Chapter 1 H

Topics: Economics, Expense, Factory Pages: 2 (290 words) Published: April 13, 2015
Chapter 1 H.W.
Quiz Questions
1. Data differ from information in which way? b. Information is output, and data are input.

2. Which of the following is NOT a characteristic that makes information useful? c. It is inexpensive

3. Which transaction cycle includes interactions between an organization and its suppliers? b. expenditure cycle

4. Which of the following is NOT a means by which information improves decision making? a. increases information overload

5. In the value chain concept, upgrading IT is considered what kind of activity? b. support activity

a. Purchase raw materials – Expenditure cycle
b. Pay off mortgage on factory – Financing cycle
c. Hire a new assistant controller – Human resources/payroll cycle d. Establish a $10,000 credit limit for a new customer – Revenue cycle e. Pay for raw materials – Expenditure cycle
f. Disburse payroll checks to factory workers - Human resources/payroll cycle g. Record goods received from vendor – Expenditure cycle
h. Update the allowance for uncollectible accounts – Revenue cycle i. Decide how many units to make next month – Production cycle j. Complete picking ticket for customer order – Revenue cycle k. Record factory employee timecards - Human resources/payroll cycle l. Sell concert tickets – Revenue cycle

m. Draw on line-of-credit – Financing cycle
n. Send new employees to a business ethics course - Human resources/payroll cycle o. Pay utility bills – Expenditure cycle
p. Pay property taxes on office building – Expenditure cycle q. Pay federal payroll taxes - Human resources/payroll cycle r. Sell DVD player – Revenue cycle
s. Collect payment on customer accounts – Revenue cycle
t. Obtain a bank loan – Financing cycle
u. Pay sales commissions - Human resources/payroll cycle
v. Send an order to a vendor – Expenditure cycle
w. Put purchased goods into the warehouse – Expenditure cycle
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