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1 | |
Examples of transactions include: |
| | A) | Making a purchase at a store, withdrawing money from a checking account, paying an employee. |
| | B) | Balancing your checkbook, entering data to a general ledger, paying an employee. |
| | C) | Making a purchase at a store, making choices to be sent to an on-line shopping cart, depositing money to your account. |
| | D) | Depositing money to an account, withdrawing money from an account, making choices to be sent to an on-line shopping chart. |
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2 | |
The two basic components of a transaction-processing system are: |
| | A) | Accounts payable and accounts receivable. |
| | B) | Orders and shipping lists. |
| | C) | Accomplishing the transaction and capturing data relevant to it. |
| | D) | Raw data and the reports extracted therefrom. |
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3 | |
The two basic methods of accomplishing the transfer of data in EDI are: |
| | A) | Microwave transmission and dedicated phone lines. |
| | B) | Sending data directly from one computer to another, or sending data to a trusted third party who will consolidate the data and send it on. |
| | C) | Hardwiring the computers together, sending encrypted messages over the Internet. |
| | D) | Sending e-mail messages containing the data, microwave transmission. |
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4 | |
E-commerce consists of the ability to: |
| | A) | Use a browser to find the item you are looking for. |
| | B) | Research, select, and purchase items on-line. |
| | C) | Use credit cards on the Web. |
| | D) | Ensure quick delivery directly to your home or place of business. |
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5 | |
A problem for e-commerce sites that many consumers do not realize is that the credit card companies: |
| | A) | Do not cover losses from fraudulent mail orders, telephone orders, or Internet orders. |
| | B) | Will not validate credit card holders. |
| | C) | Charge very high fees of ten percent or more for credit card transfers. |
| | D) | Require financial statements from the e-commerce site. |
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6 | |
Customers appreciate, even require, on-line order confirmation containing: |
| | A) | An order number and a way to track their purchase. |
| | B) | List of the items purchased, prices, shipping costs. |
| | C) | Immediate validation of the order itself, and its contents, with prices. |
| | D) | List of the items purchased, inventory status, price, total value of the order, with an order number. |
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7 | |
Problems occurring with the data quality attribute of summaries are/is: |
| | A) | Too much detail to keep track of, but often difficult or impossible to recover the details later. |
| | B) | Deadlines, different departments getting data at different times can cause sequencing errors and additional delays. |
| | C) | Cost, difficulty of searching, transmission costs, errors harder to find, system overload |
| | D) | Errors in data entry, missing data, failure to make updates. |
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8 | |
Home Depot helped to revolutionize the home improvement industry by: |
| | A) | Implementing cutting-edge information technology at all its cash registers. |
| | B) | Offering a high level of customer service that empowered customers to save time and money by doing it themselves. |
| | C) | Offering high-tech products for home repair. |
| | D) | Emphasizing safety |
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9 | |
Collecting data about a company's transactions is known as: |
| | A) | Transaction assimilation |
| | B) | Flux capacity |
| | C) | Transaction processing |
| | D) | Leverage |
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10 | |
Making a payment to a creditor, withdrawing money from a checking account, and paying an employee are examples of: |
| | A) | Transactions |
| | B) | Commerce |
| | C) | Lending |
| | D) | Crediting |
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11 | |
Transaction processing involves collecting data from: |
| | A) | Stock tips |
| | B) | External partners and business operations |
| | C) | Suppliers only |
| | D) | Customers only |
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12 | |
Gathering or acquiring data from a firm's operations and storing data in the computer systems are the major components of: |
| | A) | Accounting |
| | B) | Data capture |
| | C) | Transaction processing |
| | D) | Data entry |
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13 | |
Which is NOT one of the four basic methods used to collect data? |
| | A) | Electronic data interchange, or EDI |
| | B) | Point of sale |
| | C) | Process control |
| | D) | Online banking |
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14 | |
The U.S. Postal System uses a type of scanner that can read handwritten zip codes. This scanner is called: |
| | A) | Magnetic ink character recognition, or MICR |
| | B) | Bar code scanner |
| | C) | Electronic data interchange, or EDI |
| | D) | Optical character recognition scanner, or OCR |
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15 | |
Which is NOT a benefit of a point-of-sale system? |
| | A) | By collecting data immediately, it is easier to find and correct mistakes. |
| | B) | Because the sales data is captured immediately, the managers and clerks always know their inventory levels. |
| | C) | Employees do not have to keep track of the customers or discounts because the computer can look up discounts and apply them automatically. |
| | D) | Process control computers can also be used to monitor quality in the manufacturing process. |
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16 | |
Process control enables manufacturers to create products that match the needs of individual customers. This is known as: |
| | A) | Direct marketing |
| | B) | Data capture |
| | C) | Mass customization |
| | D) | Transaction processing |
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17 | |
The essence of electronic data interchange, or EDI, is: |
| | A) | The ability to transfer data from one computer to another in a single company. |
| | B) | The ability to transfer data among computers from different companies. |
| | C) | The ability to connect to suppliers so that production orders can be sent automatically at the same price as traditional paper-based systems. |
| | D) | The ability to collect data from manufacturing machines. |
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18 | |
Multiple proprietary EDI systems lead to: |
| | A) | Streamlined data interchange |
| | B) | Confusion and higher costs |
| | C) | Easier network compatibility |
| | D) | Cost savings |
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19 | |
What kind of commerce has the goal of processing transactions regardless of location? |
| | A) | Data interchange |
| | B) | E-commerce |
| | C) | Data capture |
| | D) | M-commerce |
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20 | |
Keeping good transaction records and identifying the customer through magnetic swipe of the card are examples of how: |
| | A) | A merchant can effectively guarantee payment to the card company. |
| | B) | A credit card company can effectively guarantee payment to the merchant. |
| | C) | A good customer's product or service may be lost. |
