Business Transaction

Which of the following is a characteristic of a business transaction?

• It affects the financial position of the business.

• It can be initiated by an unauthorized person

• It is a for fun event

  It is not supported by a source document

• It is not supported by a source document

Which of the following is not a characteristic of Business Transaction?

• It affects the financial position of the business

• It can be initiated by an unauthorized person

• It is a monetary event

• It is supported by a source document

Which of the following is not an example of a business transaction?

• a. A purchase of a personal dress.

• b. Payment of a bill in Accounts Payable.

• c. Receipt of a payment for an Accounts Receivable.

• d. Receipt of a loan proceeds.

Which of the following is an example of a business transaction?

• a. A purchase of a personal dress.

• b. Payment of a home electricity bill.

• c. Receipt of a personal gift from a friend.

  .

• d. Receipt of a payment for an Accounts Receivable.

What is value parted with?

• a. given away  

• b. taken  

• c. received

• d. wiped

Which of the following is not an example of a Business Transaction?

• a. A purchase of supplies or raw material

• b. A sale of merchandise or services

• c. Attending wedding ceremony

• d. Payment of a bill in Accounts Payable

What are two items that must be considered and analyzed in a business

transaction?

• a. service received and service parted with

• b. service received and parted with

• c. value received and service parted with

• d. value received and value parted with

What is the value received and the value parted with in this business transaction? “ Sold of merchandise in cash.”

• a. Value Received Cash - Value Parted with Merchandise

• b. Value Received Cash - Value Parted with Service Income

• c. Value Received Furniture - Value Parted with Merchandise

• d. Value Received Cash - Value Parted with Merchandise

What is the observing of the change in financial position of the business?

• a. Analysis of Business Transaction

• b. Analysis of Transactions

• c. Business Transaction

• d. General Transaction

It refer to activities and events that affect the financial position of a business and are capable of being assigned monetary values.

•     

       business transaction  

•        

       production                              

• reduction       

   

•                                sanction