I thought that the schemas are namespace instances and hence the same table created under 2 different schemas are 2 different objects from the perspective of the database. One of my colleagues claim that schemas are nothing but a security container, hence we can create the same table in different schemas. Is this true?
I thought that the schemas are namespace instances and hence the same table created
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You are correct.
and
creates 2 separate objects. You could create a synonym
bar.Tthat aliasesfoo.Tthough.