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Question
Name three components of a Transaction Processing System.
Answer in Brief
Solution
The computerized system that records, processes, validates, and saves the daily transactions that occur daily is referred to as a transaction processing system.
The following are the three components of a Transaction Processing System:
- Input: This is the mechanism that accepts the data from the entire transaction as input. This can be accomplished by the acquisition of data, modification of data, validation of data, and manipulation of data processes. It's worth noting that transactions that aren't completed aren't considered input.
- Data storage: The computerized system is in charge of storing processed data in storage devices like hard discs.
- Output: This refers to the data being presented in the form of a report as an output.
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Evolution of Computerised Accounting
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