facts that are collected, recorded, stored, and processed

answer: Data

Data that has been organized and processed

Answer: Information

two or more interrelated components interact to achieve a common goal,

answer: system

terms used for computers and other electronic devices to store, retrieve, transmit, and manipulate data.

Answer: information technology

subsystem's goals are inconsistent withthe purposes of another subsystem or the system.

Answer: goal conflict

a subsystem achieves its goals and also contributing to the organization’s overall goal.

Answer: goal congruence

exceeding amount of information will result in a decline in decision making quality.

Answer: information overload

very important in evaluating whether theinformation that you will be gathered is essential for the
organization.

Answer: value of information

set of formal procedures

ans: information system

funamentals:
ans:

a. To support the stewardship function of management

b. To support management decision making

c. to support the firm’s day-to-day operations.

Qualities of Good Information-

Rrctuv

set of related, coordinated, and structured activities and tasks performed

business process

One of the business processes which originates from

purchasing inventory to reselling it or convert them to raw materials in

exchange for cash or a future promise to pay some money.

Expenditure cycle

primary recipients of financial statement

information, which is outside the organization like the stockholders, creditors,

and government agencies.

Eternal parties

business process that is associated with accumulating

money

financiang cycle