Which of the statements below is false with regards to generating financial statements from an REA-based relational database?
◦ It is possible to use a completed REA diagram to guide the writing of queries to produce the information that would be included in financial statements.
◦ Many financial statement items can be displayed by querying a single table.
◦ It is unnecessary to understand the REA data model to know which tables need to be included in each query to generate the correct answers to financial statement questions.
◦ A major advantage of the REA data model is that it integrates non-financial and financial data.