The REA Data Model

question 11

Multiple Choice

The REA data model

• A) is used in many areas of business and science.
• B) was developed specifically for use in designing accounting information systems.
• C) classifies data into relationships, entities and accounts.
• D) all of the above

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Definitions:

Entry-Deterring Price

A strategy involving setting prices low enough to prevent new competitors from entering the market.

Payoff Matrix

A table that displays the potential outcomes and associated payoffs for each player in a game, given the different strategies each player can choose.

Simultaneously

Occurring at the same time as something else.

Sequential Version

Refers to a method or process that follows a specific order or sequence.