What is meant by cardinality in entity relationship diagrams?

Q: What is physical location exchanges?

A: Exchanges:  An open and coordinated marketplace for various financial instruments like stocks,…

Q: What is the objective of a transaction log?

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: Explain how an IT environment affects the segregation of functions.

A: Segregation of Duties (SoD) is a set of controls and policies intended to ensure accuracy and keep…

Q: Explain Matching Principles?

A: Matching concept is an accounting principle which explains the need to match revenue with the…

Q: Explain the difference between external events and internal events. Give an example of each type of…

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: What is the role of the data control group?

A: The question is based on the concept of control group in experiment.

Q: Define agency relationship

A: Agency relationship is the part of business law where it is a legal relationship between the two…

Q: What do you mean by Count Data? When it arises?

A: Count data:  Count data is a kind of statistical data, in which the observations might only consider…

Q: How are the network and hierarchical models different?

A: Database Management:   Database management refers to management of databases held within an…

Q: What are the objectives of application controls?

A: An application control consists of compactness and validity checks, identification, authentication,…

Q: Explain what asymmetric information is.

A: Asymmetric information is aslo known as information failure, it occurs when one party to an economic…

Q: is a “look through entity”

A: Look-Through Entity: Look-Through Entity suggests that an individual that's registered under the…

Q: Describe the usefulness of a conceptual framework.

A: A conceptual framework can be defined as a system of ideas and objectives that lead to the creation…

Q: What is a transaction?

A: Transaction refers to the business activity which brings change in the business assets, liabilities…

Q: What is represented by the labeled lines connecting entities in an REA diagram?

A: REA Diagram: REA diagram is a technique used to establish the relationship between resource, events…

Q: ness document is it?

A: voucher is a backup documents which shows business transactions.

Q: Distinguish between entity relationship diagrams, data flow diagrams, and system flowcharts.

A: Transaction Process System:   Transaction process system can be defined as a system designed to…

Q: Describe what is meant by transaction analysis.

A: Accounting Equation: Accounting equation is the mathematical representation of the relationship…

Q: What is information system ? Elaborate and describe the details

A: Solution- Information systems-        AN system could be a collection of interconnected elements to…

Q: Can two different entities have the same defining attributes? Explain.

A: Entity in the context of database management implies anything regarding which data is required to be…

Q: What is an REA diagram?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What is the relationship among data, information, and an information system?

A: The meanings for following terms are stated below: Data: It can be described as unprocessed facts…

Q: What do the relational features restrict, project, and join mean?

A: Database Management: Database management refers to management of databases held within an…

Q: Explain what is meant by the term “system”. How do subsystems, systems and systems of systems…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: Explain the relationship between cardinality and association.

A:

Q: What is scalability?

A:

Q: What criterion should be used to evaluate trade-offs between information characteristics?

A: Financial accounting: It refers to the process of recording the financial transactions of the…

Q: Explain an example of internal events.

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: What is EBITDA?

A: EBITDA is a metric which is used to measure the company's profitability. Though there is no legal…

Q: What are the functions of the conceptual framework under IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: What is an object, and what are its characteristics in the object-oriented approach? Give two…

A:

Q: What is organization structure?

A: Organisation structure is a system used to define a hierarchy within an organization. It identifies…

Q: For what purpose are entity relationship diagrams used?

A:

Q: what is articulation

A: Financial statement They are the records of financial activities which are formal in nature. It…

Q: Why is the content of a proxy statement considered to be so important?

A: Importance of content of a proxy statement: Most of the significant actions undertaken by a company…

Q: What is the purpose of Transaction Tagging?

A: Tagging and tracking transaction: In tagging and tracking transaction technique, the auditor puts a…

Q: What are the components of relevant information? What are the components of faithful representation?

A:

Q: What is the purpose of the FASB’s conceptual framework?

A:

Q: Distinguish between conceptual and physical systems.

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Explain an example of external events.

A: Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Define Transaction exposure

A: Transaction exposure is the sensitivity of realized domestic currency values of the firm's…

Q: What assertions are tests for transaction classes?

A: Management assertions are the claims made by the management about the items in the financial…