LESSON 1

Question 1

is a precribed sequence of work steps performed in order to produce a desired result for the organization

Answer 1

BUSINESS PROCESS

Question 2

FOUR GENERAL TYPE OF BUSINESS PROCESS

Answer 2

REVENUE PROCESS
EXPENDITURE PROCESS
CONVERSON PROCESS
ADMINISTRATIVE PROCESS

Question 3

SET OF PROCEDURES AND POLICIES ADOPTED WITHIN AN ORGANIZATION TO SAFEGUARD ASSET, CHECK THE ACCURANCY, PROMOTE OPERATIONAL EFFIECIENCY AND ENCOURAGE ADHERENCE TO PRESCRIBED MANAGERAIL PRACTICES

Answer 3

INTERNAL CONTROLS

Question 4

COMPRISESS THE PROCESSES, PROCEDURES, AND SYSTEMS THAT CAPTURE ACCOUNTING DATA FROM BUSINESS PROCESSES; RECORD ACCOUNTING DATA; PROCES THE DETAILED ACCOUTING DATA BY CLASSIFYING SUMMARIZING AND CONSILIDATING; REPORT ACCOUTING DATA TO INTERNAL AND EXTERNAL USERS

Answer 4

ACCOUTING INFORMATION SYSTEM

Question 5

RECORDING SALES AND CASH TRANSACTION

Answer 5

CAPTURING DATA

Question 6

STORING DATA IN THE SYSTEM

Answer 6

RECORDING DATA

Question 7

SUMMARIZING AND CLASSIFYING TRANSACTION

Answer 7

PROCESSING DATA

Question 8

CREATING INTERNAL REPORTS FOR MANAGERS AND EXTERNAL FINANCIAL STATEMENT

Answer 8

GENERATING REPORTS

Question 9

ENSURING ACCURANCY AND PREVENTING ERROR OR FRAUD

Answer 9

INTERNAL REPORT

Question 10

IS THE ENTITITES PROCESSES AND INFORMATION FLOWS THAT INVOLVE THE MOVEMENT OF MATERIAL, FUNS AND RELATED INFORMATION THROUGH THE FULL LOGITIC PROCESS, FROM THE ACQUISITION OF RAW MATERIAL TO THE DELIVERY OF FINISH GOODS TO THE END USER

Answer 10

SUPPLY CHAIN

Question 11

USING INFORMATION TECHNOLOGY TO MAKE BUSINESS PROCESSES FASTER, MORE ACCURATE AND LES EXPENSIVE

Answer 11

IT ENABLEMENT

Question 12

REDEIGNING PROCESSES TO TAKE ADVANTAGE OF NEW TECHNOLOGY

Answer 12

BUSINESS PROCESS REENGINEERING

Question 13

THE SMALLER UNIT OF DATA 0 OR 1

Answer 13

BIT

Question 14

A GROUP OF BITS THAT REPRESENTS A CHARACTER (A)

Answer 14

BYTE

Question 15

A SINGLE PIECE OF DATA (COTUMER NAME)

Answer 15

FIELD

Question 16

A COLLECTION OF RELATED FIELDS (COSTUMER NAME, ADRESS, CONTACT NUMBER)

Answer 16

RECORD

Question 17

A COLLECTION OF RECORDS (***** OF ALL COSTUMER RECORD)

Answer 17

FILE

Question 18

A COLLECTION OF FILES

Answer 18

DATABASE

Question 19

READING DATA IN ORDER (reading employee record one by one)

Answer 19

SEQUENTIAL ACCESS

Question 20

DIRECTLY ACCESSING A SPECIFIC RECORD (FINDING EMPLOYEE RECORD BY THEIR ID NUMBER)

Answer 20

RANDOM ACCESS

Question 21

PROCESSING GROUP OF TRANSACTIO AT ONCE (PAYROLL FOR ALL EMPLOYEE)

Answer 21

BATCH PROCESSING

Question 22

PROCESSING TRANSACTION IMMEDIATELY (PROCESS SALE AS IT HAPPEN)

Answer 22

REALTIME PROCESSING

Question 23

is an integrated collection of enterprise-wide data that generally includes several years of nonvolatile data, used to support management in decision making and planning.

