a. Is transaction processing more closely related to accounting or bookkeeping? Explain your response.
b. What does it mean to say RKR's chart of accounts is "block coded?" What other coding systems are available, and when might they be most appropriately used?
c. How should RKR maintain strong internal control over its transaction processing activities?
d. Suggest three to five transactions RKR would need to record on a routine basis. Indicate which accounts would be debited and credited for each transaction.