In an REA model,rental transactions differ from sales transactions in that
A) each rental has a part number.
B) each rental has a unique serial number.
C) rental transactions require completely different REA models than sales transactions.
D) All of the above are ways in which rental transactions differ from sales transactions.

Question

Quizplus · Accepted Answer

Each rental typically has a unique serial number to differentiate it from other rentals, while sales transactions may not require a unique identifier like a serial number or part number. It is important to distinguish between rentals and sales in an REA model to ensure accurate tracking and reporting of each type of transaction. Choice A is not always true, as part numbers may not be necessary for rentals depending on the nature of the rental item. Choice C is incorrect, as the same REA model can typically be used to represent both rental and sales transactions with appropriate adjustments. Choice D is incorrect because choice A may not always be true.

In an REA Model,rental Transactions Differ from Sales Transactions in That