Question 1

Which of the following are characteristics of internal agents?

Accepted Answer

A)  They participate in economic events, but do not assume control of the resources 
B)  They are employees of the company whose system is being modeled 
C)  They participate in economic events, but not in support events 
D)  All of the above 
A)  They participate in economic events, but do not assume control of the resources 
B)  They are employees of the company whose system is being modeled 
C)  They participate in economic events, but not in support events 
D)  All of the above

Question 2

When assigning foreign keys in a 1:M association

Accepted Answer

A)  The primary key of each table should be embedded as a foreign key in the related table 
B)  The primary key on the (0,M) side of the relation should be embedded as the foreign key on the (1,1) side. 
C)  The primary key on the (1,1) side of the relation should be embedded as the foreign key on the (0,M) side. 
D)  None of the above is true 
A)  The primary key of each table should be embedded as a foreign key in the related table 
B)  The primary key on the (0,M) side of the relation should be embedded as the foreign key on the (1,1) side. 
C)  The primary key on the (1,1) side of the relation should be embedded as the foreign key on the (0,M) side. 
D)  None of the above is true

Question 3

Which of the following statement is correct?

Accepted Answer

A)  The REA model requires that phenomena be characterized in a manner consistent with the development of a single user view. 
B)  The REA model requires that phenomena be characterized in a manner consistent with the development of a selected user view. 
C)  The REA model requires that phenomena be characterized in a manner consistent with the development of a unique user view. 
D)  The REA model requires that phenomena be characterized in a manner consistent with the development of a multiple user view. 
A)  The REA model requires that phenomena be characterized in a manner consistent with the development of a single user view. 
B)  The REA model requires that phenomena be characterized in a manner consistent with the development of a selected user view. 
C)  The REA model requires that phenomena be characterized in a manner consistent with the development of a unique user view. 
D)  The REA model requires that phenomena be characterized in a manner consistent with the development of a multiple user view.

Question 4

At least two REA agents participate in each an economic event.

Accepted Answer

A) True 
 B)False

Question 5

Discuss why adherence by the accounting profession to a single,GAAP-based view is inappropriate.

Accepted Answer

Modern managers need both financial and

Question 6

The 'E' in REA stands for

Accepted Answer

A)  events 
B)  estimates 
C)  economics 
D)  entities 
A)  events 
B)  estimates 
C)  economics 
D)  entities

Question 7

Discuss the limitations of transaction based systems

Accepted Answer

Transaction based systems intend to capt

Question 8

Define duality.

Accepted Answer

Each economic event in an exch

Question 9

Four basic forms of cardinality are possible: zero or one (0,1),one and only one (1,1),one or many (1,M),and many and only many (M,M).

Accepted Answer

A) True 
 B)False

Question 10

The 'A' in REA stands for

Accepted Answer

A)  assets 
B)  apportionment 
C)  allocation 
D)  agents 
A)  assets 
B)  apportionment 
C)  allocation 
D)  agents

Question 11

The duality association in an REA diagrams signifies that each economic transaction involves two agents.

Accepted Answer

A) True 
 B)False

Question 12

The 'R' in REA stands for

Accepted Answer

A)  ratios 
B)  relationships 
C)  resources 
D)  reserves 
A)  ratios 
B)  relationships 
C)  resources 
D)  reserves

Question 13

The REA approach generates an information system based on a single holistic user view.

Accepted Answer

A) True 
 B)False

Question 14

Most companies implementing an REA model also maintain a traditional general ledger system for financial reporting.

Accepted Answer

A) True 
 B)False

Question 15

Explain the relationship between cardinality and association.

Accepted Answer

The upper cardinalities for each of the

Question 16

Which of the following associations would most likely describe the relationship between an internal agent and an economic event?

Accepted Answer

A)  1:M 
B)  1:1 
C)  0:M 
D)  none of the above 
A)  1:M 
B)  1:1 
C)  0:M 
D)  none of the above

Question 17

Define the value chain

Accepted Answer

These are the activi

Question 18

A difference between ER and REA diagrams is that ER diagrams present a static picture of the underlying business phenomena.

Accepted Answer

A) True 
 B)False

Question 19

Define cardinality.

Accepted Answer

Cardinality describes the numb

Question 20

What are support events?

Accepted Answer

Support events include control

Which of the following are characteristics of internal agents?

When assigning foreign keys in a 1:M association

Which of the following statement is correct?

At least two REA agents participate in each an economic event.

Discuss why adherence by the accounting profession to a single,GAAP-based view is inappropriate.

The 'E' in REA stands for

Discuss the limitations of transaction based systems

Define duality.

Four basic forms of cardinality are possible: zero or one (0,1),one and only one (1,1),one or many (1,M),and many and only many (M,M).

The 'A' in REA stands for

The duality association in an REA diagrams signifies that each economic transaction involves two agents.

The 'R' in REA stands for

The REA approach generates an information system based on a single holistic user view.

Most companies implementing an REA model also maintain a traditional general ledger system for financial reporting.

Explain the relationship between cardinality and association.

Which of the following associations would most likely describe the relationship between an internal agent and an economic event?

Define the value chain

A difference between ER and REA diagrams is that ER diagrams present a static picture of the underlying business phenomena.

Define cardinality.

What are support events?

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

General Ledger, Financial Reporting, and Management Reporting Systems

Database Management Systems

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters

Exam 10: The REA Approach to Business Process Modeling

Which of the following are characteristics of internal agents?

When assigning foreign keys in a 1:M association

Which of the following statement is correct?

At least two REA agents participate in each an economic event.

Discuss why adherence by the accounting profession to a single,GAAP-based view is inappropriate.

The 'E' in REA stands for

Discuss the limitations of transaction based systems

Define duality.

Four basic forms of cardinality are possible: zero or one (0,1),one and only one (1,1),one or many (1,M),and many and only many (M,M).

The 'A' in REA stands for

The duality association in an REA diagrams signifies that each economic transaction involves two agents.

The 'R' in REA stands for

The REA approach generates an information system based on a single holistic user view.

Most companies implementing an REA model also maintain a traditional general ledger system for financial reporting.

Explain the relationship between cardinality and association.

Which of the following associations would most likely describe the relationship between an internal agent and an economic event?

Define the value chain

A difference between ER and REA diagrams is that ER diagrams present a static picture of the underlying business phenomena.

Define cardinality.

What are support events?

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

General Ledger, Financial Reporting, and Management Reporting Systems

Database Management Systems

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters