Concerning REA Models,which of the Following Is False

question 59

Multiple Choice

Concerning REA models,which of the following is false?

• A) Many financial statement accounts are represented as resources in the REA model.
• B) Accounts such as Accounts Receivable show up as entities in the REA model.
• C) Some accounts represent an imbalance between two related events in the REA model.
• D) Much of the information about an organization's assets that is traditionally recorded in ledgers is stored in resource tables in an REA-based relational database.

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Definitions:

Stalagmites

Mineral formations that rise from the floor of a cave due to the accumulation of material deposited by dripping water from the ceiling.

Karst Topography

A landscape formed from the dissolution of soluble rocks such as limestone, dolomite, and gypsum, characterized by underground drainage systems with sinkholes, caves, and disappearing streams.

Steep Pillars

Tall, vertical rock formations resulting from the erosion of surrounding softer material, often seen in high-gradient areas.

Tropical

Relating to or characteristic of the tropics, typically hot and humid climate zones between the Tropic of Cancer and the Tropic of Capricorn.