Which of the Following Is Not One of the Three

question 36

Multiple Choice

Which of the following is not one of the three steps to implementing an REA diagram in a relational database?

• A) Assign attributes to appropriate tables.
• B) Create a table for each distinct entity in the diagram and for each many-to-many relationship.
• C) Every event must be linked to at least one resource.
• D) Use foreign keys to implement one-to-one and one-to-many relationships.

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Definitions:

LIFO Method

An inventory management and valuation approach where the last items placed in inventory are the first ones sold.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States to ensure financial statements are consistent and transparent.

IFRS

International Financial Reporting Standards - a set of accounting guidelines that provide the basis for cross-border financial reporting.

Specific Identification

An inventory valuation method in which the cost of each specific item in inventory is tracked and used to calculate cost of goods sold.