Answer: A Transaction Processing System (TPS) is a type of information system that collects, stores, modifies and retrieves the data transactions of an enterprise. Rather than allowing the user to run arbitrary programs as time-sharing, transaction processing allows only predefined, structured transactions.
Three cycles: Transaction processing systems generally go through a five-stage cycle of 1) Data entry activities 2) Transaction processing activities 3) File and database processing 4) Document and report generation 5) Inquiry processing activities.
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