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WorksheetsBusiness Transaction
Total questions: 10
Worksheet time: 5mins
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
