Question: Some people believe database technology may eliminate the need for double-entry accounting.This creates three possibilities: (1) the double-entry model will be abandoned (2) the double-entry

Some people believe database technology may eliminate the need for double-entry accounting.This creates three possibilities:

(1) the double-entry model will be abandoned

(2) the double-entry model will not be used directly, but an external-level schema based on the double-entry model will be defined for accountants' use, or

(3) the double-entry model will be retained in database systems.

Which alternative do you think is most likely to occur?Why?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Question 1 ( 2 5 Marks ) Critically evaluate the manner in which the research projects described in the article reflect the characteristics of scientific research and illustrate the role of applied...

Q:

Some people believe database technology may eliminate the need for double-entry accounting.This creates three possibilities: (1) the double-entry model will be abandoned (2) the double-entry model...

Q:

Some people believe database technology may eliminate the need for double-entry accounting.This creates three possibilities: (1) the double-entry model will be abandoned (2) the double-entry model...

Q:

1-) Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists. What are the...

Q:

2. Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry...

Q:

Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry model...

Q:

Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry model...

Q:

Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry model...

Q:

Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry model...

Q:

Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry model...

Q:

Some people believe database technology may eliminate the need for double-entry accounting. This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry model...

Q:

What types of damages may ensue as a result of personal injury, wrongful death and survival actions?

Q:

Contribuyente is a public limited company dedicated to the advertising and marketing business. During taxable year 20X1 did the following activities take place: He paid $25,000 to the Captain of the...

Q:

s i n ( 2 x ) 1 9 c o s 2 ( x ) d x

Q:

The optimal combination of Kalama and Adelphia is 53% and 47%, respectively. This results in a risky portfolio return of 18.74% and a standard deviation of 17.65%. As Andrea wants to earn a return of...

Q:

ABC Company decides to replace its old air conditioner unit. The air conditioner unit has a book value of $8,000 ($24,000 cost and $16,000 accumulated depreciation) and it can be scrapped for $1,000....

Q:

A pointer holds a memory address.

Q:

1. What will happen in the future

Q:

3. Avoid making mistakes when reaching our goals

Q:

4. Achieve our positive goals (1 and 3 are motivated by avoiding the negative, while 2 and 4 are motivated by the positive). b. Initiative: When I communicate with others, I think it is very...