Identify the Item Below That Would Be Classified as an Agent

question 16

Multiple Choice

Identify the item below that would be classified as an agent by the REA data model.

• A)An IOU from a customer.
• B)The customer.
• C)A customer sale.
• D)A loan from a vendor.

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Definitions:

Dollar-Pound Exchange Rate

The rate at which the currency of the United States can be exchanged for the currency of the United Kingdom.

Central Bank

The primary financial institution of a country, responsible for regulating the money supply, issuing currency, and managing the nation's monetary policy.

Reserves

Reserves are funds or materials set aside or saved for future use or to cover unexpected emergencies, often used in financial, resource, or energy sectors.

Equilibrium Exchange Rate

The exchange rate at which the demand for a currency is exactly equal to its supply in the foreign exchange market.