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Questions and Answers
What is the purpose of a business system?
To help business organizations achieve their goals.
Which of the following is NOT an objective of a business system?
A payroll system handles all forms, procedures, files, equipment, personnel, and computer support necessary to completely process the payment of __________.
employees
Which of these is a type of business system?
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What does an accounts receivable system do?
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An accounts payable system monitors the organization to which money is owed.
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What is the main function of an inventory system?
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Study Notes
Business System Overview
- A business system helps organizations achieve their goals by coordinating policies, personnel, equipment, and computer facilities
- It defines how data is handled, processed, and controlled
- It reflects the efficiency of its designers
Objectives of Business System
- Meeting user and customer needs
- Reducing operating costs and increasing savings
- Smoothing data flow through the organization
- Speeding up results execution using reliable data
- Efficient data handling and timely information for management
- Optimizing distribution of data, services, and equipment
- Defining a proper method for handling business activities
- Eliminating duplicate, conflicting and unnecessary services
Types of Business Systems
- Payroll Business System: Handles employee payment processing, tax deductions, salary updates, and generating tax documents like paychecks, W-2 statements, and quarterly reports
- Personnel Business System: Describes various aspects of an organization's workforce and generates reports for labor power
- Accounts Receivable System: Monitors money owed to the organization, processes credit card transactions, and provides customer statements
- Accounts Payable System: Monitors money owed by the organization to vendors, processes payments, and generates management reports
- Inventory System: Monitors the status of items in inventory, reports quantities on hand, and determines replenishment needs
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Description
Test your knowledge on business systems, their objectives, and types. This quiz covers essential concepts like data handling, operational efficiency, and specific business systems such as payroll. Prepare to assess your understanding of how these systems support organizational goals.
