Which of the following is not a transaction

इंडियन गवर्नमेंट एग्जाम प्रेप

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

Correct Answer: D

Solution & Explanation

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.

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