -✓✓Net income / sales.
• Return on Equity -✓✓Net income / average equity.
• Leverage Ratios -✓✓Measure the extent to which a firm relies on debt financing and
includes debt ratio and long-term debt to equity.
• Debt Ratio -✓✓Total liabilities / total assets.
• Long-term Debt to Equity -✓✓Long-term debt / owner's equity.
• Management Support Systems -✓✓Used for decisions.
• Operational Support Systems -✓✓Information systems for activities fall under this
support system.
• Process Control System -✓✓One of the two information systems that are operational
support systems.
• Transaction Process System -✓✓One of the two information systems that are
operational support systems.
• Decision Support System (DSS) -✓✓Belongs to management support systems.
• Ethical vs Legal -✓✓No, they are not the same thing.
• Local Area Network (LAN) -✓✓When two or more users connect using Ethernet or
WiFi to the same server to share printers or other information.
• Advantages of WiFi -✓✓Mobility, expansion of LAN.
• Integrated Marketing Communications -✓✓The coordination of all promotional
activities to produce a unified, customer-focused message.
,• Persuasive Advertising -✓✓Used in the growth and maturity stage of the product life
cycle to improve competitive status of a product.
• Comparative Advertising -✓✓Compares products directly with their competitors either
by name or by inference.
• Reminder-oriented Advertising -✓✓Advertising to maintain awareness of the
importance and usefulness of a product.
• Pulling Strategy -✓✓Potential buyers will request that their suppliers-retailers or local
distributors carry the products thereby pulling it through the distribution channel.
• Pushing Strategy -✓✓Companies promote the product to members of the marketing
channel, not to end users.
• Competitive Pricing -✓✓Concentrating marketing efforts on the product (features,
quality, value), distribution, and promotional elements of the marketing mix.
• Three Different Product Types -✓✓Specialty, shopping, convenience.
• Specialty Products -✓✓Purchased most infrequently.
• Four Stages of the Product Life Cycle -✓✓Introductory, growth, maturity, decline.
• Maturity Stage Focus -✓✓Requires focusing on attracting the competitors' customers.
• Brand Loyalty Advantage -✓✓Provides competitive advantage.
• Highest Form of Brand Loyalty -✓✓Insistence.
• Brand Preference vs Brand Recognition -✓✓True, brand preference is a higher form of
loyalty than brand recognition.
• Brand Awareness -✓✓A brand is recognized by potential customers, and is correctly
associated with a particular product.
• Brand Association -✓✓Connect the brand to a positive image (GE to eco-friendly).
• marketing intermediaries -✓✓retailer and broker
• wholesaler -✓✓using what can make a price cheaper to a consumer
• marketing intermediaries -✓✓what adds value to a product
, • strategic marketing strategy -✓✓achieve organizational goals
• non-traditional marketing technique -✓✓team
• non-traditional marketing technique for real-estate agent -✓✓people
• 4 P's -✓✓product, place, promotion, price make up marketing mix
• personal determinants influencing consumer behavior -✓✓learned experience,
perception, self-concept
• market segmentations in B2B and B2C -✓✓demographic and geographic
• psychographic segmentation -✓✓targeting consumer markets based on lifestyle
• comparative advantage -✓✓the advantage of being able to offer a product at a much
lower price than a competitor
• B2B relationship marketing -✓✓easier to create with new businesses
• mass production -✓✓which type of production carries the highest inventory
• customer driven production -✓✓which type of productions has little to no finished
inventory
• flexible production -✓✓which type of production utilizes the most information
technology (automation)
• mass production -✓✓which type of production requires the highest level of skilled
workers
• computer aided manufacturing advantages -✓✓accuracy, faster
• lights out facility -✓✓a facility that can utilize computer-integrated manufacturing to
produce a product from start to finish
• MRP -✓✓the computer based planning system used by production managers to
ensure parts and materials are on hand
• fixed-position layout -✓✓a process layout where all of the materials must be brought to
the product being manufactured
• product layout -✓✓this type of process layout is used when we have an assembly line
