In the REA Framework, Which of These Would Be Recorded

question 100

Multiple Choice

In the REA framework, which of these would be recorded as an "event?"

• A)Hiring a new president of the company
• B)Taking an initial sales order from a customer
• C)Buying a piece of equipment for cash
• D)all of these would be recorded as events

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Definitions:

Market

A venue or mechanism through which buyers and sellers interact to trade goods, services, or financial instruments.

Tax

A compulsory financial charge or levy imposed by a government on individuals or entities to fund public expenditures.

Tax Per Unit

A fixed amount of tax imposed on each unit of a product or service sold.

Tax Burden

The measure of the financial impact of taxes on an individual or entity, often expressed as a percentage of income or revenue.