JMU ACTG 313 Final Exam Richardson exam with correct answers

JMU ACTG 313 Final Exam Richardson ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




exam with correct answers ||\\||\\ ||\\||\\ ||\\||\\




data - correct answers✔✔facts collected, recorded, and stored
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in the system
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information - correct answers✔✔Data converted into a ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




meaningful and useful context ||\\||\\ ||\\||\\ ||\\||\\




information technology - correct answers✔✔used to help ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




decision makers more effectively filter and condense ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




information


value of information - correct answers✔✔Information is
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valuable when the benefits exceed the costs of gathering, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




maintaining, and storing the data. ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




access restricted - correct answers✔✔information is useful
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when it limits access to authorized parties
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,accurate - correct answers✔✔information is usefull when it is
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correct and free of error
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available - correct answers✔✔information is useful when users
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can get it when needed
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reputable - correct answers✔✔information is useful when ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




perceived as true and credible ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




complete - correct answers✔✔information is useful when it
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doesnt omit important aspects of events or activities
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concise - correct answers✔✔information is useful when clear,
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succinct, brief, but comprhensive ||\\||\\ ||\\||\\ ||\\||\\




consistent - correct answers✔✔information is useful when ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




presented in the same format over time ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




current - correct answers✔✔information is useful when up to
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the present date and time
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,objective - correct answers✔✔information is useful when ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




unbiased, unprejudiced, and impartial ||\\||\\ ||\\||\\ ||\\||\\




relevant - correct answers✔✔information is useful when it ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




reduces uncertainty and improves decision making ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




timely - correct answers✔✔information is useful when provided
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in time for a decision maker to make decisions
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useable - correct answers✔✔information is useful when easy to ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




use for different tasks
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understandable - correct answers✔✔information is useful when ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




easily comprehended and interpreted
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verifiable - correct answers✔✔information is useful when two ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




independent people can produce the same information ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




machine-readable - correct answers✔✔data is most useful ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




when it is in this format ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\

, business process - correct answers✔✔a set of related, ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




coordinated, and structured activities and tasks, performed by a ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




person, a computer, or a machine that help accomplish a
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specific organizational goal ||\\||\\ ||\\||\\




transaction processing - correct answers✔✔transaction data ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




used to create financial statements
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give-get exchange - correct answers✔✔transactions that
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happen a great many times ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




revenue cycle - correct answers✔✔give goods/ give service to
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get cash (company to customer)
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expenditure cycle - correct answers✔✔get goods/ get service to ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




give cash (vendor to customer)
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production cycle - correct answers✔✔give labor and give raw ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\




materials to get finished goods ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\