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Class 11
Accountancy
Applications of Computers in Accounting
name three components of a transaction processing...

Question:
Name three components of a Transaction Processing System.

Answer:

The following are three main components of a Transaction Processing System (TPS):

(a) Input: A computerised accounting system accepts the complete transaction data as input through the process of data collection, data editing, data validation and data manipulation.

(b) Storage: The system stores the inputted data in computer storage media such as hard disk.

(c) Output: The stored data, through the process of report generation and query support can be retrieved and processed as and when required for generating an accounting report as output.

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Popular questions of class 11 Accountancy

Mr. Sunrise started a business for buying and selling of stationery with ₹ 5,00,000 as an initial investment. Of which he paid ₹ 1,00,000 for furniture, ₹ 2,00,000 for buying stationery items. He employed a sales person and clerk. At the end of the month he paid ₹ 5,000 as their salaries. Out of the stationery bought he sold some stationery for ₹ 1,50,000 for cash and some other stationery for ₹ 1,00,000 on credit basis to Mr. Ravi. Subsequently, he bought stationery items of ₹ 1,50,000 from Mr. Peace. In the first week of next month there was a fire accident and he lost ₹ 30,000 worth of stationery. A part of the machinery, which cost ₹ 40,000, was sold for ₹ 45,000.

From the above, answer the following :
1. What is the amount of capital with which Mr. Sunrise started business?
2. What are the fixed assets he bought?
3. What is the value of the goods purchased?
4. Who is the creditor and state the amount payable to him?
5. What are the expenses?
6. What is the gain he earned?
7. What is the loss he incurred?
8. Who is the debtor? What is the amount receivable from him?
9. What is the total amount of expenses and losses incurred?
10. Determine if the following are assets, liabilities, revenues, expenses or none of the these: sales, debtors, creditors, salary to manager, discount to debtors, drawings by the owner.

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(c) A ..................... would most likely use an entities financial report to determine whether or not the business entity is eligible for a loan.
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(e) ..................... users are groups outside the business entity, who uses the information to make decisions about the business entity.
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(i) If a firm believes that some of its debtors may ′default′, it should act on this by making sure that all possible losses are recorded in the books. This is an example of the ___________ concept.
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(vii) The management of a firm is remarkably incompetent, but the firms accountants can not take this into account while preparing book of accounts because of ________ concept.

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Question:
Name three components of a Transaction Processing System.

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Question:
Name three components of a Transaction Processing System.