Inputs to Transaction Processing Systems

question 16

Multiple Choice

Inputs to transaction processing systems:

• A)Are best when input in a graphical format
• B)May be in an electronic format when an EDI system is used
• C)May never be audio

Identify the correct method of recording sales and the use of the MasterCard or VISA in accounting.

Comprehend the different components of the income statement and their relationship with net income.

Understand the basic differences between merchandising and service businesses in terms of financial statements.

Comprehend how to calculate gross profit and operating income.

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Definitions:

Analytical

Pertaining to the systematic examination and evaluation of data or information, often by breaking it into its component parts to uncover their interrelationships.

Destructive

Causing great and irreparable harm or damage.

Closed Society

A society that is isolated from others and often restrictive in terms of its social, cultural, or political life.

Free Flow of Information

The unrestricted exchange or transmission of data, facts, and ideas.