Which of the Following Is True

question 49

Multiple Choice

Which of the following is true?

• A)The REA model can store non-financial data and financial data.
• B)The ER model can store only financial data.
• C)The REA model can store only non-financial data.
• D)The ER model can store non-financial data or financial data,but not at the same time.

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Definitions:

Endorses

Supports or approves of something or someone.

Financial Records

Documents that contain detailed information about the financial activities and position of an individual or organization.

Monthly Statement

A detailed report sent monthly, summarizing financial transactions, balances, and other relevant information for a specific account.

Reconciliation

A comparison of the office’s financial records with bank records to ensure that they are consistent and accurate; usually done when the monthly checking account statement is received from the bank.