Chapter 1- Overview

Question 0

What is information?

Answer 0

When data becomes meaningful

Ex: like putting data into a sales invoice

Question 1

What is Data

Answer 1

Facts stores in the system

Ex: number date name etc

Question 2

What makes information useful 1-4

Answer 2

Relevant
Reliable
Complete
Timely

Question 3

What makes information useful 5-7

Answer 3

Understandable
Verifiable
Accessible

Question 4

What is an internal stakeholder

Answer 4

Stakeholders are employees in the organization ex: employees and managers

Question 5

What is an external stakeholder

Answer 5

Trading partners like banks and governmenent or customers and vendors

Question 6

What are the basic business processes?

Answer 6

Revenue
Expenditure
Production
Payroll
Financing

Question 7

Explain revenue

Answer 7

Give good or service = GET CASH ha

Question 8

Explain expenditure

Answer 8

Get goods/service =GIVE CASH

Question 9

Explain production

Answer 9

Give labor/materials = FINISHED GOODS

Question 10

Explain payroll

Answer 10

Give cash

Get labor

Question 11

Explain financing

Answer 11

Give cash

Get cash

Question 12

How does AIS add value

Answer 12

Having effective decisions /quality

Having efficient decisions/ reducing costs of decision making

Question 13

What is value chain?

Answer 13

Shows how the different activities within an organization provide value to the customer

Question 14

What are Primary activities

Answer 14

Provide direct value to the customer

Question 15

What is a support activity?

Answer 15

Enable primary activities to be efficient and effective

Question 16

Examples of support activities?

Answer 16

Firm infrastructure
Human resources
Technology
Purchasing

Question 17

What are the primary activities?

Answer 17

Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service