ACCTMIS 3600 Exam 1 Questions and Answers Already Passed Latest Update 2025-2026
Business Intelligence - AnswersAnalyzes data to glean insights for improved decisions and performance
Objective of the Accounting System - AnswersProvide information for decision making
3 aspects to the accounting system - AnswersStore accounting data
Analyze accounting data
Safeguard accounting data
Integrated Enterprise System - AnswersShares data across functional areas within the enterprise
Subsystems of an Enterprise System - AnswersAccounting
Supply Chain Management (SCM)
Operations/Production System (OPS)
Human Resource Management (HRM)
Customer Relationship Management (CRM)
3 functions of an enterprise system are - AnswersInput, process, and output
Business Processes - AnswersRelated activities performed by an enterprise to create value by
transforming input into output
Value Chain - AnswersOrganizing framework for business processes
Series of activities that create value
IT term for accounting cycles - AnswersBusiness processes
6 modules in a baseline accounting system - AnswersVendors, Customers, Employees, Banking,
Financial, Reports
Most accounting info is not entered - Answersusing debits and credits
Fields - AnswersColumns in a table
Pieces of info about events, people, and objects
Record - AnswersRows in a table
collection of related fields
Table - AnswersCollection of related records with a unique table name
, Database - AnswersCollection of related tables
Relational Database - AnswersDatabase tables are related or connected through fields common to two
or more tables
Primary Key - AnswersUnique identifier for each record in a database table
Operational Database - AnswersUsed for operating the business (such as accounting transactions)
Best time to end fiscal year - AnswersDuring the slowest part of the year for the company (allows for
planning and budgeting)
Data Warehouses - AnswersUsed to store and analyze data for business intelligence
External Databases - AnswersTypically accessed over the internet
Owned by other organizations
Enterprise databases include - AnswersOperational databases
Data warehouses
External databases
80/20 rule of designing accounting databases - Answers80% design/planning
20% maintenance
Database Management System - AnswersSoftware that stores data in the appropriate database table
and processes accounting data
Software that accompanies the database, supports what the user sees
Users only have access to the 3 database essentials - AnswersDatabase forms
Queries
Database reports
Purchasing Cycle - AnswersCreate Purchase Orders --> Receive Items --> Enter Bills --> Pay Bills
Sales Cycle - AnswersCreate Invoices --> Receive Customer Payments --> Make Deposits
Payroll Cycle - AnswersEnter Time --> Calculate Payroll --> Pay Employees --> Pay Payroll Liabilities
Financial Module Activities - AnswersAdjusting Entries
Correcting Entries
Closing Entries
Business Intelligence - AnswersAnalyzes data to glean insights for improved decisions and performance
Objective of the Accounting System - AnswersProvide information for decision making
3 aspects to the accounting system - AnswersStore accounting data
Analyze accounting data
Safeguard accounting data
Integrated Enterprise System - AnswersShares data across functional areas within the enterprise
Subsystems of an Enterprise System - AnswersAccounting
Supply Chain Management (SCM)
Operations/Production System (OPS)
Human Resource Management (HRM)
Customer Relationship Management (CRM)
3 functions of an enterprise system are - AnswersInput, process, and output
Business Processes - AnswersRelated activities performed by an enterprise to create value by
transforming input into output
Value Chain - AnswersOrganizing framework for business processes
Series of activities that create value
IT term for accounting cycles - AnswersBusiness processes
6 modules in a baseline accounting system - AnswersVendors, Customers, Employees, Banking,
Financial, Reports
Most accounting info is not entered - Answersusing debits and credits
Fields - AnswersColumns in a table
Pieces of info about events, people, and objects
Record - AnswersRows in a table
collection of related fields
Table - AnswersCollection of related records with a unique table name
, Database - AnswersCollection of related tables
Relational Database - AnswersDatabase tables are related or connected through fields common to two
or more tables
Primary Key - AnswersUnique identifier for each record in a database table
Operational Database - AnswersUsed for operating the business (such as accounting transactions)
Best time to end fiscal year - AnswersDuring the slowest part of the year for the company (allows for
planning and budgeting)
Data Warehouses - AnswersUsed to store and analyze data for business intelligence
External Databases - AnswersTypically accessed over the internet
Owned by other organizations
Enterprise databases include - AnswersOperational databases
Data warehouses
External databases
80/20 rule of designing accounting databases - Answers80% design/planning
20% maintenance
Database Management System - AnswersSoftware that stores data in the appropriate database table
and processes accounting data
Software that accompanies the database, supports what the user sees
Users only have access to the 3 database essentials - AnswersDatabase forms
Queries
Database reports
Purchasing Cycle - AnswersCreate Purchase Orders --> Receive Items --> Enter Bills --> Pay Bills
Sales Cycle - AnswersCreate Invoices --> Receive Customer Payments --> Make Deposits
Payroll Cycle - AnswersEnter Time --> Calculate Payroll --> Pay Employees --> Pay Payroll Liabilities
Financial Module Activities - AnswersAdjusting Entries
Correcting Entries
Closing Entries
