Chapter 5 Key Terms

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Business/Economics Flashcards on Chapter 5 Key Terms, created by MacKenzie Burch on 07/09/2022.
MacKenzie Burch
Flashcards by MacKenzie Burch, updated more than 1 year ago
MacKenzie Burch
Created by MacKenzie Burch about 2 years ago
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Question Answer
access controls limit who can use & change records in the system
accounts receivable Amounts owed by customers for prior sales of goods or services. Calculated as each customer's sales less corresponding cash receipts.
agents People or organizations (customers & salespeople) who participate in business events
application controls Specific to a subsystem or application to ensure the validity, completeness, and accuracy of a transaction
cash The amount of money in the bank or related accounts for the organization.
cash receipts Record receipts of cash from external agents (customers) and the corresponding deposit of those into cash accounts.
choreography The science of examining raw data, removing excess noise from the data set, and organizing the data with the purpose of drawing conclusions for decision making.
collaboration A BPMN model showing two participant pools and the interactions between them within a process.
customer The external agent in the sales and collection process is called ____.
error event An intermediate event in BPMN model showing processing for exceptions to the normal process flow.
events UML: Classes that model the organization's transactions, using affecting its resources BPMN: important occurrences that affect the flow of activities in a business process
many-to-many relationship Relationship that exists when instances of one class are related to many instances of another class and vice versa.
one-to-many relationship Relationship that exists when instances of one class are related to multiple instances of another class.
orchestration BPMN: the sequence of activities within one pool
product class representing the organization's goods held for sale, or inventory.
quote Description of the products/services to be provided to a customer if ordered.
REA Resource-event-agent framework for modeling business processes. Developed by William McCarthy.
resources Things that have economic value to a firm.
sales Events documenting the transfer of goods/service to customers and the corresponding recognition of revenue for the organization.
sales order Event documenting commitments by customers to purchase products. Precedes the sale.
subprocess Represents a series of process steps that are hidden from view in BPMN. Helps to reduce complexity in modeling.
type image Class that represents management info to help manage a business process. Often allows process info to be summarized by category.
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