The REA Data Model

question 55

Multiple Choice

The REA data model

• A)is used in many areas of business and science.
• B)was developed specifically for use in designing accounting information systems.
• C)classifies data into relationships,entities and accounts.
• D)is a graphical technique for portraying a database schema.

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Definitions:

Marginal Product

The additional output generated by adding one more unit of a specific input, holding other inputs constant.

Labor

The human effort, physical or mental, used in the production of goods and services.

Marginal Product

The additional output resulting from one more unit of a given input, holding all other inputs constant.

Total Output

The total amount of goods and services produced by an economy or firm in a specific period.