The purpose of the Transaction Processing System includes all of the following except
A) converting economic events into financial transactions
B) recording financial transactions in the accounting records
C) distributing essential information to operations personnel to support their daily operations
D) measuring and reporting the status of financial resources and the changes in those resources

Question

Quizplus · Accepted Answer

The purpose of the Transaction Processing System (TPS) is to convert economic events into financial transactions, record those transactions in the accounting system, and distribute essential information to operations personnel to support their daily operations. The TPS does not measure and report the status of financial resources and the changes in those resources- this is the role of financial reporting systems such as the General Ledger system.

The Purpose of the Transaction Processing System Includes All of the Following