Systems Designed to Manage Volatile Transaction Data Are Called _________________________

question 15

Multiple Choice

Systems designed to manage volatile transaction data are called _________________________.

• A) Volatile data management VDM) systems
• B) Online transaction processing OLTP) systems
• C) Online analytical processing OLAP) systems
• D) Transaction analysis TA) systems

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Definitions:

Fair Value

The estimated market value of an asset or liability, reflecting the amount at which it could be exchanged between willing parties.

Historical Cost

The original monetary value of an asset or investment at the time of its purchase or acquisition.

Representationally Faithful

A qualitative characteristic of financial information that ensures the reported data accurately reflects the economic transactions and events.

Going Concern Assumption

The Going Concern Assumption is an accounting principle that assumes a company will continue to operate and not go bankrupt or be liquidated in the foreseeable future.