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What are monetary transactions?
Most transactions recorded by the system are monetary transactions, where the units involved make or receive payments, or incur liabilities or receive assets denominated in units of currency. Transactions that do not involve the exchange of cash, or assets or liabilities denominated in units of currency, are non-monetary transactions. Intra-unit transactions are normally non-monetary transactions. Non-monetary transactions involving more than one institutional unit occur among transactions in products (barter of products), distributive transactions (remuneration in kind, transfers in kind, etc.) and other transactions (barter of non-produced non-financial assets). The system records all transactions in monetary terms. The values to be recorded for non-monetary transactions must therefore be measured indirectly or otherwise estimated. hope this helps?
Why do transactions disappear and then reappear?
Transactions can disappear and reappear due to temporary technical issues or delays in processing. This can happen when there are glitches in the system or when transactions are being verified by multiple parties.
What are the four basic questions that a transaction processing system audit tries to answer?
Are transactions processed accurately? Are transactions processed completely? Are transactions processed in a timely manner? Are transactions processed securely, with appropriate controls in place?
Is traditional economic system controlled by government?
NO. In a traditional economic system, the government does not involve itself with transactions, primarily since the barter system makes it difficult for the government to monitor transactions.
What is the standard system used to record transactions?
chart of accounts
How many online transactions at system.security occur each day?
I do not have access to real-time or specific data on the number of online transactions at system.security. The volume of transactions can vary widely depending on the system's usage and purpose, so you may need to consult the system administrator or relevant data sources for this information.
How does the POS system integrate credit card processing for seamless transactions?
The POS system integrates credit card processing by connecting to a payment gateway that securely processes credit card transactions. This allows customers to pay with their credit cards directly at the point of sale, ensuring seamless and efficient transactions.
Which information system answers routine about business transactions?
transaction processing system
How can you justify that accounting is an information system?
Accounting itself is a systematic recording of transactions that occur in a business. It's the process of summarizing and reporting those transactions in financial statements. Accounting in itself is start of an information system.
Under system only cash transactions are recorded in the books of accounts?
single entry system
What information system answers routine questions about daily business transactions?
transaction proccessing system
Which information system answers routine questions about daily business transactions?
transaction processing system
