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Which of the Following Is Not True of Data Repositories

question 23

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Which of the following is not true of data repositories?


Definitions:

Transaction

A financial event that changes the value or composition of a company's assets, liabilities, or equity.

Journal

A chronological record of all financial transactions, used to transfer information to a company's general ledger.

Accounts

Financial records that track the income, expenses, assets, liabilities, and equity of an individual or organization, forming the basis for financial reporting.

Transaction Effects

The impact of business transactions on the financial statements, including assets, liabilities, and equity.

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