The First Step of the Transaction Processing Cycle Is _______________

question 23

Multiple Choice

The first step of the transaction processing cycle is _______________.

• A) inquiry processing
• B) document generation
• C) transaction processing
• D) data entry

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Definitions:

Mixed Costs

Costs with both variable and fixed characteristics, sometimes called semivariable or semi-fixed costs.

Variable Components

Parts of a cost or expense that change in proportion with changes in the level of business activity or production volume.

Fixed Components

The elements of a business's costs that remain constant regardless of the level of production or sales activity.

Contribution Margin

The amount by which sales income exceeds variable expenses, which is utilized to pay off fixed expenses and create profit.