Download BUS 120B Exam 1 Questions and Answers and more Exams Entrepreneurship in PDF only on Docsity!
Enterprise System - correct answer ✅integrate business processes and information from all of an organization's functional areas Internal Control - correct answer ✅A process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the reliability of financial reporting, the effectiveness and efficiency of operations, and compliance with applicable laws and regulations. Section 404 of SOX - correct answer ✅Management identifies documents & evaluate significant internal controls. Auditors must report on effectiveness of internal system Section 409 of SOX - correct answer ✅Requires disclosure to the public on a "rapid and current" basis of material changes in an organization's financial condition.
Technology - correct answer ✅ability to plan & manage business operations depend partly on knowledge of the technology available. Database - correct answer ✅Full accounting cycle, includes data collection & storage Reporting - correct answer ✅To design reports generated by an information system, the accountant must know what outputs are required or are desirable. Business Operations - correct answer ✅Organizations engage in activities or operations, such as hiring employees, purchasing inventory, and collecting cash from customers. Event Processing - correct answer ✅As organizations undertake their business operations events such as sales & purchases occur
accomplish specific objectives. A system must have an organization, interrelationship, integration, & central objectives. Subsystems - correct answer ✅Within limits, any subsystems can be further divided into its components parts or subsystems AIS - correct answer ✅A specialized subsystem of the IS that collects, processes, and reports information related to the financial aspects of business events. MIS - correct answer ✅Man made system that generally consist of an integrated set of computers based & manual components established to collect, store, and manage data & to provide output information to users. Operation Process - correct answer ✅A system consisting of the people, equipment, organization, policies, and procedures whose objective is to accomplish the work of the organization.
Management Process - correct answer ✅a system consisting of the people, authority, organization, policies, and procedures whose objective is to plan and control the operations of the organization information - correct answer ✅Data presented in a form that is useful in a decision making activity. Reduces uncertainty & increases knowledge about area of concern Data - correct answer ✅Facts & figures in raw form. Represents the measurement of observation of objects & events. Understandability - correct answer ✅Enables users to perceive significance and permits application by the user in a decision-making situation. Relevance - correct answer ✅Capable of making a difference in a decision- making situation by reducing uncertainty or increasing knowledge.
Accuracy - correct answer ✅Correspondence/agreement between the information & actual events or objects it represents Completeness - correct answer ✅degree to which information includes data about every relevant object or event necessary to make a decision and includes that information only once intelligence - correct answer ✅Searching the environment for conditions calling for a decision Design - correct answer ✅Inventing, developing, & analyzing possible course of action. Choice - correct answer ✅selecting a course of action
Horizontal information flow - correct answer ✅Specific business events such as one shipment or to individual inventory items. Vertical Information Flow - correct answer ✅service a multi-level management function from operations and transaction processing through tactical, operations, and strategic management. Structured Decisions - correct answer ✅Those for which all three decision phases (intelligence, design, and choice) are relatively routine or repetitive. Some decisions are so routine that a computer can be programmed to make them. Unstructured Data - correct answer ✅Those for which none of decision is repetitive / routine
