ER Diagrams Always Label Entity Names in the Singular Noun

question 23

True/False

ER diagrams always label entity names in the singular noun form.

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Definitions:

Closing Process

The procedure at the end of an accounting period where income and expense accounts are cleared out to start the new period with a zero balance.

Revenues and Expenses

Pertains to the income generated from normal business operations and the costs incurred to generate that income, crucial for determining net profit.

Special Account

A unique account that is established for a specific purpose, often outside the regular operations or financial structure.

Retained Earnings

The portion of a company's profits that is kept or retained for reinvestment in the business, rather than being paid out as dividends.