Candy Cane Opened an Ice Cream Store on June 1

question 89

Multiple Choice

Candy Cane opened an ice cream store on June 1 and hired an accounting intern to help her establish the business.The intern has identified the following transactions.Which of these transactions is not an accounting transaction?

• A)Purchased $3,400 of milk and cream from a local dairy
• B)Signed a contract to deliver $1,200 of ice cream for a July 4th party
• C)Paid June rent of $2,300
• D)Borrowed money from the bank by signing a promissory note for $5,000

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Definitions:

Big Bank

A term often used to refer to the largest banks in a particular region or country, which have a significant impact on the overall banking and financial system.

Fiber Optic Cable

A Fiber Optic Cable is a network cable that contains strands of glass fibers inside an insulated casing, designed for long-distance, high-performance data networking and telecommunications.

Construction Worker

An individual employed in the physical construction of buildings and infrastructure projects.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.