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:

Profit-Maximizing

A strategy or approach aimed at achieving the highest possible profit from business operations.

Positive Profits

A financial gain that occurs when the revenues generated from business activities exceed the costs and expenses involved in operating the business.

Shut Down

A short-term decision by a firm to cease production due to unfavorable market conditions.

Firm

An entity like a corporation, partnership, or sole proprietorship engaged in selling goods or services for financial gain.