Question

The purpose of the Transaction Processing System includes all of the following except?

1) converting economic events into financial transactions
2) recording financial transactions in the accounting records
3) distributing essential information to operations personnel to support their daily operations
4) measuring and reporting the status of financial resources and the changes in those resources

Answer 1

The purpose of the Transaction Processing System (TPS) includes converting economic events into financial transactions, recording financial transactions in the accounting records, distributing essential information to operations personnel to support their daily operations, and measuring and reporting the status of financial resources and the changes in those resources.

Step-by-step explanation:

The purpose of the Transaction Processing System (TPS) includes converting economic events into financial transactions, recording financial transactions in the accounting records, distributing essential information to operations personnel to support their daily operations, and measuring and reporting the status of financial resources and the changes in those resources.