Which of the following statement(s) is/are correct regarding batch transaction…

Batch transaction processing groups transactions and executes them together at scheduled runs, instead of acting on each one continuously as it arrives. That single design choice drives two things at once: the database is updated only once the accumulated batch actually executes, and running everything in one grouped pass — instead of maintaining an always-available real-time system — keeps the running cost low.

1. Statement I says the database is updated when the transaction is processed. That is exactly how batch processing behaves: the update lands at the point the accumulated batch is executed, not through some separate continuous channel. So statement I holds.

2. Statement II says the associated cost is very high. Batch processing is valued for the opposite reason — grouping work into one scheduled run avoids the need for continuously available real-time infrastructure, so the running cost is comparatively low, not high. So statement II does not hold.

3. Statement III says reports are required only at a scheduled interval. Since the underlying processing itself happens only at the scheduled run, any report drawn from that processed data is likewise available only at that same interval. So statement III holds.

• Only II fails because it reverses the cost trait, calling batch processing’s running cost "very high" when it is low, while also leaving out the update-timing statement that batch processing does satisfy.

• Only III fails because it leaves out the update-timing statement, even though batch processing's database update genuinely happens at the point the batch is processed.

• I and II fails because, while it keeps the update-timing statement, it also asserts the high-cost claim, which reverses batch processing's actual cost advantage.

Hence statements I and III are correct, and the correct option is "I and III".