A Transaction Processing System Is a Computer-Based Information System That

question 182

True/False

A transaction processing system is a computer-based information system that provides a flexible tool for analysis and helps managers to focus on the future.

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Definitions:

Time of Settling

The specific point when the obligations of a financial transaction are fulfilled.

Foreign Subsidiary

A company that is based in one country but is controlled by a parent company in another country, operating under the laws and regulations of the country where it is located.

Functional Currency

The currency of the primary economic environment in which an entity operates, usually determining the currency it uses for reporting financial statements.

Exchange Gain

The gain resulting from a favorable change in exchange rates affecting the value of foreign currency transactions.