Identify the item below that would be classified as an agent 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

In the REA data model, an agent is a person or entity that can make economic decisions, such as buying or selling goods or services. The CFO, as a person responsible for financial affairs of the organization, would be considered an agent in this context. A) an IOU from a customer would be classified as a liability; C) a customer sale would be classified as an exchange event. D) "none of the above" is not the correct answer in this case.

Identify the Item Below That Would Be Classified as an Agent