Answer to Question #315550 in Accounting for Jen

Question

Two types of locations entities (Warehouses and Financial Institutions). What other location entities might be found in the REA diagrams for different types of companies? Why?

Answer 1

Other location entities that might be found in the REA diagrams for different types of companies include retail businesses, agencies and service providers. There is exchange of resources such as goods, services or money; there are business transactions and people are involved.