Which of the Following Is an Accounting Transaction

question 7

Multiple Choice

Which of the following is an accounting transaction?

• A) making a purchase order
• B) establishing a bank overdraft
• C) hiring a new staff member
• D) signing a new contract.

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Definitions:

Discount Date

The specified date before which a payment can be made on an invoice to receive a discount for early payment.

Due Date

The specified date by which a task, assignment, or payment should be completed or submitted.

Complement Rate

A measure used in calculations where it, along with another specified rate, sums up to a predetermined total, serving as a critical component in various analytical processes.

Cash Discount

A reduction in the invoice amount by the seller, offered to the buyer for early payment.