AS Applied ICT - Key Terms and Definitions

HideShow resource information

1. What is the Income Statement?

  • Lists the assets, debts and owners' investment at a particular date.
  • Lists the revenue, the expenditure and the net income during a particular period.
  • Summarise the organisations accounts.
1 of 17

Other questions in this quiz

2. Which function is responsible for personnel systems?

  • HR
  • Accounts and Finance
  • Sales

3. Why does the sales system have links with the stock control system?

  • So that items sold can be deducted from stock levels and staff have the most up to date information.
  • So they know when to buy more stock.
  • So that they can arrange meetings to discuss the company's accounts.

4. What is bespoke software?

  • Software developed specifically for an organisation.
  • Software that is bought off the shelf.
  • A spreadsheet.

5. What is the purpose of the sales ledger?

  • To notify the organisation of a delivery.
  • Record sales made + money paid in for the goods or services sold.
  • To purchase goods from suppliers.


No comments have yet been made

Similar Applied Information & Communication Technology resources:

See all Applied Information & Communication Technology resources »See all Key Terms resources »