Question

A control report generated by a system that shows data about transactions that were accepted or rejected during a transaction processing step is called a(n):

a) Violation report
b) Exception and summary report
c) Variance report
d) Program change log

Answer 1

Correct Option is B) .An exception and summary report is the name given to a control report that includes details on transactions accepted or rejected during transaction processing.

Step-by-step explanation:

A control report generated by a system that shows data about transactions that were accepted or rejected during a transaction processing step is called a exception and summary report. These reports are crucial in managing and reviewing the processing of transactions as they provide detailed insight into the transactions that have deviated from the established norms or criteria (hence the term 'exception'). The report not only captures the outliers but also summarizes the data, offering a quick overview of the transactional activities over a given period. This report helps identify any anomalies or issues that occurred during the transactions and provides a summary of the accepted and rejected transactions.