Several Events Are Listed Below

question 37

Essay

Several events are listed below.Indicate whether each event is an external event that should be recorded as a transaction, an internal event which should be recorded as a transaction, or an event which should not be recorded.Use the following identification codes for your answers:
E - External event to be recorded as a transaction
I - Internal event to be recorded as a transaction
NR - An event which should NOT be recorded ___    A) An order is placed with a supplier for merchandise.
___    B) Common stock is issued to investors.
___    C) Cash sales are made.
___    D) Raw materials are entered into production.
___    E) Federal income tax returns are prepared by the comp any's accountant.
___    F) Bills are received for utility expenses.
___    G) Payment is received from customers to whom merchandise had been sold on credit.
___    H) Money collected from cash and credit customers is deposited in the company's checking account at a local bank.

---

Definitions:

Nonferrous Metal

Metals that do not contain a significant amount of iron. This category includes aluminum, copper, lead, nickel, tin, titanium, and zinc among others.

Fly

A term that can refer to the act of moving through air using wings or through travelling by airplane, often unrelated to direct business terminology.

Ferrous Metal

Metals that contain iron. They are known for their strength and are widely used in construction, automotive, and other heavy industries.

Warp Ends

In textile manufacturing, this term refers to the threads that run lengthwise in a piece of woven fabric, often tied off or finished at the ends.