If Transactions Are Entered and Processed Immediately Upon Entry, Then

question 36

Multiple Choice

If transactions are entered and processed immediately upon entry, then the system is operating in

• A) transaction time.
• B) batch mode.
• C) unprotected mode.
• D) online mode.
• E) real time.

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Definitions:

Intermediate Products

Goods used as inputs in the production of other goods, including raw materials, components, and subassemblies.

Market Value

is the amount for which something can be sold in a given market at a particular time.

Final Products

Goods and services that have completed the production process and are intended for final consumption or investment.

Value Added Approach

This is a method for calculating GDP that sums the values added at each stage of production, avoiding the double-counting of intermediate goods.