Question

Which of the following statements is true only about an integrated REA data model? Every event must be linked to at least two agents. Press enter after select an option to check the answer Every increment (Get) event must be linked to a decrement (Give) event. Press enter after select an option to check the answer Every resource must be linked to at least one increment event and at least one decrement event. Press enter after select an option to check the answer Every resource must be linked to at least one agent.

Answer 1

Every resource must be linked to at least one increment event and at least one decrement event.

Step-by-step explanation:

The REA data model is so named because it classifies entities into three distinct categories: the resources the organization acquires and uses, the events (business activities) in which the organization engages, and the agents participating in these events.

The REA data model focuses on the business semantics underlying an organization's value-chain activities.

Resources are those things that have economic value to the organization.

The essential features of an integrated REA data model are as follows:-

l. Each event is linked to at least one resource that it affects.

2. Each event is linked to at least one other event.

3. Each event is linked to at least two participating agents

From the above, we say that: Every resource must be linked to at least one increment event and at least one decrement event.