Data Stored in Transaction Processing Systems Is Rarely Used to Source

question 72

True/False

Data stored in transaction processing systems is rarely used to source the data and information contained in decision support and executive information systems.

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Definitions:

Fair Value Approach

An accounting method that measures assets and liabilities at estimates of their current market value rather than historical cost.

Quoted Prices

The prices of securities that are publicly listed and available for investors to buy and sell.

Active Markets

Markets where transactions for assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 1 Input

denotes the highest-quality and most transparent valuation inputs for financial reporting, such as quoted prices in active markets for identical assets or liabilities.