ACG 4401 UCF Exam 1 with all Correct & 100% Verified
Answers |Latest Version |Already Graded A+
System ✔Correct Answer-a set of two or more interrelated components that interact to
achieve a goal
Goal Conflict ✔Correct Answer-occurs when a subsystem is inconsistent with the goals of
another subsystem or with the system as a whole
Goal Congruence ✔Correct Answer-occurs when a subsystem achieves its goals while
contributing to the organization's overall goal
Data ✔Correct Answer-facts that are collected, recorded, stored, and processed by an
information system
Information ✔Correct Answer-data that have been organized and processed to provide
meaning and improve the decision-making process
Information Overload ✔Correct Answer-when the amount of information a human mind can
absorb and process is exceeded. Results in a decline in decision making quality and an increase
in costs
Information Technology (IT) ✔Correct Answer-Used to help decision makers more effectively
filter and condense information
Value of Information ✔Correct Answer-the benefit produced by the information minus the
cost of producing it
Business Process ✔Correct Answer-a set of related, coordinated, and structured activities and
tasks that are performed by a person or by a computer or a machine, and that help accomplish
a specific organizational goal
Transaction ✔Correct Answer-an agreement between two entities to exchange goods or
services or any other event that can be measured in economic terms by an organization.
Transaction Processing ✔Correct Answer-The process that begins with capturing transaction
data and ends with informational output, such as the financial statements
Business Processes or Transaction Cycles ✔Correct Answer-Revenue Cycle, Expenditure Cycle
Production Cycle, Human Resources/Payroll cycle, Financing Cycle
, Revenue Cycle ✔Correct Answer-goods and services are sold for cash or a future promise to
receive cash
Expenditure Cycle ✔Correct Answer-companies purchase inventory for resale or raw
materials to use in producing products in exchange for cash or a future promise to pay
Production or Conversion Cycle ✔Correct Answer-raw materials are transformed into finished
goods
Human Resources or Payroll Cycle ✔Correct Answer-employees are hired, trained,
compensated, evaluated, promoted, and terminated
General Ledger and Reporting System ✔Correct Answer-All Business Processes output data
here, used to generate information for both internal and external parties
Accounting Information System (AIS) ✔Correct Answer-the information providing vehicle
(intelligence) of the accounting language
predictive analysis ✔Correct Answer-uses data warehouses and complex algorithms to
forecast future events, based on historical trends and calculated probabilities
Value Chain ✔Correct Answer-the activities an organization performs to provide value to
customers
Primary Activities of the Value Chain ✔Correct Answer-Inbound Logistics, Operations,
Outbound logistics, Marketing and Sales, Service
Support Activities of the Value Chain ✔Correct Answer-Firm Infrastructure, Human Resources,
Technology, Purchasing
Supply Chain ✔Correct Answer-Contains the Value Chain, Includes Raw Material Supplier,
Manufacturer, Distributor, Retailer, and Consumer
Give-Get Exchange ✔Correct Answer-business activities that are pairs of events, most
organizations perform a small number of these many times
Financing Cycle ✔Correct Answer-where companies sell shares in the company to investors
and borrow money and where investors are paid dividends and interest is paid on loans
Data Processing Cycle ✔Correct Answer-operations performed on data to generate
meaningful and relevant information.
Data Processing Cycle Steps ✔Correct Answer-Data Input, Data Processing, Data Storage,
Information Output
Answers |Latest Version |Already Graded A+
System ✔Correct Answer-a set of two or more interrelated components that interact to
achieve a goal
Goal Conflict ✔Correct Answer-occurs when a subsystem is inconsistent with the goals of
another subsystem or with the system as a whole
Goal Congruence ✔Correct Answer-occurs when a subsystem achieves its goals while
contributing to the organization's overall goal
Data ✔Correct Answer-facts that are collected, recorded, stored, and processed by an
information system
Information ✔Correct Answer-data that have been organized and processed to provide
meaning and improve the decision-making process
Information Overload ✔Correct Answer-when the amount of information a human mind can
absorb and process is exceeded. Results in a decline in decision making quality and an increase
in costs
Information Technology (IT) ✔Correct Answer-Used to help decision makers more effectively
filter and condense information
Value of Information ✔Correct Answer-the benefit produced by the information minus the
cost of producing it
Business Process ✔Correct Answer-a set of related, coordinated, and structured activities and
tasks that are performed by a person or by a computer or a machine, and that help accomplish
a specific organizational goal
Transaction ✔Correct Answer-an agreement between two entities to exchange goods or
services or any other event that can be measured in economic terms by an organization.
Transaction Processing ✔Correct Answer-The process that begins with capturing transaction
data and ends with informational output, such as the financial statements
Business Processes or Transaction Cycles ✔Correct Answer-Revenue Cycle, Expenditure Cycle
Production Cycle, Human Resources/Payroll cycle, Financing Cycle
, Revenue Cycle ✔Correct Answer-goods and services are sold for cash or a future promise to
receive cash
Expenditure Cycle ✔Correct Answer-companies purchase inventory for resale or raw
materials to use in producing products in exchange for cash or a future promise to pay
Production or Conversion Cycle ✔Correct Answer-raw materials are transformed into finished
goods
Human Resources or Payroll Cycle ✔Correct Answer-employees are hired, trained,
compensated, evaluated, promoted, and terminated
General Ledger and Reporting System ✔Correct Answer-All Business Processes output data
here, used to generate information for both internal and external parties
Accounting Information System (AIS) ✔Correct Answer-the information providing vehicle
(intelligence) of the accounting language
predictive analysis ✔Correct Answer-uses data warehouses and complex algorithms to
forecast future events, based on historical trends and calculated probabilities
Value Chain ✔Correct Answer-the activities an organization performs to provide value to
customers
Primary Activities of the Value Chain ✔Correct Answer-Inbound Logistics, Operations,
Outbound logistics, Marketing and Sales, Service
Support Activities of the Value Chain ✔Correct Answer-Firm Infrastructure, Human Resources,
Technology, Purchasing
Supply Chain ✔Correct Answer-Contains the Value Chain, Includes Raw Material Supplier,
Manufacturer, Distributor, Retailer, and Consumer
Give-Get Exchange ✔Correct Answer-business activities that are pairs of events, most
organizations perform a small number of these many times
Financing Cycle ✔Correct Answer-where companies sell shares in the company to investors
and borrow money and where investors are paid dividends and interest is paid on loans
Data Processing Cycle ✔Correct Answer-operations performed on data to generate
meaningful and relevant information.
Data Processing Cycle Steps ✔Correct Answer-Data Input, Data Processing, Data Storage,
Information Output
