Final answer:
A group of similar transactions accumulated and processed together is known as a 'batch'. Batch processing helps in efficiently managing resources and is used in different business and computing scenarios.
Step-by-step explanation:
A group of similar transactions that are accumulated over time and then processed together is commonly referred to as a batch. Batch processing is a cost-effective way of handling large volumes of similar transactions because it allows for the efficient use of resources by grouping similar activities.
An example can be found in the way ballots from an election are organized. As in the illustration provided, ballots which represent a form of data in an election - are rolled together with similar ballots to maintain organization.
This is analogous to the batch processing method used in various business and computing contexts, where numerous similar transactions or processes are accumulated and then processed collectively at a set time, rather than immediately as they occur.
Batch processing is a group of similar transactions that are accumulated over time and then processed together. It is a common method used in business to handle large amounts of data efficiently. For example, in accounting, financial transactions like sales, expenses, and payroll can be collected over a period of time and processed in batches at the end of the month.
This method allows businesses to streamline their operations, reduce costs, and improve productivity. It also helps in error checking and ensures data consistency. Batch processing is often used in computer systems and databases to perform tasks such as data backup, software updates, and data analysis.