Home work Chapter 2 Overview of Transaction Processing and Enterprise Resource Planning Systems. Choice problems( Choose the Best One Answer) 1 A delivery of inventory from a vendor, with whom a credit line is already established, would be initially recorded in which type of accounting record and as part of what transaction cycle? A) purchases journal; expenditure cycle B) general journal; expenditure cycle C) general ledger; expenditure cycle D) cash disbursements journal; production cycle2 Identify the four parts of the transaction processing cycle. A) data input, data storage, data processing, information output B) data input, data recall, data processing, information output C) data input, data recall, data transmission, information output D) data input, data recall, data transmission, data storage3 Identify the item below that is not one of the four different types of data processing activities. A) creating B) reading C) using D) deleting4Which of the following statements is true? A) Batch processing ensures that stored information is always current. B) Batch input is more accurate than on-line data entry. C) On-line batch processing is a combination of real-time and batch processing. D) Batch processing is not frequently used.5 A chart of accounts is an example of (select all that apply) A) sequence codes. B) block codes. C) group codes. D) mnemonic codes.6Data about all of the following facets of a business activity are most likely to be recorded in a master file except the A) business activity. B) resources affected by the business activity. C) people who participate in the business activity. D) place the business activity occurs.7Which statement below regarding the AIS and managerial reports is false? A) The AIS is best utilized for financial data while the management information system is best utilized for operational data. B) The AIS must be able to provide managers with detailed operational information about the organizations performance. C) Both financial and nonfinancial data are required for proper and complete evaluation of organizational performance. D) Most source documents capture both financial and nonfinancial data about business transactions.Answer to Questions 1Describe the methods used to collect data about business activities. Describe design and control considerations for each of the data collection methods.Home work + answers Chapter 2 Overview of Transaction Processing and Enterprise Resource Planning Systems. Choice problems( Choose the Best One Answer) 1 A delivery of inventory from a vendor, with whom a credit line is already established, would be initially recorded in which type of accounting record and as part of what transaction cycle? A) purchases journal; expenditure cycle B) general journal; expenditure cycle C) general ledger; expenditure cycle D) cash disbursements journal; production cycle Answer: A2 Identify the four parts of the transaction processing cycle. A) data input, data storage, data processing, information output B) data input, data recall, data processing, information output C) data input, data recall, data transmission, information output D) data input, data recall, data transmission, data storage Answer: A3 Identify the item below that is not one of the four different types of data processing activities. A) creating B) reading C) using D) deleting Answer: C4Which of the following statements is true? A) Batch processing ensures that stored information is always current. B) Batch input is more accurate than on-line data entry. C) On-line batch processing is a combination of real-time and batch processing. D) Batch processing is not frequently used. Answer: C5 A chart of accounts is an example of (select all that apply) A) sequence codes. B) block codes. C) group codes. D) mnemonic codes. Answer: B, C6Data about all of the following facets of a business activity are most likely to be recorded in a master file except the A) business activity. B) resources affected by the business activity. C) people who participate in the business activity. D) place the business activity occurs. Answer: A7Which statement below regarding the AIS and managerial reports is false? A) The AIS is best utilized for financial data while the management information system is best utilized for operational data. B) The AIS must be able to provide managers with detailed operational information about the organizations performance. C) Both financial and nonfinancial data are required for proper and complete evaluation of organizational performance. D) Most source documents capture both financial and nonfinancial data about business transactions. Answer: A.Answer to Questions 1Describe the methods used to collect data about business activities. Describe design and control considerations for each of the data collection methods. Answer: Data about business activities can be collected with source documents, either on paper or electronic, tu