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WorksheetsREA Modeling
Total questions: 10
Worksheet time: 16mins
Name
Class
Date
1.
Which is false?
a)
A. Unlike some REA systems, Traditional accounting systems permit both accounting and nonaccounting data to be identified, captured, and stored in a centralized database.
b)
B. ER model is a unique version of REA Model diagram consisting of three entity types and a set of associations.
c)
C. Three entity types inlcudes resources, events, and agents.
d)
D. REA model is an accounting framework for modeling an organization’s critical resources, events,<br />and agents and the relationships between them.
e)
Both A and B is false
2.
Which of the following is not a Support Event under the REA Model?
a)
determining inventory availability for a customer prior to making a sale
b)
verifying supporting information (performing a three-way-match) prior to disbursing cash to a vendor,
c)
checking customer credit before processing a sale.
d)
sales of products to customers
3.
Which is false?
a)
Each economic event can be associated with an internal agent only.
b)
Internal and external agents are also involved in support events, but the exchange involves information rather than economic resources.
c)
Economic agents are individuals and departments that participate in economic and support events.
d)
Economic events are phenomena that effect changes (increases or decreases) in resources as represented by the stock flow relation.
4.
Which is false?
a)
Entities in ER diagrams are of one class.
b)
Entities in a REA diagram has three classes.
c)
REA model considers the need for any accounting artifacts/records
d)
Exchange is a pair of economic events, which is expressed via the duality association.
5.
The view integration process involves three basic steps except?
a)
Consolidate the individual models.
b)
Determine associations and cardinalities between entities.
c)
Define the primary keys, foreign keys, and attributes.
d)
Construct the physical database and produce user views.
6.
The view modeling process as applied to creating an REA diagram involves four steps except?
a)
Identify the event entities.
b)
Identify the resource entities.
c)
Identify the agent entities.
d)
Determine associations and cardinalities between entities.
e)
Define the primary keys, foreign keys, and attributes.
7.
This analysis distinguishes between primary activities and support activities: primary activities create value; support activities assist in the achievement of the primary activities.
a)
REA Modeling
b)
Value Chain Analysis
c)
View Integration
d)
View Modeling
8.
Which of the following statements is true?
a)
REA model create an event database for operations, planning, and control purposes and maintain a traditional general ledger system separately in the background for financial reporting.
b)
ERP systems exemplify the successful integration of event-based and traditional database designs within a single system
c)
The REA model provides managers with more relevant, timely, and accurate information.
d)
The REA approach to modeling business processes helps managers focus on the key elements of economic events and identify the nonvalue-added activities that can be eliminated from operations.
e)
All information are true.
9.
Which of the following can be considered as "Resources" under the REA modeling?
a)
Factory
b)
Inventory
c)
Equipment
d)
Cash
e)
Employee
10.
Which of the following can be considered as "Event" under the REA modeling?
a)
Sales
b)
Vendor
c)
Purchases
d)
Receive goods
e)
Hire an employee
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