Which of the Following Is a Business Event That Is

question 130

Multiple Choice

Which of the following is a business event that is not considered a recordable transaction?

• A)A company receives a product previously ordered.
• B)A company pays an employee for work performed.
• C)A customer inquires about the availability of a service.
• D)A customer purchases a service.

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Definitions:

Bank Reconciliation

The method of aligning and scrutinizing numbers from financial records with those presented in a bank statement to verify their consistency.

Interest Earned

The income received from investments in financial instruments like savings accounts, bonds, and loans, usually calculated as a percentage of the principal amount.

Internal Control

A process implemented by a company’s management and board of directors to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliable financial reporting, and compliance with laws and regulations.

Pre-numbered

Pre-numbered refers to documents or forms that are sequentially numbered in advance, aimed at preventing fraud and ensuring completeness in record-keeping.