Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how


Chap 1, 2, 4 & 12

The manager was working one weekend and needed to find some information about production requests for a certain customer. He was able to find the report on the company’s network. Accessible
The data on a report was checked by two clerks working independently (see note above under #2 for the distinction between reliability and its sub-characteristic of verifiability) Verifiable
The report was carefully designed so that the data contained on the report became information to the reader Understandable
An accounts receivable aging report was received before the credit manager had to make a decision whether to extend customer credit Timely
An accounts receivable aging report that included all customer accounts Complete
A report checked by 3 different people for accuracy NOTE checking was done independently Reliable
An accounts receivable aging report used in credit granting decisions (i.e., the report was appropriate for using to make the particular decision) Relevant
Purchase raw materials Expenditure cycle Prepare, approve, and send purchase orders to vendors
Payoff mortgage on factory Financing cycle Retire debt
Hire a new assistant controller Human resources/payroll cycle Recruit, hire, and train new employees
Establish a $10,000 credit limit for XYZ company Revenue cycle Approve credit sales
Pay for raw materials Expenditure cycle Pay vendors for goods and services
Disburse payroll checks to factory workers Human resources/payroll cycle Prepare and disburse payroll
Record goods received from a vendor Expenditure cycle Receive goods and services and complete a receiving report
Update the allowance for uncollectible accounts Revenue cycle Handle sales returns, discounts, allowances, and bad debts
Decide how many units to make next month Production cycle Forecast, plan, and schedule production
Complete a picking ticket for goods ordered by customer Revenue cycle Pick and pack customer orders
Record factory employee timecards Human resources/payroll cycle Prepare and disburse payroll
Sell concert tickets Revenue cycle Approve credit sales
Draw on line-of-credit Financing cycle Borrow money from lenders
Send new employees to a business ethics course Human resources/payroll cycle Recruit, hire, and train new employees
Pay utility bills Expenditure cycle Pay vendors for goods and services
Pay property taxes on office building Expenditure cycle Pay vendors for goods and services
Pay federal payroll taxes Human resources/payroll cycle Calculate and disburse taxes and benefit payments
Sell DVD player Revenue cycle Approve credit sales
Collect payments on customer accounts Revenue cycle Receive customer payments and deposit them in the bank
Obtain a bank loan Financing cycle Borrow money from lenders
Pay sales commissions Human resources/payroll cycle Note Sales Prepare and disburse payroll
Send an order to a vendor Expenditure cycle Prepare, approve, and send purchase orders to vendors
Put purchased goods into the warehouse Expenditure cycle Store goods
Definition of: system A system is a set of two or more interrelated compontents that interact to acheive a goal
Definition of: information Information is data that have been organized and processed to provide meaning and improve tha decision-making process.
Definition of: data Data are facts that are collected, recorded, stored and processed by an information system.
Definition of: accounting Accounting is a data identification, collection, and storage process as well as an information development, measurement, and communication process.
Definition of: AIS AIS is the intelligence-the information-providing vehicle-of that language.
Data diffier from information in which way? Information is output, and data is input.
