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Intro Business 2 > Definitions - Final Exam - Chptrs 14, 15, 16, 17 > Flashcards

Definitions - Final Exam - Chptrs 14, 15, 16, 17 Flashcards

1
Q

Data

A

raw facts and figures that may or may not be meaningful to a business decision

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2
Q

Information

A

Knowledge gained from processing data

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3
Q

Information System

A

Organized method for collecting, storing and communicating past, present and projected information on internal operations and external intelligence

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4
Q

(CIO) Chief Information Officer

A

Executive responsible for managing a firms information systems and related computer technologies

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5
Q

Computer Based Information Systems

A

Information systems that use computer and related technologies to store information electronically in an organized, accessible manner

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6
Q

Database

A

Centralized integrated collection of data resources

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7
Q

Operational Support Systems

A

Information systems designed to produce a variety of information on an organizations activities for both internal and external users

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8
Q

Transaction processing systems

A

Operational support systems that record and process data from business transactions

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9
Q

Process Control Systems

A

Operational support systems that monitor and control physical processes

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10
Q

Management Support Systems

A

Information systems designed to provide support for decision making

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11
Q

(MIS) Management Information Systems

A

Information systems that produces reports for Managers and other professionals

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12
Q

(DSS) Decision support systems

A

Information systems supporting business-people during decision making process

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13
Q

(ESS) Executive Support Systems

A

Information systems that lets senior executives access to firms primary database, often with a computer or voice recognition

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14
Q

Expert System

A

Computer program that imitates human thinking through complicated sets of “if-then” rules

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15
Q

Hardware

A

Tangible, Physical elements of a computer system

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16
Q

Server

A

Heart of mid-range computer network

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17
Q

Software

A

Programs, routines and languages that control a computer and tell it how to operate

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18
Q

(LANs) Local Area Networks

A

Computer Networks that connect machines within limited access such as buildings or several nearby buildings

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19
Q

(WANs) Wide Area Networks

A

Computer networks that tie larger geographical regions together by using telephone lines and microwave and satellite transmission

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20
Q

WIFI

A

Wireless network that allows multiple devices to connect and communicate with one another through radio waves

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21
Q

Intranet

A

Computer network similar to internet but limits access to authorized users

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22
Q

Firewall

A

Security system for computers that limits data transfers to certain locations. Tracks system use so Managers can identify security threats, including attempts to log on with invalid passwords

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23
Q

(VPNs) Virtual Private Networks

A

Secure connections between two points on the internet

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24
Q

VoIP

A

Alternative communication method that uses the internet to transmit messages as opposed to phone lines

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25
Q

Malware

A

malicious software designed to infect computers

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26
Q

Viruses

A

Malicious software programs that attach themselves to programs (called hosts) and change them or destroy data

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27
Q

Worm

A

Small piece of software that uses a security hole in a network to replicate itself

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28
Q

Botnet

A

Network of PCs that have been infected with onr or more data-stealing viruses

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29
Q

Trojan Horse

A

A program that claims to do one thing but in reality does something else usually malicious in nature

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30
Q

Spyware

A

Software that gathers user information through the users internet connection without his/her knowledge, usually for advertising purposes

31
Q

(ASP) Application Server Provider

A

Outside supplier that provides both the computers and the application support for managing an information systems

32
Q

On-demand computing

A

Use of software time from application providers. Firms pay for the amount of use not for purchasing or maintaining.

