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:

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task.

Test-Market

A process used by companies to evaluate the viability of a new product or service in a limited geographic area before a wide-scale launch.

Duration

The length of time something lasts or continues.

Foreign Limited Liability Company

A limited liability company (LLC) that is registered in one state but conducts business in another state.