Since REA databases do not employ journals and ledgers, how can they support financial statement reporting?
Journals, ledgers, and double-entry bookkeeping are the traditional mechanisms for formatting and transmitting accounting data, but they are not essential elements of an accounting database. REA systems capture the essence of what accountants account for by modeling the underlying economic phenomena directly from the transaction data. Organizations employing REA can thus produce financial statements, journals, and ledgers.
You might also like to view...
Why is it important to view blogs skeptically before using them?
a. They are unbiased. b. They could be written by someone who is not an expert in the topic. c. They can be difficult to cite. d. They are never respected.
When you want to express a negative thought, always use two negative words such as not or never
A) True B) False
All of the following are examples of Herzberg's motivation factors except
A. achievement. B. working conditions. C. recognition. D. responsibility. E. advancement and growth.
Intrinsic motivation is controlled by some contingency that depends on task performance.
Answer the following statement true (T) or false (F)