The Earliest Type of Business Information System Developed in the 1950s

question 75

Multiple Choice

The earliest type of business information system developed in the 1950s was the _____.

• A) transaction processing system
• B) enterprise resource planning system
• C) decision support system
• D) e-commerce system

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Definitions:

Collection Policy

A set of guidelines and procedures followed by a business to collect accounts receivable or outstanding debts from clients or customers.

Collection Policy

A collection policy outlines the procedures a company uses to collect accounts receivable, including timelines, communication strategies, and actions for overdue payments.

Accounts Receivables

The amount of money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Payables Policy

A company's set of guidelines or practices for managing its accounts payable, including terms of payment and prioritizing of payments.