Match the Following Transaction Processing Systems to the Activities

question 68

Multiple Choice

Match the following transaction processing systems to the activities.
-accounts payable

• A)record transactions
• B)reduce the number of items in stock
• C)print employee paychecks
• D)buy new stock from vendors
• E)record what customers owe
• F)print a check for a vendor
• G)summarize monthly income and expenses

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Definitions:

Purchase Accounting

An accounting method used in mergers and acquisitions to consolidate the financial statements of the buying and acquired companies.

Fair Market Value

An estimate of the market value of an asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.