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QUESTION 1 Match each term with the correct description. An event entity in an REA diagram...

QUESTION 1

  1. Match each term with the correct description.

    An event entity in an REA diagram for the revenue cycle

    An event entity in an REA diagram for the expenditure cycle
      

    Represents the relationship between Sales and Inventory in an REA diagram for a Pet Store
      

    Represents the relationship between Cash and Receive Cash in an REA diagram when a company has several types of bank accounts and all customer receipts are deposited into the checking account.

    Represents the relationship between Sale and Receive Cash in an REA diagram when customers are sent monthly statements which include all sales transactions during the month and the customer pays the balance in full with one check.
    A.

    Purchase
    B.

    M:N
    C.

    N:1
    D.

    1:N
    E.

    Receive Cash
Business   Accounting   
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Answer #1
An event entity in an REA diagram for the revenue cycle E. Receive Cash
An event entity in an REA diagram for the expenditure cycle A. Purchase
Represents the relationship between Sales and Inventory in an REA B. M:N
diagram for a Pet Store
Represents the relationship between Cash and Receive Cash in an REA D. 1:N
diagram when a company has several types of bank accounts and all
customer receipts are deposited into the checking account.
Represents the relationship between Sale and Receive Cash in an REA C. N:1
diagram when customers are sent monthly statements which include all
sales transactions during the month and the customer pays the balance in
full with one check.
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