Which of the following is NOT a characteristic that makes information useful? It is reliable; It is timely; It is inexpensive; It is revelent; Inexpensive
Which of the following is a primary activity in the value chain? purchasing; accounting; post-sales service; human resources management; post-sales service because Service is a primary activity
Which transaction cycle includes interactions between an organization and its suppliers? revenue; expenditure; human resourdes/payroll; general ledger & reporting Expenditure
Which of the following is NOT a means by which information improves decision making? increase information overload; reduces uncertainty; providesfeedback on decision; identitfies mgt action; Increases information overload
In the value chain concept, upgrading IT is considered what kind of activity? Support activity
In which cycle does a company ship goods to customers? Revenue cycle b/c handles interactions with customers and organizations
Which of the following of an AIS? Transforming data into useful information
A firm, its suppliers, and its customers collectively form which of the following Supply chain
A report telling how well all approved vendors have performed in the prior 12 months is information that is MOST needed in which business process? Acquiring inventory
The steps a company must follow to efficiently and effectively process data about its transactions Data processing cycle
Initial record of a transaction that takes place; usually recorded on preprinted forms or fomatted screens Source documents
Company data sent to an external party and then returned to the system as input Turnaround documents
Devices that capture transaction data in machine-readable form at the time and place of their origin Source data automation
Contains summary-level data for every asset, liability, equity, revenue, and expense account General ledger
Contains detailed data for any general ledger account with many individual subaccounts Subsidiary ledger
The general ledger account corresponding to a sudsidiary ledger, where the sum of all subsidiary ledger entries should equal the amount in the general ledger account Control account
Systematic assignment of numbers of letter to items to classify and organize them Coding
Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence Sequence code
Set of numbers are reserved for specific categories of data Block code
Two or more subgroups of digits are used to code items Group code
Letters and numbers, derived from the item description, are interspersed to identify items; usually easy to memorize Mnemonic code
List of general ledger account numbers; allows transaction data to be coded, classified, and entered into proper accounts; facilitaes preparation of financial statements and reports Chart of account
Used to record infrequent or nonroutine transactions General journal
Used to record large numbers of repetitive transactions Specialized journal
Path of a transaction through a data processing system from point of origin to final output, or backwards from final output to point of origin Audit trail
Something about which information is stored Entity
Charateristics of interest that need to be stored Attribute
Portion of a data record that contains the data value for a particular attribute, like a cell in a spreadsheet Field
Fields containing data about entity attributes; like in a row in a spreadsheet Record
Contents of a specific field, such as "George" in a name field Data value
Stores cumulative information about an organization; like a ledger in a manual AIS Master file
Contains records fo individual business transactions that occur during a specific time period Transaction file
Set of interrelated, centrally coordinated files Database
Updating done periodically, such as daily Batch processing
Updating each transaction as it occurs Online, real-time processing
The relational data model portrays data as being stored in _________________. Tables
How a user conceptually organzies and understands data is refferred to as the ______________. Logical view
What is each row in a relational database table called? Tuple
Which of the following is an individual user's view of the database? External-level schema
Which of the following would managers most likely use to retrieve information about sales during the month of October? DQL - data query language
Which of the following attributes would most likely be a primary key? Supplier number
Which of the following is a software program that runs a database system? DBMS - database management system
The constraint that all primary keys must have non-null data values id reffered to as which fo the following? Entity inegrity rule
The constraint that all foreign keys must hafve either null values or the value of a primary key in another table is referred to as which of the following? Referential integrtiy rule
Which of the following attributes in the Cash Receipts table (representing payments received from customers) would most likely be a foreign key? Customer number
Which activity is part of the sales order entry process? Checking customer credit
Which document often accompanies merchandise shipped to a customer? Packing slip
Which method is most likely used when a company offers customers discounts for prompt payment? Open-invoice method
to process customer payment and update accounts receivable? FEDI -
Which of the following revenue cycle activities can pentenially be eliminated by technology? Billing
The integrated database underlying an ERP system results in which of the following general threats to the revenue cycle? Inaccurate or invalid master data; Unauthorized disclosure of sensitive information; Loss or destruction of data.
