AIS Exam 1 (Ch. 1, 2, 3, 5, 6, 7) with questions and answers 2023 100% verified

AIS Exam 1 (Ch. 1, 2, 3, 5, 6, 7) with questions and answers 2023 100% verified System - 1. an entity consisting of two or more components or subsystems that interact to achieve a goal. 2. the equipment and programs that comprise a complete computer installation. 3. the programs and related procedures that perform a single task on a computer. Goal conflict - occurs when a decision or action of a subsystem is inconsistent with another subsystem or the system as a whole. goal congruence - achieved 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 to produce informaiton information - data that have been organized and processed to provide meaning to a user information overload - the state in which additional information can not be used efficiently and has no marginal value. information technology (IT) - information system designers use IT to help decision makers more effectively filter and condense information. value of information - the benefit produced by the information minus the cost of producing it. business process - a set of related, coordinated, and structured activities and tasks that help accomplish a specific organizational goal. transaction - an agreement between two entities to exchange goods or services. any exchange that can be measured in economic terms by an organization. transaction processing - a process that begins with capturing transaction data and ends with an informational output. give-get exchange - a event in which two entities exchange items, such as cash for goods or services. transaction cycles - a group of related business activities (sales order entry, shipping, billing, and cash receipts constitutes the revenue cycle). the four transaction cycle covered in the text are revenue, expenditure, production, and human resource management/payroll. revenue cycle - the recurring set of business activities and data processing operations associated with providing goods and services to customers and collecting cash in payment for those sales. expenditure cycle - a recurring set of business activities and related data processing operations associated with the purchase of and payments for goods and services. production (conversion) cycle - the recurring set of business activities and related data processing operations associated with the manufacture of products.