Transaction Processing

Question 1

A business transaction occurs and is captured on a ___ ___.

Answer 1

source document

Question 2

___ ___ are computerized data files equivalent to the journals found in a manual accounting system.

Answer 2

transaction files

Question 3

___ ___ are ledgers classify transactions by alternative accounts (e.g., customer accounts, vendor accounts, product accounts).

Answer 3

subsidiary ledgers (sub-ledgers)

Question 4

___, ___-___ (___) ___ is a continuous, immediate transaction processing method in which transactions are processed individually as they occur.

Answer 4

online, real-time (OLRT) processing

Question 5

The ___ ___-___ is the ledger stores the costs and quantities of the each item in inventory.

Answer 5

inventory sub-ledger

Question 6

___ ___ ___ systems combine on-line, real-time processing with automated data capture technology, resulting in a system that is highly accurate, reliable, and timely.

Answer 6

point-of-sale (POS)

Question 7

Computerized data files equivalent to the ledgers found in manual accounting system are called ___ ___.

Answer 7

master files

Question 8

The ____ ____ ___-____ is the ledger that classifies A/R transactions (credit sales and customer payments) by Customer.

Answer 8

Accounts Receivable (A/R) sub-ledger

Question 9

A ___ ___ is an inherent part of batch processing. There is always a time delay between the time the transaction occurs, the time that the transaction is recorded, and the time that the master file is updated.

Answer 9

time lag

Question 10

The ___ ___ is the collection of the organization’s accounts.

Answer 10

general ledger

Question 11

___ ___ is the periodic transaction processing method in which transactions are processed in groups.

Answer 11

batch processing

Question 12

Master files are considered to be ___ files.

Answer 12

permanent

Question 13

Just-in-time inventory management is facilitated by the use of ___ ___ ___ (___) systems.

Answer 13

Point-of-Sale (POS)

Question 14

In a computerized accounting system, the information found in the ___ ___ is similar to the information found in the subsidiary ledgers of a manual system.

Answer 14

master files

Question 15

___ ___ ___ ___ is characterized by (1) the processing of one transaction at a time; 2) use of random processing technology, and (3) processing of transactions immediately (as they occur).

Answer 15

Online real-time processing

Question 16

The potential for systemic errors is ___ in a computerized environment.

Answer 16

increased

Question 17

___ ___ systems are so named because rather than maintaining a centralized or master database at a central location, the database is distributed across the locations according to their needs.

Answer 17

Distributed data

Question 18

___ ___ maintain all data and perform all data processing at a central location; remote users may access the centralized data files via a telecommunications channel, but all of the processing is still performed at the central location.

Answer 18

centralized systems