REA Diagrams Include All of the Following Entities Except

question 20

Multiple Choice

REA diagrams include all of the following entities except

• A)support events
• B)economic events
• C)internal agents
• D)users

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Definitions:

Firms

Business organizations that use resources to produce goods or services for profit.

Goods and Services

Refers to tangible products and intangible activities that fulfill the needs or wants of consumers.

Factors of Production

Resources used in the production of goods and services, including labor, capital, land, and entrepreneurship.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value to an organization or society.