Where Is Information Traditionally Found in Journals Stored in an REA

question 25

Multiple Choice

Where is information traditionally found in journals stored in an REA database?

• A)Agent
• B)Event
• C)Relationship
• D)Resource

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Definitions:

FIFO vs. LIFO

Accounting methods for valuing inventory; First In, First Out (FIFO) and Last In, First Out (LIFO) affect the cost of goods sold and inventory valuation.

Economic Value Added

A measure of a company's financial performance based on the residual wealth calculated by deducting cost of capital from its operating profit.

Cost of Debt

The effective rate that a company pays on its current debt.

Prospective Capacity

Refers to the expected or future ability of a company or economy to produce goods or services.