Financial Statements and Data Processing Models
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Questions and Answers

How often do large organizations typically issue financial statements?

  • Annually
  • Monthly
  • Quarterly (correct)
  • Biannually

What allows transactions to be captured immediately?

  • Advances in accounting software
  • Advances in information technology (correct)
  • Advances in data processing models
  • Advances in financial reporting

What can produce financial statements almost in real-time?

  • Business owners
  • Both (a) and (b) (correct)
  • The Accounting Information System (AIS)
  • Accountants

What can a business track continuously?

<p>All of the above (D)</p> Signup and view all the answers

What must the designer consider when selecting a data processing model?

<p>The trade-off between efficiency and effectiveness (B)</p> Signup and view all the answers

What is the main benefit of batch processing over real-time processing for non-critical accounts?

<p>It eliminates unnecessary delays caused by updating non-critical accounts in real-time. (A)</p> Signup and view all the answers

When should real-time processing be preferred over batch processing?

<p>When immediate access to current information is critical to the user's needs. (C)</p> Signup and view all the answers

What can cause significant processing delays in systems handling large volumes of transactions?

<p>Updating non-critical accounts in real-time. (A)</p> Signup and view all the answers

What is true about a single transaction in systems handling large volumes of transactions?

<p>It affects several different accounts. (C)</p> Signup and view all the answers

When can batch processing be considered more efficient than real-time processing?

<p>When time lags in information have no detrimental effects on the user's performance and operational efficiencies can be achieved by processing data in batches. (C)</p> Signup and view all the answers

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