Concerning REA models,which of the following is false?
A) Many financial statement accounts are represented as resources in the REA model.
B) Accounts such as Accounts Receivable show up as entities in the REA model.
C) Some accounts represent an imbalance between two related events in the REA model.
D) Much of the information about an organization's assets that is traditionally recorded in ledgers is stored in resource tables in an REA-based relational database.

Question

Quizplus · Accepted Answer

Accounts such as Accounts Receivable do not show up as entities in the REA model because they are not considered resources, events, or agents. They are typically derived from the relationships between events and resources.

Concerning REA Models,which of the Following Is False