Select the Choice That Describes the Type of Transaction and Whether

question 193

Short Answer

Select the choice that describes the type of transaction and whether it should be recorded in the accounting system. (Choices may be used more than once.)
a.External event to be recorded as a transaction
b.Internal event to be recorded as a transaction
c.Event which should not be recognized in the accounting system
-A bill is received for the current month's utilities.

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Definitions:

NASD

Was a self-regulatory organization for the U.S. securities industry, responsible for regulatory oversight, which is now part of FINRA (Financial Industry Regulatory Authority).

NASDAQ

The National Association of Securities Dealers Automated Quotations, an American stock exchange known for its high concentration of technology companies.

FDIC

The Federal Deposit Insurance Corporation, a United States government agency that provides deposit insurance to depositors in US banks.

Financial System

The set of processes and mechanisms that enable the transfer of money between savers, borrowers, and investors.