Which of the Following Statements About Transaction Analysis Is Not

question 191

Multiple Choice

Which of the following statements about transaction analysis is not correct?

• A)A transaction is an exchange or event that has a direct and measurable financial effect.
• B)Every transaction has at least two effects.
• C)Cash is the account credited when a bank loan is repaid.
• D)Notes Payable is the account debited when money is borrowed from a bank using a promissory note.

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