The Use of Employee Prepared Time Cards and the Entering

question 10

Multiple Choice

The use of employee prepared time cards and the entering of the time worked by the payroll department is a good example of which type of input method for AIS?

• A)EDI
• B)Bar Coding
• C)Point of Use System
• D)Source Documents and Keying

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Definitions:

Rule of 70

A simple way to estimate the number of years it will take for an investment to double in size, calculated by dividing 70 by the annual rate of growth.

Interest

The cost of borrowing money, expressed as a percentage, paid by the borrower to the lender for the use of the lender's money.

Present Value

Today's value of a future monetary amount or cash flow series, calculated with a designated rate of return.

Interest Rate

The cost of borrowing money or the return on investment for savings, usually expressed as a percentage.