What does an entity-relationship diagram represent? Why do accountants need to understand them?
Entity relationship diagrams represent the relationship between entities in a system. An entity is either 1) a resource (such as cash or inventory), 2) an event (such as a sale or a receipt of cash), or 3) an agent (such as a customer or vendor). ERDs represent the relationship between entities graphically. ERDs are used in the design of databases.
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________ are wholesalers who serve grocery and drug retailers, mostly in nonfood items. They price the goods, keep them fresh, set up point-of-purchase displays, and keep inventory records
A) Purchasing agents B) Rack jobbers C) Drop shippers D) Cash-and-carry wholesalers E) Manufacturers' agents
In goods retailing, consumers purchase goods; in rented-goods services, they lease goods
Indicate whether the statement is true or false
Although the term podcasting has caught on, a more accurate term when it applies to video content is ________
A) tubecasting B) webcasting C) vcasting D) ?viewcasting
J & J Co offers a "subscription" for baby toys to be delivered every two months from the birth of a child. Payment must be made within two weeks of delivery. The Markham family accepted the J & J plan when their son, Timmy, was born. When Timmy was four months old, one J & J toy arrived smashed to pieces. Markham:
A) can treat the whole contract as breached and refuse to pay for past installments as well as future installments. B) can reject the installment and cancel the contract immediately. C) can reject the installment and refuse to pay if J & J cannot cure it. D) cannot reject the installment since it is part of a series.