Which of the following sequence of steps is used by the TPS in processing a transaction?

Data entry, Data validation, Processing and revalidation, Storage, Information, Reporting

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Data analysis, Data validation, Processing and revalidation, Storage, Information, Reporting

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Data entry, Data validation, Storage, Information, Reporting, Processing and revalidation

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Data entry, Data validation, Processing and revalidation, Information, Reporting, Storage

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Solution

The correct option is A Data entry, Data validation, Processing and revalidation, Storage, Information, Reporting
When the purchase department purchases materials from a supplier, an external transaction take place. The scope of financial accounting is confined to external transactions only. TPS involves following steps in processing a transaction: Data entry, Data validation, Processing and revalidation, Storage, Information, Reporting.

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