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ACC543 Phoenix Week 4 Electronic Data Interchange and Finance Quiz

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Accounting
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University of Phoenix
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Which of the following is an advantage of a computer-based system for transaction processing over a manual system? A computer-based system Does not require as stringent a set of internal controls. Will produce a more accurate set of financial statements. Will be more efficient at producing financial statements. Eliminates the need to reconcile control accounts and subsidiary ledgers. A manufacturing company that wanted to be able to place material orders more efficiently most likely would utilize which of the following? Electronic check presentment. Electronic data interchange. Automated clearinghouse. Electronic funds transfer. Which of the following best defines electronic data interchange (EDI) transactions? Electronic business information is exchanged between two or more businesses. Customers' funds-related transactions are electronically transmitted and processed. Entered sales data are electronically transmitted via a centralized network to a central processor. Products sold on central web servers can be accessed by users anytime. Which of the following terms best describes a payroll system? Database management system (DBMS). Transaction processing system (TPS). Decision support system (DSS). Enterprise resource planning (ERP) system. Which of the following is a critical success factor in data mining a large data store? Pattern recognition. Effective search engines. Image processing systems. Accurate universal resource locator (URL). If complete segregation of duties ...
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