In a Database Created Using an REA Model,the Bill of Materials

question 58

Multiple Choice

In a database created using an REA model,the Bill of Materials entity is most analogous to

• A)the "bill" that can be sent to the customer who order the finished good(s).
• B)the "recipe" needed to produce the finished good(s).
• C)the "receipt" for the purchase of specific raw materials.
• D)the "audit trail" that can be used to verify a finished good(s)was actually produced.

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Definitions:

Inelasticities

A measure of the sensitivity, or lack thereof, of one variable to a change in another variable, typically used in economics to describe situations where changes in price have little to no effect on supply or demand.

Tax Burden

The total amount of taxes paid by individuals or businesses relative to their income, often analyzed to assess the impact of taxation on economic behavior.

Tax

A necessary financial obligation or other form of tax exacted from a taxpayer by a state institution with the aim of covering government expenses and various public financial needs.

Higher Prices

An increase in the cost of goods or services.