The Transaction Cycle Approach Yields Efficiencies When Processing of a Large

question 10

Multiple Choice

The transaction cycle approach yields efficiencies when processing of a large number of transactions because

• A)a large number of transactions within a given cycle can be categorized into a relatively small number of distinct types.
• B)transaction cycles are easier to computerize.
• C)the transaction cycle approach represents the natural order of business.
• D)transaction cycles are easy to understand.

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Definitions:

Cross-functional Teams

Groups formed by individuals from various departments or functional areas of a company, collaborating to achieve a shared objective.

Financial Constraints

Limitations on the availability or use of financial resources, affecting an individual's or organization's ability to make decisions.

Different Departments

Units within an organization specialized in distinct operations like marketing, finance, and human resources.

Visionary Organization

An entity guided by a clear, innovative vision for the future, often leading to groundbreaking advancements and leadership in its field.