Chapter 8 REA Modeling 159 10. Statement evaluation. Please indicate whether eac

Question

Chapter 8 REA Modeling 159 10. Statement evaluation. Please indicate whether each of the following statements is (i) always true, (ii) sometimes true, or (ii) never true. For those that are (ii) sometimes true, explain when the statement is true. a. "Choose AIS software" would be included as an event in a REA model. b. Events can be related to one another in a REA model. c. Events in a REA model are shown in the second column. d. If an accountant can construct a REA model, data flow diagrams and flowcharts are unnecessary e. Most REA models will include both internal and external agents. f. REA models include decision/management events. g. Resources and agents are unrelated in a REA model. h. Strong internal controls are evident in a REA model. i. Understanding an organization's environment is important in designing a REA model. j. View-driven accounting systems do not provide information for decisions. Excel application. Consider the following Excel spreadsheet II. o in Transaction date Employee ID Customer ID

Explanation / Answer

10.

(a) "Choose AIS Software" would be included as an event in a REA model:

iii. never true

(b) Events can be related to one another in a REA model.

i. always true

(c) Events in a REA model are shown in the second column.

i. always true

(d) If an accountant can construct a REA model, data flow diagrams and flowcharts are unnecessary.

ii. sometimes true, REA model can easily take the places of the flowcharts and diagrams but they typically build off of them.

(e) Most REA models will include both internal and external agents.

i. always true

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