When a transaction occurs there are systematic and defined steps that take place within the organization to complete all of the underlying tasks.These â€œdefined stepsâ€ are referred to as:
A)Business Processes
B)Financial Transactions
C)Accounting Information Systems
D)Customer Service Arenas

Question

When a transaction occurs there are systematic and defined steps that take place within the organization to complete all of the underlying tasks.These â€œdefined stepsâ€ are referred to as:
A)Business Processes 
B)Financial Transactions 
C)Accounting Information Systems 
D)Customer Service Arenas

Quizplus · Accepted Answer

The defined steps that take place within an organization to complete tasks related to a transaction are referred to as business processes. These processes may involve financial transactions and accounting information systems, but the term business processes encompasses all of the underlying tasks necessary for completing a transaction. Customer service arenas may be a part of the overall business processes, but they do not encompass all of the necessary steps involved in completing a transaction.

When a Transaction Occurs There Are Systematic and Defined Steps