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Author Question: Using an REA database design, which of the below is false with regards to cost data? (Read 55 times)

RRMR

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on: Apr 8, 2019

Question 1

In an expenditure cycle diagram, which of the following is an example of an event that larger organizations might want to include in their extended REA model?
◦ Request.
◦ Order.
◦ Ship Order.
◦ Fill Order.

Question 2

Using an REA database design, which of the below is false with regards to cost data?
◦ Cost information is stored in several tables.
◦ Standard cost is stored as an attribute of the Inventory table because it is the same for all units of a given inventory item for a fiscal year.
◦ In contrast, the actual cost of inventory is stored in a relationship table because prices can vary over time.
◦ Actual cost can be stored as an attribute of the Inventory table for organizations that value inventory based on the most recent amount paid.
Accounting Information Systems ¦ Romney, Steinbart ¦ 14th Edition
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Marked as best answer by RRMR on Apr 8, 2019

dantucker

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Reply #1 on: Apr 8, 2019
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RRMR

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Reply #2 on: Apr 8, 2019
Thank you!


dantucker

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Reply #3 on: Apr 8, 2019
Always glad to help...


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