AIS FINAL EXAM QUESTIONS WITH
VERIFIED ANSWERS { GUARANTEED
A+}
System - ✔✔two or more interrelated components that interact to achieve a goal,
often composed of subsystems that support the larger system
goal conflict - ✔✔when a subsystem's goals are inconsistent with the goals of
another subsystem or the system as a whole
goal congruence - ✔✔when a subsystem achieves its goals while contributing to
the organization's overall goal
Data - ✔✔facts that are collected, recorded, stored, and processed by an
information system
information - ✔✔data that have been organized and processed to provide meaning
and improve decision making
,machine-readable - ✔✔data in a format that can be processed by a computer
information overload - ✔✔exceeding the amount of information a human mind
can absorb and process, resulting in a decline in decision-making quality and an
increase in the cost of providing information
Information Technology (IT) - ✔✔the computers and other electronic devices
used to store, retrieve, transmit and manipulate data
value of information - ✔✔the benefit provided by information less the cost of
producing it
Information System - ✔✔the people and technologies in an organization that
produce information
Business Process - ✔✔a set of related, coordinated, and structured activities and
tasks, performed by a person, a computer, or a machine, that help accomplish a
specific organizational goal
transaction - ✔✔an agreement between two entities to exchange goods or
services, such as selling inventory in exchange for cash; any other event that can be
measured in economic terms by an organization
,Transaction Processing - ✔✔Process of capturing transaction data, processing it,
storing it for later use, and producing information output, such as a managerial
report or a financial statement.
give-get exchange - ✔✔transactions that happen a great many times, such as
giving up cash to get inventory from a supplier and giving employees a paycheck
in exchange for their labor
business processes, transaction cycles - ✔✔the major give-get exchanges that
occur frequently in most companies
Revenue Cycle - ✔✔activities associated with selling goods and services in
exchange for cash or a future promise to receive cash
Expenditure Cycle - ✔✔activities associated with purchasing inventory for resale
or raw materials in exchange for cash or a future promise to pay cash
production cycle, conversion cycle - ✔✔activities associated with using labor,
raw materials and equipment to produce finished goods
human resources cycle, payroll cycle - ✔✔activities associated with hiring,
training, compensating, evaluating, promoting, and terminating employees
, financing cycle - ✔✔activities associated with raising money by selling shares in
the company to investors and borrowing money as well as paying dividends and
interest
general ledger, reporting system - ✔✔information-processing operations involved
in updating the general ledger and preparing reports for both management and
external parties
Accounting Information System (AIS) - ✔✔A system that collects, records,
stores, and processes data to produce information for decision makers. It includes
people, procedures and instructions, data, software, information technology
infrastructure, and internal controls and security measures
Accounting - ✔✔The systematic and comprehensive recording of an
organization's financial transactions, including summarizing, analyzing, and
reporting these transactions to all users.
artificial intelligence (AI) - ✔✔the use of computer systems to simulate human
intelligence processes such as learning, reasoning, and self-improvement
Data Analytics - ✔✔use of software and algorithms to find and solve problems
and improve business performance
VERIFIED ANSWERS { GUARANTEED
A+}
System - ✔✔two or more interrelated components that interact to achieve a goal,
often composed of subsystems that support the larger system
goal conflict - ✔✔when a subsystem's goals are inconsistent with the goals of
another subsystem or the system as a whole
goal congruence - ✔✔when a subsystem achieves its goals while contributing to
the organization's overall goal
Data - ✔✔facts that are collected, recorded, stored, and processed by an
information system
information - ✔✔data that have been organized and processed to provide meaning
and improve decision making
,machine-readable - ✔✔data in a format that can be processed by a computer
information overload - ✔✔exceeding the amount of information a human mind
can absorb and process, resulting in a decline in decision-making quality and an
increase in the cost of providing information
Information Technology (IT) - ✔✔the computers and other electronic devices
used to store, retrieve, transmit and manipulate data
value of information - ✔✔the benefit provided by information less the cost of
producing it
Information System - ✔✔the people and technologies in an organization that
produce information
Business Process - ✔✔a set of related, coordinated, and structured activities and
tasks, performed by a person, a computer, or a machine, that help accomplish a
specific organizational goal
transaction - ✔✔an agreement between two entities to exchange goods or
services, such as selling inventory in exchange for cash; any other event that can be
measured in economic terms by an organization
,Transaction Processing - ✔✔Process of capturing transaction data, processing it,
storing it for later use, and producing information output, such as a managerial
report or a financial statement.
give-get exchange - ✔✔transactions that happen a great many times, such as
giving up cash to get inventory from a supplier and giving employees a paycheck
in exchange for their labor
business processes, transaction cycles - ✔✔the major give-get exchanges that
occur frequently in most companies
Revenue Cycle - ✔✔activities associated with selling goods and services in
exchange for cash or a future promise to receive cash
Expenditure Cycle - ✔✔activities associated with purchasing inventory for resale
or raw materials in exchange for cash or a future promise to pay cash
production cycle, conversion cycle - ✔✔activities associated with using labor,
raw materials and equipment to produce finished goods
human resources cycle, payroll cycle - ✔✔activities associated with hiring,
training, compensating, evaluating, promoting, and terminating employees
, financing cycle - ✔✔activities associated with raising money by selling shares in
the company to investors and borrowing money as well as paying dividends and
interest
general ledger, reporting system - ✔✔information-processing operations involved
in updating the general ledger and preparing reports for both management and
external parties
Accounting Information System (AIS) - ✔✔A system that collects, records,
stores, and processes data to produce information for decision makers. It includes
people, procedures and instructions, data, software, information technology
infrastructure, and internal controls and security measures
Accounting - ✔✔The systematic and comprehensive recording of an
organization's financial transactions, including summarizing, analyzing, and
reporting these transactions to all users.
artificial intelligence (AI) - ✔✔the use of computer systems to simulate human
intelligence processes such as learning, reasoning, and self-improvement
Data Analytics - ✔✔use of software and algorithms to find and solve problems
and improve business performance