33
Q

Cloud Computing

A

Use of powerful servers to store software applications and databases that users access by using internet-connected device, such as PC or smartphone

34
Q

Grid computing

A

Network of smaller computers that run special software

35
Q

Accounting

A

Process of measuring, interpreting and communication financial information to support internal and external business decision making

36
Q

Public Accountant

A

An accountant who provides accounting services to other organizations

37
Q

(GAAP) General accepted accounting principles

A

principles that outline to conventions, rules and procedures for deciding on the acceptable accounting practices at a particular time

38
Q

(AcSB) Accounting Standards Board

A

Organization that interprets and modifies GAAP in Canada for private and not-for-profit businesses

39
Q

(IFRS) International Financial Reporting Standards

A

Standards and Interpretations adopted by the IASB

40
Q

(IASB) International Accounting Standards Board

A

Organizations that promote world wide consistency in financial reporting practices

41
Q

(FASB) Financial Accounting Standards Board

A

Organization that interprets and modifies GAAP in the U.S.

42
Q

Corruption of Foreign Officials Act

A

Federal Law that prohibits Canadian citizens and companies from bribing foreign officials to win or continue business

43
Q

Accounting Cycle

A

Set of activities converting information and individual transactions into financial statements

44
Q

Asset

A

Anything with future benefit owned or controlled by a firm

45
Q

Liability

A

Claim against a firms assets by creditors

46
Q

Owners Equity

A

Funds that owners invest in the business plus profits not paid to owners in the form of cash dividends

47
Q

Accounting Equation

A

relationship that should reflect a firms financial position at any time; assets should always equal the sum of liabilities and owners equity

48
Q

Double-entry Bookkeeping

A

Process used to record accounting transactions; each individual transaction is always balanced by another transaction

49
Q

Balance Sheet

A

Statement of a firms financial position, what it owns and claims against it’s assets - at a particular point in time

50
Q

Income Statement

A

Financial record of a Company’s revenues, expenses and profits over a specific period

51
Q

Statement of changes in equity

A

record of the change in equity from the end of one fiscal period to the next fiscal period

52
Q

Statement of cash flows

A

record of the sources and uses of cash during a period of time

53
Q

Accrual Accounting

A

Accounting method that records revenues and expenses when they occur, not when cash actually changes hands

54
Q

Budget

A

An organizations plans for how it will raise and spend money during a specific period of time

55
Q

Financial System

A

mechanism by which money flows from savers to users

56
Q

Securities

A

Financial instruments representing the obligations of the issuers to provide the purchasers with the expected stated returns invested or loaned

57
Q

Common shares

A

the basic form of corporate ownership

58
Q

Financial Markets

A

Markets where securities are issued and traded

59
Q

Primary Markets

A

Financial markets where firms and governments issue securities and sell them initially to the general public

60
Q

Secondary Market

A

Collection of financial markets where previously issued securities are traded amongst investors

61
Q

Stock Market

A

Market where shares of stock are bought and sold by investors

62
Q

Financial Institutions

A

Intermediaries between savers and borrowers that collect funds from savers then lend the funds to individuals, businesses and governments

63
Q

(CDIC) Canadian Deposit Insurance Corporation

A

Federal agency that insures deposits at commercial and savings banks

64
Q

Bank of Canada (the Bank)

A

The central Bank of Canada

65
Q

Insider Trading

A

Use of material, nonpublic information about a company to make investment profits

66
Q

Finance

A

Business function of planning, obtaining and managing the companies funds to accomplish it’s objectives as efficiently as effectively as possible

67
Q

Financial Managers

A

Executives who develop and carry out their firms financial plan and decide on the most appropriate sources and uses of funds

68
Q

Risk-return tradeoff

A

process of maximizing the wealth of a firms shareholders by striking the right balance between risk and return

69
Q

Capital Structure

A

Mix of a firms debt and equity capital

70
Q

Leverage

A

increasing the rate of return on funds invested by borrowing funds

71
Q

Venture Capitalists

A

Business firms or groups of individuals that invest in new and growing firms in exchange for an ownership share

72
Q

Tender Offer

A

Proposal made by a firm to the target firms shareholders specifying a price and the form of payment

73
Q

LBOs - Leveraged Buyouts

A

Transactions where public shareholders are bought out and the firm reverts to private status

74
Q

Divestiture

A

The sale of assets by the firm

Intro Business 2 (4 decks)

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