1. What is Internet?

An international network of independently owned computers that operate as a giant, seamless

computing network. No one owns it and no signal organization controls its use.
2. What are intranets?
An internal network that can connect to the main Internet and be navigated with simple
browser software. It is usually closed to the general public.
3. hypertext markup language: HyperText Markup Language (HTML) is a computer language used
to create Web pages. A protocol which include "tags" that are used to encode and format text,
graphics, animation, sound, and other types of files on the World Wide Web.
4. What is electronic data interchange? Why do companies use EDI?
The use of computerized communication to exchange business data electronically in order to
process transactions.
Electronic data interchange (EDI) is the electronic exchange of business information—
purchase orders, invoices, bills of lading, inventory data and various types of
confirmations—between organizations or trading partners in standardized formats. EDI
also is used within individual organizations to transfer data between different divisions or
departments, including finance, purchasing and shipping. When the focus of EDI centers
on payments, especially between banks and companies, the term financial EDI (FEDI) is
sometimes used. Along with digital currency, electronic catalogs, intranets and extranets,
EDI is a major cornerstone of e-commerce overall.
5. Name five dimensions of data quality and explain each briefly.
a. Timeliness- Did it gets there when needed.
b. Currency- Is it up-to-date.
c. Reliability- Is it reliable.
d. Accuracy- How accurate is it?
e. Relevancy- How relevant, connected, or applicable something is to a given matter.
6. Name three types of databases and explain each briefly.
Analytical Databases
The information stored in analytical databases is mostly extracted from operation databases or
external databases. This is mostly screened and edited data which is mostly used by the
management of the organization. It is expressed as a summary of the organization's or
employee's performance or sales, marketing records etc. The main purpose of analytical
database is to allow the user to analyze the data, depending upon which a management policy
can be formulated.
Operational Databases
Operational databases are the ones in which information needed for the operations of an
organization is stored. This is mostly a detailed information about a particular person,
department or subject. Therefore, they are also called as subject-area databases (SADB).
Distributed Databases
Distributed databases are the databases of an organization that are distributed at various
geographic locations. The database can be either common to all the sites or it may be specific to
that local site only. Distributed databases are remotely accessed from the respective local site.

7. Function of DBMS: DBMS is an application that is used to manage & maintain Databases.
8. Data and information: Data are a set of collected numbers, words, anything. They do not mean
anything until they are organised, arranged or developed. Once that happens information is
obtained.
Information is data that have been organized and processed to provide meaning to a user.
9. Data manipulation language: A database management system languages that is used to update,
replace, store, retrieve, insert, delete, sort, and otherwise manipulate the records and data
items stored in the database.
10. Schema: A description of the types of data elements that are in the database, the
relationships among the data elements, and the structure or overall logical model used to
organize and describe the data.
11. Data as discussed in class: Data is a row material. Data is factual information (as
measurements or statistics) used as a basis for reasoning, discussion.
12. Components of DBMS: They are the Data, users/people, procedure, hardware and software.
13. Signals: There are dozens of types of signals but two major categories are digital and analogue.
Analog signals are continuous where digital signals are discrete. Anolog signals are continuously
varying where digital signals are based on 0's and 1's (or as often said------- on's and off's)
1) Audit Trail Important: Using an audit trail can often be an effective tool in managing the
financial and other resources of a business or organization. The process of identifying the audit
trail may in fact help to identify steps within the process that were unnecessary and that can be
eliminated in future transactions. Another important application of the audit trail is that the
process can uncover attempts to manipulate the financial profile of the entity, perhaps in an
attempt to cover up the fact that funds are missing or were misappropriated in some manner.
Basically, the audit trail is a helpful device to ensure that transactions are conducted smoothly
and honestly, with the least amount of necessary steps employed in the process.
2) The logical view presents data as they would be perceived by end users or business specialists,
whereas the physical view shows how data are actually organized and structured on physical
storage media.

3) A subsidiary ledger is a group of similar accounts whose combined balances equal the
balance in a specific general ledger account. The general ledger account that summarizes
a subsidiary ledger's account balances is called a control account or master account.
4) A system flowchart explains how a system works using a diagram. The diagram shows
the flow of data through a system. A document flowchart displays the flow of documents
between organizational units.  The chart is divided into several columns separated by vertical
lines.  Each column represents an organizational unit, such as a department, section, or
employee.
5) Adjusting journal entries are usually prepared at the end of an accounting period
to update account balances to reflect correct balances as of the balance sheet date
(the date at the end of an accounting period)
6) Audit Trail: A traceable path of a transaction through a data processing system from
source documents to final output.
7) Defense in depth is about protecting against threats that are already being protected against,
just in case the existing protection fails. This is why there is not merely a lock on your safety
deposit box, but also a lock on the door to the safety deposit box room, and then a lock on the
doors of the bank itself. This is why you wear your seat belt even though the car is equipped
with air bags. This is why factories have multiple safety systems. It's why, when you put away a
gun, you set the safety and remove the ammunition and lock the gun case.
8) Encryption is the conversion of data into a form, called a ciphertext, that cannot be easily
understood by unauthorized people. Decryption is the process of converting encrypted data
back into its original form, so it can be understood.
9) Symmetric encryption is fast but not as safe as asymmetric encryption because someone could
intercept the key and decode the messages. But because of its speed, it's commonly used for e-
commerce transactions. Asymmetric encryption is more complex--and more secure. Two
related keys are required: a public key and a private key.
10) Managerial accounting is used primarily by those within a company or organization.
Reports can be generated for any period of time such as daily, weekly or monthly.
Reports are considered to be "future looking" and have forecasting value to those within
the company.
Financial accounting is used primarily by those outside of a company or organization.
Financial reports are usually created for a set period of time, such as a fiscal year or
period. Financial reports are historically factual and have predictive value to those who
wish to make financial decisions or investments in a company.
11) Five TELOS: Technology and system feasibility, Economics, legal ramifications,
operational labor, schedule.
12) A trial balance is prepared to check the mathematical/arithmetic accuracy of accounting.
This is the only (main) purpose of the "Trial Balance".
13) A feasibility study is an evaluation of a proposal designed to determine the difficulty in carrying
out a designated task. Generally, a feasibility study precedes technical development and project
implementation. In other words, a feasibility study is an evaluation or analysis of the potential
impact of a proposed project.
14) Michael Porter: Low cost leadership and Differentiation