Final answer:
When collecting and processing transaction data, documents and procedures such as surveys and government data collection are used. The information is also cross-checked with other available data to ensure accuracy.
Step-by-step explanation:
When collecting and processing transaction data, various documents and procedures are used. One example is conducting surveys to collect data. For instance, at a local supermarket, you can ask people leaving for the total amount on their grocery receipts or ask cashiers for the last few amounts. Additionally, government agencies like the Census Bureau collect import and export documents, along with surveys on transportation and travel, to compile monthly records.
Another source of data comes from cross-checking information with other available data. The Census Bureau collects data from the shipping industry to verify trade in goods, and financial reports filed by banks and companies are compiled by the U.S. Department of the Treasury. Furthermore, data collected by other countries and international organizations can also be used to cross-check foreign trade data.
By combining these various data sources and procedures, accurate transaction data can be collected and processed.