Examlex
Combining REA diagrams for individual transaction cycles into a single,enterprise-wide model adds two more rules to the three basic principles for drawing REA diagrams.Which of the following is not one of those two new rules?
Cash
Money in the form of coins or banknotes, especially that used to operate a business.
Cash Basis
An accounting method whereby revenues and expenses are recorded when cash is received or paid, rather than when they are incurred.
Accounting
The process of recording, classifying, summarizing, and interpreting financial transactions to provide information that is useful in making business decisions.
Financial Statements
Reports summarizing a company's financial performance and position, including income statement, balance sheet, and cash flow statement.
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