What Are the Three Database Essentials an Accounting Professional Needs

question 26

Essay

What are the three database essentials an accounting professional needs to know? Define and provide an example of each.

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Definitions:

Defective

Refers to a product, item, or component that fails to meet the quality standards or has faults, rendering it unfit for its intended purpose.

Probability

A measure of how likely it is that some event will occur; a number between 0 and 1.

Traffic Accidents

Incidents involving vehicles on public roads that result in damage, injury, or loss of life.

Poisson Distributed

A description of a distribution pattern that applies to events with a fixed interval of time or space, denoting the probability of a given number of events happening in a fixed interval.