There Are Two Modes of Processing Transactions in Accounting Systems

question 64

Multiple Choice

There are two modes of processing transactions in accounting systems.The mode that requires all similar transactions be grouped together and be processed at the same time, is referred to as:

• A)Batch Processing
• B)Online Processing
• C)Real-time Processing
• D)Sequential Processing

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Definitions:

Progressive Tax Structure

A tax system in which the tax rate increases as the taxable amount or income increases, imposing a higher percentage rate on higher income earners.

Policy Makers

Individuals or groups responsible for creating and implementing policies and decisions in governmental or organizational settings.

Proposal

A formal suggestion or plan, typically detailed in a document, outlining a course of action or project.

Excise Tax

A tax imposed on specific goods, services, or transactions, often with the goal of discouraging their consumption or generating revenue.