| | D) | M-commerce is conducted. |
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21 | |
Which of the following factors did not reduce customer risk before the age of credit cards? |
| | A) | Customers paid in cash. |
| | B) | Customers could personally examine the goods. |
| | C) | Electronic data interchange. |
| | D) | Customers often personally knew the merchant. |
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22 | |
Which of the following would NOT likely be of interest to the government with regard to the safeguarding of transactions? |
| | A) | An auditable record of transactions and financial statements for the protection of investors. |
| | B) | Identification of fraudulent transactions. |
| | C) | General tracking of money used in transactions to monitor other types of crimes, such as drugs and terrorism. |
| | D) | Whether the products are delivered to the customer in a timely fashion. |
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23 | |
E-commerce businesses, generally, have: |
| | A) | More protection from fraud than e-commerce shoppers. |
| | B) | About as much protection from fraud as e-commerce shoppers. |
| | C) | Less protection from fraud than e-commerce shoppers. |
| | D) | Almost zero risk of fraud. |
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24 | |
Which is the least serious risk with today's transmission systems? |
| | A) | Transmission risks. |
| | B) | Alteration of the purchase documents by either the merchant or the customer (repudiation). |
| | C) | Theft of consumer data from the vendor's computer. |
| | D) | All of the above are equally risky. |
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25 | |
When both the customer and the vendor encrypt an order … |
| | A) | The order can be altered within the next few days. |
| | B) | The order can be altered within the next few weeks. |
| | C) | The order can be altered at any time. |
| | D) | The order cannot be altered later. |
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26 | |
What kind of e-commerce provides companies with the ability to track customer preferences more closely and give the customers up-to-date information on products and options? |
| | A) | M-commerce. |
| | B) | Business-to-business (B2B) e-commerce. |
| | C) | Business-to-consumer (B2C) e-commerce. |
| | D) | None of the above. |
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27 | |
What is the most challenging aspect to providing prepurchase information on a website? |
| | A) | Creating a relatively static website. |
| | B) | Getting customers to come to your site. |
| | C) | Offering the service 24 hours a day. |
| | D) | Changing the data if the prepurchase information changes. |
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28 | |
Which are basic elements required of online purchase mechanisms? |
| | A) | Transmission security. |
| | B) | User identification. |
| | C) | Payment validation. |
| | D) | All of the above. |
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29 | |
On a website, what is the best way to have retail customers choose products they want to buy? |
| | A) | Present each item individually. |
| | B) | Ask the customer to telephone the company. |
| | C) | Have the customer choose items and quantities from a list on the website. |
| | D) | Have the customer visit the company headquarters. |
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30 | |
Providing service, resolving problems, answering questions and evaluating products are all a part of: |
| | A) | Pre-purchase information |
| | B) | Purchasing mechanisms |
| | C) | Postpurchase support |
| | D) | Data transmission |
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31 | |
The European Union has privacy rules that are: |
| | A) | Substantially more lenient than other nations. |
| | B) | About as stringent as other nations. |
| | C) | Substantially more stringent than other nations. |
| | D) | Practically nonexistent. |
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32 | |
In the last couple of years, several industries have established more powerful websites to facilitate business transactions. Auction sites have been created for specific products. Generally, these sites support sales of: |
| | A) | Highly specialized software. |
| | B) | Relatively generic products such as steel, oil and paper. |
| | C) | Teas and spices. |
| | D) | Computers. |
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33 | |
From an e-commerce merchant perspective, credit cards offer: |
| | A) | Only minimal support and are expensive. |
| | B) | A very inexpensive payment mechanism. |
| | C) | Low transaction costs. |
| | D) | Digital cash. |
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34 | |
Essentially, electronic payment mechanisms are: |
| | A) | Outpacing all other payment mechanisms. |
| | B) | Virtually free of security risks. |
| | C) | Being developed largely outside the private sector. |
| | D) | Still in their infancy. |
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35 | |
Concurrency arises when: |
| | A) | Applications attempt to modify the different pieces of data at the same time. |
| | B) | Applications attempt to modify the same piece of data at the same time. |
| | C) | Applications attempt to modify the same piece of data at different times. |
| | D) | People disagree. |
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36 | |
With the increase in volume and the computerization of new types of data…: |
| | A) | It is easier for programmers and managers to check data. |
| | B) | It is more difficult for programmers and managers to check data. |
| | C) | Paper-based transactions are making a comeback. |
| | D) | None of the above. |
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37 | |
Raw financial data is collected by the accounting department and stored in an: |
| | A) | General ledger. |
| | B) | Chart of account. |
| | C) | Exception report. |
| | D) | Accounting journal. |
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38 | |
A collection of accounts that break data into specific categories is called the: |
| | A) | General ledger. |
| | B) | Chart of account. |
| | C) | Exception report. |
| | D) | Accounting journal. |
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39 | |
At Company X, whenever inventories fall below a defined level, the accounting system automatically sends a message to the appropriate manager. This kind of message is called a: |
| | A) | General ledger. |
| | B) | Chart of account. |
| | C) | Exception report. |
| | D) | Accounting journal. |
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40 | |
At Company X, a cash-flow statement indicates that the company has spent twice as much money this month as last. To find out why, an employee traces backward to find all of the raw entries that make up the number. The employee is soon able to determine the cause of the increase. In this case, the cash-flow statement would be considered: |
| | A) | An audit trail. |
| | B) | A double-entry system. |
| | C) | A separation of duties. |
| | D) | EDI |
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41 | |
At a company, which staff is in charge of continually monitoring employment data? |
| | A) | Occupational Safety and Health Administration |
| | B) | Operations |
| | C) | Accounting |
| | D) | Human resource management |
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2003 McGraw-Hill Higher Education