List and explain the steps involved in preparing an REA model of a business process
The preparation of an REA model of a business process can be described in four steps:
1 . Identify the events that are to be included in the model. These are the economic events and support events that add value and achieve the strategic objectives of the organization. Organize the events in order of occurrence. Events entities are described in verb form.
2 . Identify the resources affected in each event.
3 . Identify the agents involved in each event.
4 . Assign the cardinalities to the resources/events/agents entity relationships.
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Answer the following statement true (T) or false (F)
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