Which of the Following Business Events Is Not a Transaction

question 24

Multiple Choice

Which of the following business events is not a transaction

• A)Signing a contract.
• B)Paying wages.
• C)Receiving goods.
• D)Purchasing a service.

---

Definitions:

Premium Amortization

The process of gradually reducing the premium paid over the par value of a bond or other financial instrument over its life.

Straight-Line Method

A depreciation technique in which an asset loses equal value annually over its useful life.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, different from a calendar year.

Straight-Line Method

The straight-line method is an accounting technique used to allocate the cost of an asset evenly over its useful life for the purposes of depreciation.