The Only Reason(s)for Having Relations Is to ________

question 8

Multiple Choice

The only reason(s) for having relations is to ________.

• A)store instances of functional dependencies
• B)store equation components
• C)store equation results
• D)Both B and C are correct

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Definitions:

Liabilities

Economic obligations or debts that a business owes to external parties, which must be settled over time through the transfer of economic benefits.

Accrual Basis Accounting

A method of accounting that records revenues when earned and expenses when incurred, regardless of when cash is exchanged.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Normal Balance Side

Normal Balance Side is the side (debit or credit) of an accounting ledger on which increases to the account are recorded, depending on the account type.