Which of the following provides a means to both improve the efficiency of processing customer payments and also enhance control over those payments? Lockboxes
For good internal control, who should approve credit memos? Credit manager
For good internal control over customer remittances, the mailclerk shuld separate the chacks from the remitance advices and send the customer payments to which department? Cashier
Document used to authorize reducing the balance in a customer account Credit memo
Process of dividing customer account master file into subsets and preparing invoices for one subset ar a time Cycle billing
System that integrates EFT and EDI information FEDI
System the contains customer-related data organized in a manner to facilitate customer service, sales, and retention CRM system
Method of maintaining accounts receivable that generates one payment for all sales made the previous month Balance-forward method
Method of maintaining customer accounts that generates payments for each individual sales transaction Open-invoice method
Maximum possible account balance for a customer Credit limit
Post Office box to which customer send payments Lockbox
Document used to indicate stockouts exist Backorder
Document used to establich responsiblity for shipping goods via a third party Bill of lading
Document that authorizes removal of merchandise from inventory Picking ticket
Turnaround documnet returned by customers with payments Remittance advice
4 steps in the data processing cycle Data input; data storage; data processing; information out
Data input Data is collected about 3 facets of each business activity REA
REA Resources Events Agents
Data storage How the company records transactions
Data processing CRUD Creating Reading Updating Deleting
Information out Displayed on monitor -- "soft copy" Printed documnets -- "hard copy"
What is DDL? Data Definition Language - builds the data dictionary, creates the database, describes logical viewsa for each user, and specifies records or fields secruity constraints. Create (define) the database...
What is DML? Data Manipulation Language - Changes the database content, including data elements updates, insertions, and deletions. Change (update, insert, delete) data in the database...
What is DQL? Data Query Language - contains powerful, easy-to-use commands that enable users to retrieve, sort, order, and display data. A report writer simpifies report creation. Query (retrieve, sort, order, display) data in the database...
Which activity is part of the sales order entry process? setting customer credit limits; preparing a bill of lading; checking customer credit; approving sales returns Checking customer credit
Which document often accompanies merchandise shipped to a customer? picking ticket; packing slip; credit memo; sales order Packing slip
Which method is most likely used when a company offers customers discount for prompt payment? open-invoice method; balance-forward method; accounts receivable aging method; cycle billing method Open-invoice method
This show the amount of monthly statement and does not track invoices balance-forward method
Which of the following techniques is the most efficient way to process customer payments & update accounts receivable? EFT; CRM; FEDI; ACH FEDI
4 basic activities of the revenue cycle Sales Order Entry; Shipping; Billing; Cash Collections
Sales Order Department; Credit Department; Inventory Control; Customer Service Sales Order Entry
Inventory Control; Shipping Department Shipping
Billing/Accounts Receivable Function in the Accounting Department; Credit Department Billing
Mailroom personnel; Accounts Receivable in the Accounting Department; Cashier Cash Collections
Sales Order Entry has 4 typical subactivities Take order from customer; Approve customer credit; Check inventory available; Respond to customer inquiries (i.e., Customer Service)
Shipping has 2 activities Pick and pack goods; Ship goods
Pick and pack goods by warehouse personnel in Inventory Control involves what documents Picking ticket (internally generated to Revenue Cycle by Inventory Control, based on data from the sales order copy received from Sales Order Department, could be an exact copy of the sales order)
Ship goods by Shipping Department involves what documents Packing slip (internally generated to Revenue Cycle by Shipping Department, based on comparing goods to picking ticket copy from Inventory Control) Bill of lading (externally generated to Revenue Cycle by Carrier – it is the Carrier’s form)
What type of key is sales order number on sales invoice? Sales order # is a foreign key
What are the typical interrelated components of an AIS? People -- most important; Procedures and instructions; Data to be processed into information; Software to process data into information; IT infrastructure; Internal controls and security
How is in the supply chain? Supplier; Manufacturer; Distributor; Retailer; Consumer
Data input records REA so Documents are used to record these entries? Source documents (including turnaround documents) and source data automation
A collection of related fields is ___________. A record or tuple
A collection of related records is __________. A table
A collection of related tables is ___________. A relational database
What is THE attribute that uniquely identifies a specific record from all other records in a table? Primary key
What is the other attributes in a table that help describe (a characteristic of) a specific record, but by themselves are not unique in identifying a specific record because multiple records can have the same attribute value? Nonkey/secondary keys
What is a special type of secondary key in a table that is a primary key in another table? Foreign key
Created by: dashep89
Popular Accounting sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards