ACCT 340 - FALL 2021 SEMESTER-ASSIGNMENT #1 - Due on Sep 14 @ 11:159 #1. Match the description in the right column with the correct information characteristic in the left 1. Access restricted A. A report was carefully designed so that the reader easily comprehended its data 2. Accurate B. A manager working on the weekend needed information about a customer's production requests and found it on the company's network. 3. Available C. Before production reports are accepted, two clerks working independently must produce the same information 4. Reputable D. An accounts receivable aging report included all customer accounts 5.Complete E. A report was checked by three different people to make sure it was correct. 6. Concise F. An accounts receivable aging report is used in credit- granting decisions 7. Consistent G. An accounts receivable aging report was received before the credit manager had to decide whether to extend credit to a customer 8. Current H. Needing help with a decision, a manager sought the opinion of a highly regarded expert 9. Objective To protect intellectual property, a company encrypted the data, stored it in a very secure facility, and limited its use to five people 10. Relevant J. Tired of keying supplier prices into a database, a purchasing manager insisted the data be sent in machine readable form 11. Timely K. After a lengthy, rambling presentation, a CEO insisted future presentations contain only pertinent facts and last $ 4 % 5 & 7 3 6 8 0 E R T Y U o P 12. Useable 13. Understandable no more than 30 minutes. L. A new manager insisted that monthly reports look the same so she could compare a new month's results to previous months M. After making a decision based on outdated data, a new CFO required all analysis to be conducted with up-to- date data. N. Reluctant to rely on his personal feelings about a decision, a manager sought the opinion of an outside expert 14. Verifiable ACCT 340 - FALL 2021 SEMESTER - ASSIGNMENT #1 - Due on Sep 14 @ 11:199 #2. Classify each of the following items as belonging in the revenue, expenditure, human resources/payroll, production, or financing cycle. 1 o S D F G . J K #3 Match each of the following terms with its definition 1. Accounting information System 2. Artificial intelligence 3. Blockchain 4. Business processes 5. Data 6. Data analytics 1 A Exceeding the amount of information a human mind can absorb and process B. Use of software and algorithms to find and solve problems and improve business performance The benefit provided by information minus the cost of producing it D. A set of activities and tasks that help accomplish a specific organizational goal E An agreement to exchange goods or services in exchange for cash F. Process of capturing processing, and storing transaction data for later use and for producing information output G. Individual digital records linked using cryptography in a single list called a chain H. Activities associated with selling goods and services in exchange for cash or a future promise of cash 1 Value chain activities that produce, market and deliver products to customers and provide past delivery support 1. A system that collects, records stores, and processes data to produce information for decision makers K Linking all the primary and support activities in a business LActivities such as firm infrastructure and technology that enable main activities to be 7. Expenditure cycle 8. General ledger & reporting system 9. Information 10. Machine readable 11. Primary activities 12 Production cycle FR NO # 3 % 5 o 0 8 7 6 OP Y T U E R W 2 L H G TI s D M N B X C V 12. Production cycle 13. Revenue cycle 14. Support activities L Activities such as firm infrastructure and technology that enable main activities to be performed efficiently and effectively M. Information processing operations involved in preparing reports for internal and external parties N Activities associated with purchasing inventory for resale for cash or a promise to O. Data in a format that can be processed by a computer P. Computer systems that simulate human intelligence processes such as leaming, reasoning, and self-improvement Q. Procedures and routines that carry out specific activities, achieve objectives, or solve problems pay cash 15. System 16. Transaction 17 Value chain 1 ACCT 340 - FALL 2021 SEMESTER-ASSIGNMENT#1 - Due on Sep 14, 11:159 18. Value of information R. Facts collected, recorded, stored and processed by an information system S Activities asocia with using labot, raw materials and equipment to produce finished goods S 4 % S & 7 8 6 9 2 0 3 W o E P T R U Y ACCT 340 - FALL 2021 SEMESTER - ASSIGNMENT #1 - Due on Sep 14 @ 11:159 18. Value of information R. Facts collected, recorded, stored, and processed by an information system S. Activities associated with using labor, taw materials, and equipment to produce finished goods T. t Organized and processed data that provide meaning and improve decision making U. Activities associated with hiring compensating promoting, and terminating employees V. Major give-get exchanges that occur frequently in most companies Do # 3 $ 4 % 5 a> 8 7 8 9 0 V E R T Y U