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BUAD 342 - Exam 1 Questions and Answers Latest Update 100% Correct.
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What are the common file types used to store business data? - ️️master file transaction file history file reference file suspense file Examples of For Profit: - ️️manufacturers service providers retailers/distributers agricultural/mining financial utilities real estate transport...

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  • September 22, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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BUAD 342 - Exam 1
What are the common file types used to store business data? - ✔️✔️master file
transaction file
history file
reference file
suspense file

Examples of For Profit: - ✔️✔️manufacturers
service providers
retailers/distributers
agricultural/mining
financial
utilities
real estate
transportation/logistics


Name and describe the four common business events for the business process Order to
Cash. - ✔️✔️1) provide a quote to the customer (and other forms of marketing and
customer service)
2) negotiate a sales order with a customer (a pre-sale event)
3) deliver goods or services to the customer (the sale)
4) receive payment for goods/services from the customer

How is a business event related to a business process? - ✔️✔️By analyzing business
events, we can more easily identify the data needs of a business process.

Name and describe the three core interdependent business processes that are common
to all organizations. - ✔️✔️Procure to Pay (selling)
Order to Cash (buying)
Conversion (making)


Name and describe the four common business events for the business process Procure
to Pay. - ✔️✔️1) identify a need for goods or services (including monitoring inventory
levels) and possibly request purchase
2) negotiate a purchase order with a vendor (a pre-sale purchase event)
3) receive goods/services from a vendor (the purchase)
4) pay a vendor for goods/services

, Why do organizations perform business processes? - ✔️✔️to reach strategic business
goals

Name and describe some common business events for the business process
Conversion. - ✔️✔️- assembling a product
- growing a crop
- transforming knowledge into valued intellectual property
- steps in educating or training
- discovering (e.g. research and development activities)

Business Process - ✔️✔️collections of related activities that combine different
resources and inputs to create valuable outputs (including products or services)

Business Event - ✔️✔️activities performed within a business process

Decomposition (decompose processes) - ✔️✔️the way that business processes are
simplified

break down processes into pieces called events

Economic Event (a business process event) - ✔️✔️the transfer of control of an
economic resource from one party to another

For Profit Organizations - ✔️✔️generating a profit is the primary objective


Not for Profit Organizations - ✔️✔️providing a service is typically the primary objective

Examples of Not for Profit: - ✔️✔️government
schools
charities

Order to Cash Business Process - ✔️✔️(selling) delivering goods and services to
customers and collecting payment

Procure to Pay Business Process - ✔️✔️(buying) acquiring and paying for resources

Conversion Business Process - ✔️✔️(making) converting resources into goods and
services for consumers

Outsourcing - ✔️✔️a company seeking resources from outside of their organization for
a part of production from other companies or contractors who specialize in those
activities

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