Identify the item below that would be classified as an event by the REA data model.
A) an IOU from a customer
B) the CFO
C) a customer sale
D) none of the above

Question

Quizplus · Accepted Answer

A customer sale is an example of an event in the REA data model as it involves an exchange of goods or services between parties. Option A refers to a liability and Option B refers to a person or position and thus cannot be classified as events in the REA data model. Option D suggests that there is no answer, which is incorrect.

Identify the Item Below That Would Be Classified as an Event