Answer 23

DATA WAREHOUSE

Question 24

contains the
data that is continually updated as
transactions are processed.

Answer 24

OPERATIONAL DATABASE

Question 25

is the process of searching data within the data warehouse for identifiable patterns that can be used to predict future behavior.

Answer 25

DATA MINING

Question 26

easily fits into rows and columns. These columns usually are fields of fixed length.

Answer 26

STRUCTURED DATA

Question 27

does not easily fit into rows and columns of fixed length

Answer 27

UNSRUCTURED DATA

Question 28

is known as high-volume, high-speed information that maybe so large and diverse that it demands innovative forms of IT processing. It is generally considered too large in size and scope to be analyzed with traditional database tools

Answer 28

BIG DATA

Question 29

: Using the internet to conduct business (e.g., Amazon.com selling products online).

Answer 29

E BUSINESS

Question 30

Exchanging business documents (e.g., purchase orders, invoices) electronically between companies.

Answer 30

ELECTORNIC DATA INTERCHANGE

Question 31

Scanning barcodes at checkout to record sales and update inventory in real time.

Answer 31

POINT OF SALE SYSTEM

Question 32

Using software to match purchase orders, receiving reports, and invoices automatically (e.g., Ford’s system).

Answer 32

AUTOMATED MATCHING

Question 33

Integrating all business processes (e.g., finance, sales, inventory) into one system (e.g., Microsoft Dynamics GP).

Answer 33

ENTERPRISE RESOUCE PLANNING

Question 34

is an invoice-less system in which computer hardware and software complete an invoice!less match comparing the purchase order with the goods received.

Answer 34

EVALUATED RECEIPT SETTLEMENT

Question 35

are both terms that refer to Web!enabled receipt and payment of vendor invoices. EIPP enables a vendor to present an invoice to its trading partner via the Internet, eliminating the paper, printing, and postage costs of traditional paper invoicing

Answer 35

E PAYABLE

Question 36

are rules and procedures that help protect a company’s assets, ensure accurate financial records, and prevent fraud. These controls are essential for managing risks.

Answer 36

INTERNAL CONTROL

Question 37

is defined as a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives

Answer 37

ENTERPRISE RISK MANAGEMENT

Question 38

Protecting against data breaches and system failure

Answer 38

IT CONTROL

Question 39

apply overall to the IT accounting system; they are not restricted to any particular accounting application

Answer 39

GENERAL CONTROLS

Question 40

are used specifically in accounting applications to control inputs, processing, and output.

Answer 40

APPLICABLE CONTROL

Question 41

accountants would characterize corporate governance as an elaborate system of checks and balances whereby a company’s leadership is held accountable for building shareholder value and creating confiDence in the financial reporting processes

Answer 41

CORPORATE GOVERNANCE

Question 42

The proper management, control, and use of IT systems are known as

Answer 42

IT GOVERNANCE

Question 43

is important in accounting because the AIS can be misused to commit or hide unethical or fraudulent behavior. Accountants must understand these risks and design controls to prevent them.

Answer 43

ETHICS

Question 44

Manipulating financial statements to make the company look better

Answer 44

FRAUDULENT FINANCIAL REPORTING

Question 45

Falsifying expenses to get reimbursed for personal costs.

Answer 45

EXPENSE ACCOUNT FRAUD

Question 46

Breaking into the AIS to steal or alter data

Answer 46

HACKING

Question 47

Overstating sales or income to appear more profitable.

Answer 47

REVENUE INFLATION

Question 48

: Reporting more work hours than actually worked to receive extra pay.

Answer 48

INFLATNG HOURS WORKED FOR PAYROLL PURPOSES

Question 49

Using technology to commit illegal activities like data theft or financial manipulation

Answer 49

COMPUTER FRAUD

Question 50

Unauthorized access to sensitive information without a legitimate need.

Answer 50

BROWSING CONFIDENTIAL DATA