2.5 Match the following terms with their de finitions. Term Definition a. data p

Question

2.5 Match the following terms with their de finitions. Term Definition a. data processing cycle 1. Contains summary-level data for ev , equity ery asset, liability and expense account Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequenae 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 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 repots Contents of a specific field, such as George" in a name field Portion of a data record that contains the data value for a particular attri- bute, like a cell in a spre adsheet revenue, b. source documents 2. 3. -d. source data automation 4. _e·general ledger 5. f. subsidiary ledger 6. _ g. control account 7. Company data sent to an external party and then returned to the system as input Used to record infrequent or nonrou- ine transactions Characteristics of interest that need to be stored h. coding 8. 9. 10. The steps a company must follow to -.. i. sequence code -j. block code efficiently and effectively process data about its transactions k. group code 11. Something about which information is stored 1, mnemonic code 12. Stores cumulative information about an organization; like a ledger in a 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 15. Updating each transaction as it occurs 16. Devices that capture transaction data o, specialized joumal _ p. audit trail in machine-readable form at the time and place of their origin -q. entity 17. Used to record large numbers of re- _ r. attribute 18. Set of interrelated, centrally coordi- nated files

Explanation / Answer

SOLUTION:

1) Contains summary-level data for every asset, liability, equity, revenue, and expense account

Solution: general ledger

Explanation: A general ledger is a complete record of all the financial transactions of the firm throughout its life.

2) Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence

Solution: sequence code

Explanation: In a sequence code items are numbered consecutively to account for all items

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

Solution: audit trail

Explanation: An audit trail traces the detailed transactions in relation to any item in a company's record

4) 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

Solution: chart of accounts

Explanation: The chart of accounts refers to a list of all accounts used in the general ledger of a firm

5) Contents of a specific field, such as “George” in a name field

Solution: data value

Explanation: A data value refers to element of a value domain

6) Portion of a data record that contains the data value for a particular attribute, like a cell in a spreadsheet

Solution: field

Explanation: Field is the portion of a data record that contains the data value for a specific attribute

7) Company data sent to an turnaround documents

Solution: turnaround documents

Explanation: A turnaround document refers to document that has been output from a computer, certain additional information added to it, and then returned to become an input document.

8) Used to record infrequent or non-routine transactions

Solution: general journal

Explanation: It is the point of entry of company transactions into the accounting system.

9) Characteristics of interest that need to be stored

Solution: attribute

Explanation: Attributes are the characteristics of interest that need to be stored

10) The steps a company must follow to efficiently and effectively process data about its transactions

Solution: data processing

Explanation: It carries out of operations on data, to transform, retrieve, or classify information.

11) Something about which information is stored

Solution: entity

Explanation: Entity is where the information is stored

12) Stores cumulative information about an organization; like a ledger in a manual AIS

Solution: master file

Explanation: Master file is like a ledger in a manual AIS

13) Contains detailed data for any general ledger account with many individual subaccounts

Solution: subsidiary ledger

Explanation: Subsidiary ledger is specifically designed for the storage of particular types of accounting transactions

14) Contains records of individual business transactions that occur during a specific time period

Solution: transaction file

Explanation: The data in transaction files is used for the updation of the master files

15) Updating each transaction as it occurs

Solution: online, real-time processing

Explanation: Updating each transaction as it occurs online

16) Devices that capture transaction data in machine-readable form at the time and place of their origin

Solution: source data automation

Explanation: This is the process of collecting data at their point of origin in digital form

17) Used to record large numbers of repetitive transactions

Solution: specialized journal

Explanation: Special journals are designed in an easy approach to record the most frequently occurring transactions

18) Set of interrelated, centrally coordinated files

Solution: database

Explanation: Database is a set of interrelated, centrally coordinated files

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