Question 1
Which of the following statements is
true about the development of an REA model?
◦ Events that pertain to the entry of data are included in the REA model.
◦ The objective is to model basic value-chain activities.
◦ REA diagrams model individual transactions and data collections.
◦ Information retrieval events are modeled as events in the REA model.
Question 2
The first step in developing an REA diagram for a specific transaction cycle begins with identifying
◦ relevant events.
◦ agents involved.
◦ resources affected.
◦ relationship cardinalities.