The REA Data Model Supports Both __________ and __________ Types

question 36

Multiple Choice

The REA data model supports both __________ and __________ types of data.

• A)financial; nonfinancial
• B)logical; physical
• C)planning; control
• D)traditional; nontraditional

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Definitions:

Organize

The process of structuring or arranging resources and tasks to achieve a specific objective efficiently.

Capital Balances

The amount of equity ownership a partner has in a partnership or an investor has in a company.

Noncash Assets

Assets that are not in the form of cash or currency, including tangible assets like property, plant, and equipment, and intangible assets like patents and copyrights.

Distribution

The process of making a product or service available for the consumer or business user.