Which of the Following Statements About Information Processing Activities Is

question 69

Multiple Choice

Which of the following statements about information processing activities is not correct?

• A) Capturing transaction data in machine-readable form reduces error input data.
• B) File maintenance is a nonroutine process in which changes are made to a master file through direct intervention by a user.
• C) Typical master file maintenance changes are updating account balances, deleting unwanted records, and adding new records to a file.
• D) The basic types of processing are classification, comparison, summarization and calculation.

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Definitions:

Imputed Interest

The assumed interest rate used by the IRS for tax purposes on loans with little or no interest, to ensure that tax is collected on essentially interest-free loans.

Call Provision

A clause in a bond's contract that allows the issuer to redeem the bond before its maturity date under specific conditions.

Retire Bonds

The process of paying off or redeeming bonds before or at maturity to eliminate debt obligations.

Investing

The act of allocating resources, often money, in the hope of generating an income or profit in the future.