A Data Model Is a Formal Way of Representing the Data

question 69

True/False

A data model is a formal way of representing the data that are used and created by a business system.

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Definitions:

Sales Discounts

A decrease in the cost of products or services provided to consumers, usually to encourage prompt payment or large-scale buying.

Account Category

A classification or grouping used in accounting to organize financial transactions, such as assets, liabilities, revenue, and expenses.

Normal Balance

The side (debit or credit) of an account that is usually increased, reflecting its normal financial balance.

Financial Statement

A certified summary of all financial dealings and the fiscal posture of a business entity, a private individual, or any other party.