Online Transaction Processing (OLTP) Systems Are the Backbone of All

question 75

True/False

Online transaction processing (OLTP) systems are the backbone of all cross-functional systems in a company.

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Definitions:

Actual Costs

The real expenditure incurred in the manufacturing or production of goods and services, as opposed to estimated costs.

Standard Costs

Predetermined or estimated costs of manufacturing, selling, or performing a service, used as benchmarks against actual costs for budgetary control and performance measurement.

Price Variances

Differences between the actual prices paid for goods or services and the expected or standard prices.

Quantity Variances

The difference between the expected amount of inputs needed for production and the actual amount used, often analyzed in cost accounting to assess efficiency.