Transaction Processing and ERP Systems
general ledger - ANS-Contains summary-level data for every asset, liability, equity, revenue, and
expense account
sequence code - ANS-Items are numbered consecutively to account for all items; missing items
cause a gap in the numerical sequence
audit trail - ANS-Path of a transaction through a data processing system from point of origin to
final output, or backward from final output to point of origin
chart of accounts - ANS-List of general ledger account numbers; allows transaction data to be
coded, classified, and entered into proper accounts; facilitates preparation of financial
statements and reports
data value - ANS-Contents of a specific field, such as "George" in a name field
field - ANS-Portion of a data record that contains the data value for a particular attribute, like a
cell in a spreadsheet
turnaround documents - ANS-Company data sent to an external party and then returned to the
system as input
general journal - ANS-Used to record infrequent or nonroutine transactions
attribute - ANS-Characteristics of interest that need to be stored
data processing cycle - ANS-The steps a company must follow to efficiently and effectively
process data about its transactions
entity - ANS-Something about which information is stored
master file - ANS-Stores cumulative information about an organization; like a ledger in a manual
AIS
subsidiary ledger - ANS-Contains detailed data for any general ledger account with many
individual subaccounts
transaction file - ANS-Contains records of individual business transactions that occur during a
specific time period
online, real-time processing - ANS-Updating each transaction as it occurs
general ledger - ANS-Contains summary-level data for every asset, liability, equity, revenue, and
expense account
sequence code - ANS-Items are numbered consecutively to account for all items; missing items
cause a gap in the numerical sequence
audit trail - ANS-Path of a transaction through a data processing system from point of origin to
final output, or backward from final output to point of origin
chart of accounts - ANS-List of general ledger account numbers; allows transaction data to be
coded, classified, and entered into proper accounts; facilitates preparation of financial
statements and reports
data value - ANS-Contents of a specific field, such as "George" in a name field
field - ANS-Portion of a data record that contains the data value for a particular attribute, like a
cell in a spreadsheet
turnaround documents - ANS-Company data sent to an external party and then returned to the
system as input
general journal - ANS-Used to record infrequent or nonroutine transactions
attribute - ANS-Characteristics of interest that need to be stored
data processing cycle - ANS-The steps a company must follow to efficiently and effectively
process data about its transactions
entity - ANS-Something about which information is stored
master file - ANS-Stores cumulative information about an organization; like a ledger in a manual
AIS
subsidiary ledger - ANS-Contains detailed data for any general ledger account with many
individual subaccounts
transaction file - ANS-Contains records of individual business transactions that occur during a
specific time period
online, real-time processing - ANS-Updating each transaction as it occurs
