Quiz 1

Question 1

3 things Organizations collect data about

Answer 1

Events, Resources, and Agents

Question 2

7 Characteristics of Meaningful Data

Answer 2

Relevant
Reliable
Complete
Timely
Understandable
Verifiable
Accessible

Question 3

3 Main goals of AIS

Answer 3

1. Collect & record data about events, resources & agents
2. Transform data into meaningful information for decision making
3. Provide adequate controls to safeguard a company’s assets & data

Question 4

Primary Activities

Answer 4

provide value to customers

Question 5

Support Activities

Answer 5

allow primary activities to happen seamlessly

Question 6

5 Primary Activities

Answer 6

1. In Bound Logistics: receiving & storing raw materials used in production
2. Operations: transformation of materials & labor into a finished product
3. Out Bound Logistics: distribution of product or service to customer
4. Marketing & Sales
5. Service: post-sale support offered to customers

Question 7

4 Support Activities

Answer 7

1. Firm Infrastructure
2. HR
3. Technology: things to improve the product or service (R&D)
4. Purchasing

Question 8

the value chain is a subsystem of ______

Answer 8

the supply chain

Question 9

Transaction

Answer 9

an event that can be measured in economic terms

Question 10

5 Transaction cycles

Answer 10

1. Revenue Cycle: interactions with customers
   
   • gives good/services to get cash
2. Expenditure Cycle: interactions with suppliers
   
   • give cash to get materials & supplies
3. HR/Payroll Cycle: interactions with employees
   
   • give cash to get labor
4. Financing Cycle: interactions with investors & creditors
   
   • give cash get cash
5. Production Cycle: transform labor.materials into a finished product
   
   • give materials/labor to get finished goods

Question 11

4 steps of data processing cycle

Answer 11

Data input
Data Storage
Data Processing
Information Output

Question 12

3 ways to improve the accuracy of data input

Answer 12

1. Turnaround documents: readmit slip sent w/ check
2. Source Data Automation: ATM
3. Pre-number Source Documents

Question 13

Where is data stored?

Answer 13

In the ledgers!

Question 14

How is data stored in ledgers?

Answer 14

Using coding techniques!

Question 15

2 Coding techniques

Answer 15

1. Sequential Coding: assign consecutive numbers to data items to easily find errors - missing numbers or duplicate numbers (source docs)
2. Block Coding: groups of numbers within a sequence are reserved for a particular category

Question 16

Chart of accounts

Answer 16

lists the general ledger accounts with their account numbers

Question 17

What is put in the general journal?

Answer 17

summaries of transactions - adjusting/closing entries

Question 18

What is put in the special journals?

Answer 18

Nothing special, just repetitive, routine transactions

Question 19

Audit trail

Answer 19

sufficient documentation exists to trace a transactions from beg - end or from end - beg

Question 20

Difference between tracing and vouching?

Answer 20

Tracing: going from source documents to journals/ledgers (completeness)
Vouching: going from journals/ledgers to source documents (existence)

Question 21

Entity - Attribute - Field

Answer 21

Students - Major/GPA - Accounting, 3.9

Question 22

What is a file?

Answer 22

a collection of related records

Question 23

How is a database created?

Answer 23

set of interrelated, centrally coordinated files

Question 24

4 Common Processing Operations

Answer 24

1. Creating: adding a new item to database
2. Reading: retrieving & viewing data
3. Updating: adding new transactions to the database
4. Deleting: removing data from database

Question 25

Information Output

Answer 25

Basic report, Document, Queries

Question 26

2 Forms of Documentation

Answer 26

1. Flow Chart: analytical technique that describes information using a set of standard symbols 2. Data Flow Diagram (DFD): graphical representation of the sources and destinations of data

Question 27

4 Basic Elements of a DFD

Answer 27

1. Data sources & destinations: SQUARES 2. Data flows: ARROWS (must be labeled) 3. Transformation Processes: CIRCLES 4. Data Store: EQUAL SIGN (file, journal, ledger)

Question 28

File Based Approach

Answer 28

create a file every time an information need arose - resulted in the same data being stored multiple times - made data sharing difficult

Question 29

Database Approach

Answer 29

set of interrelated, centrally coordinated files

Question 30

Database Management System (DBMS)

Answer 30

acts as an interfase between the database & the application programs that access the database

Question 31

Advantages of a DBMS

Answer 31

1. Minimizes data redundancies / inconsistencies 2. Allows for data sharing 3. Allows for data integration 4. Allows for data independence (kept separate from application programs) 5. Separates logical view from physical view logical: how users see & understand the data physical: describes where & how data is stored

Question 32

Schema

Answer 32

logical structure of a database | - describes data elements stored in the database, the relationship among those elements, and where the data is stored

Question 33

3 Levels of Schema

Answer 33

1. Conceptual: organization wide view of the contents of the relationships among the data elements 2. External level schema: set of individual user views of portions of the database (logical views) each individual logical view is called a subschema 3. Internal level schema: describes how and where the data are arranged and stored

Question 34

Any DBMS must allow for the following 3 tasks to occur

Answer 34

1. Create the database 2. Update the database 3. Query the database

Question 35

DBMS languages

Answer 35

set of commands that allow for three tasks to occur

Question 36

3 DBMS languages

Answer 36

1. Data Definition language: create database (security restrictions & create logical view) 2. Data Manipulation language: set of commands used to update, add, & delete data from the database 3. Data Query language: set of commands used to extract data from the database

Question 37

Relational Database

Answer 37

represent content of DB as being stored in the form of tables (relations)

Question 38

Data Model

Answer 38

abstract representation of the contents of the database

Question 39

tuple

Answer 39

each row in the table stores data bout one instance of the entity

Question 40

column

Answer 40

stores data about a specific attribute

Question 41

Primary Key

Answer 41

attribute of combination of attributes that uniquely identify each row in the table

Question 42

Foreign Key

Answer 42

attribute of one table that serves as the primary key in another table - intent to link the two tables together

Question 43

4 Basic Requirements for building relational tables

Answer 43

1. Every cell must be single-valued 2. Every table must have a primary key (entity integrity) 3. If a table has a foreign key, it should correspond to the primary key of another table (Referential Integrity Rule) 4. All non-key attributes should describe a characteristic of the primary key