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
Professionals usually maintain accounts as
A) Accounts with inventory
B) Accounts only
C) Normal accounting
D) Payroll accounting
Related Questions - 2
Which submenu is used to create new ledgers, groups and voucher types in Tally
A) Account Info
B) Inventory Info
C) Accounting Vouchers
D) Inventory Vouchers
Related Questions - 3
Which of the following shows daily balance for a selected voucher type
A) Day book
B) Trial Balance
C) Balance Sheet
D) None of the above
Related Questions - 4
Default ‘godown’ name in tally is ________
A) Primary
B) Main location
C) A or B
D) None of the above