An entity in an accounting system can be classified as a resource, event or agent about which data are collected.

Name: An entity in an accounting system can be classified as a resource, event or agent about which data are collected.
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Question

Quizplus · Accepted Answer

This statement is true. In accounting systems, data is collected about resources (such as assets and liabilities), events (such as transactions), and agents (such as customers and vendors).

An Entity in an Accounting System Can Be Classified as a Resource