Question :
A) Goods are purchased on cash basis for Rs 1000
B) Salaries paid for the month of May 20XX
C) Land is purchased for Rs 10 lakhs
D) An employee is dismissed from the job
Answer : D
Which of the following is not a transaction
A) Goods are purchased on cash basis for Rs 1000
B) Salaries paid for the month of May 20XX
C) Land is purchased for Rs 10 lakhs
D) An employee is dismissed from the job
Answer : D
Description :
An accounting transaction is a business event having a monetary impact on the financial statements of a business. It is recorded in the accounting records of the business. An employee is dismissed from the job does not have any monetary impact so it is not a transaction.
Related Questions - 1
Which of the following is compulsory to create while entry in Accounts with Inventory
A) Stock Groups
B) Stock Items
C) Units of Measure
D) All of these
Related Questions - 2
Salary Account comes under which head
A) Indirect Incomes
B) Indirect Expenses
C) Direct Incomes
D) Direct Expenses
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Which menu is used to create new ledgers, groups and voucher types in Tally
A) Reports
B) Import
C) Transactions
D) Masters
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Party account can be created through
A) Group creation window
B) Ledger creation window
C) Inventory creation window
D) Any one of them