Concerning REA Diagrams for Individual Transaction Cycles,which of the Following

question 22

Multiple Choice

Concerning REA diagrams for individual transaction cycles,which of the following is false?

• A) They depict basic give-to-get economic duality relationships.
• B) They usually provide only a partial view of resources.
• C) They need to be combined in order to provide a comprehensive enterprise-wide data model.
• D) They show both how resources are acquired and how they are used.

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Definitions:

Acceptance

A key factor in the agreement element of a contract; consists of the agreement of one party, the offeree, to the terms of the offer in the contract made by the other party, the offeror.

True Value

The actual, intrinsic value of an asset, investment, or property, considering all underlying factors.

Commingled Fungible Goods

Items that are interchangeable with others of the same type, which have been mixed or blended, making individual properties indistinguishable.

Contributing Parties

Entities or individuals that contribute resources, information, or efforts towards a common project, goal, or agreement.