Need answers for Exercise 2.5 CHAPTER 2 OVERVIEW OF TRANSACTION PROCESSING AND 2

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Need answers for Exercise 2.5

CHAPTER 2 OVERVIEW OF TRANSACTION PROCESSING AND 2.4. Your nursery sells various types and sizes of trees, bedding plants, vegetable plants, and shrubs. It also sells fertilizer and potting soil. Design a coding scheme for your nursery Match the following terms with their definitions. Term 2.5. Definition a. data processing cycle 1. Contains summary-level data for ev- ery asset, liability, equity, revenue, and expense account b. source documents 2. Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence c. turnaround documents 3. Path of a transaction through a data processing system from point of ori- gin to final output, or backward from final output to point of origin d. source data automation 4. List of general ledger account num- bers; allows transaction data to be coded, classified, and entered into proper accounts; facilitates prepa- ration of financial statements and reports e. general ledger 5. Contents of a specific field, such as "George" in a name field _f, subsidiary ledger 6. Portion of a data record that contains the data value for a particular attri- bute, like a cell in a spreadsheet 7. Company data sent to an external 8. Used to record infrequent or nonrou 9. Characteristics of interest that need to 10. The steps a company must follow to _g. control account party and then returned to the system as input -h. coding tine transactions i. sequence code -- be stored _j. block code efficiently and effectively process data about its transactions is stored an organization; like a ledger in a k. group code 11. Something about which information 1. mnemonic code 12. Stores cumulative information about manual AIS m. chart of accounts 13. Contains detailed data for any general ledger account with many individual subaccounts n. general journal 14. Contains records of individual busi- ness transactions that occur during a specific time period . specializedjournal audit trail 15. Updating each transaction as it occurs 16. Devices that capture transaction data p, in machine-readable form at the time and place of their origin -q, entity q. entity 17. Used to record large numbers of re- petitive transactions _r. attribute attribute 18. Set of interrelated, centrally coordi- nated files

Explanation / Answer

Term Definition a. data processing cycle 10. The steps a company must follow to efficiently and effectively process data about its transactions b. source documents 23. Initial record of a transaction that takes place; usually recorded on preprinted forms or formattted screens c. turnaround documents 7. Company data sent to an external party and then returned to the system as input d. source data automation 16. Devices that capture transaction data in machine-readable form at the time and place of their origin e. general ledger 1. Contains summary-level data for every asset, liability, equity, revenue, and expense account f. subsidiary ledger 13. Contains detailed data for any general ledger account with many individual subaccounts g. control account 26. The general ledger account corresponding to a subsidiary ledger, where the sum of all subsidiary ledger entries should equal the amount in the general ledger account h. coding 21. Systematic assignment of numbers or letters to items to classify and organize them i. sequence code 2. Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence j. block code 25. Sets of numbers are reserved for specific categories of data k. group code 19. Two or more subgroups of digits are used to code items I. mnemonic code 22. Letters and numbers, derived from the item description, are interspersed to identify items: usually easy to memorize m. chart of accounts 4. List of general ledger account numbers; allows transaction data to be coded, classified, and entered into proper accounts; facilitates preparation of flnancial statements and reports n. general journal 8. Used to record infrequent or nonroutine transactions o. specialized journal 17. Used to record large numbers of repetitive transactions p. audit trail 3 . 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 q. entity 1 1. Something about which information is stored r. attribute 9. Characteristics of interest that need to be stored s. field 5. Contents of a specific field, such as George in a name field t. record 24. Fields containing data about entity attributes; like a row in a spreadsheet u. data value 6. Portion of a data record that contains the data value for a particular attribute, like a cell in a spreadsheet v. master file 12. Stores cumulative information about an organization; like a ledger in a manual AIS w. transaction file 4. Contains records of individual business transactions that occur during a specific time period x. database 18. Set of interrelated, centrally coordinated files y. batch processing 20. Updating done periodically, such as daily z. online. real-time processing I 5. Updating each transaction as it occurs

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