There Are Two Modes of Processing Transactions in Accounting Systems

question 1

Multiple Choice

There are two modes of processing transactions in accounting systems.The mode that will record transactions, one at a time, is referred to as:

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

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Definitions:

Nonexcludable

A characteristic of a good or service that does not allow the provider to prevent its use by individuals who have not paid for it.

Police Officers

Law enforcement personnel responsible for maintaining public order, preventing and detecting crime, and enforcing laws.

Marginal Cost

The cost of producing one additional unit of a good or service, crucial for optimizing production levels and pricing strategies.

Willingness to Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting the value they attribute to it.