Which of the Following Is an Example of a Non-Monetary

question 15

Multiple Choice

Which of the following is an example of a non-monetary transaction?

• A)The purchase of inventory on account.
• B)The recording of amortization expense.
• C)The expiry of prepaid insurance.
• D)The purchase of land by issuing shares.

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Definitions:

United Nations Convention

An international agreement formed under the United Nations' auspices, often addressing issues of global concern.

International Sale of Goods

The sale transaction of goods between parties located in different countries, governed by specific legal frameworks and treaties.

Obligations

Duties or commitments legally or morally binding an individual or entity.

Perfect Tender Rule

A principle in sales law stating that a seller must deliver goods that exactly meet the terms of the contract, allowing the buyer to reject anything less.