Which of the Following Statements Is True

question 12

Multiple Choice

Which of the following statements is true?

• A)Only the effects of internal transactions must be recognized and recorded in the accounting system.
• B)An internal transaction represents a business activity between an entity and its environment.
• C)Evidence used to record transactions affecting a business entity comes from source documents.
• D)Only the effects of external events must be recognized, measured, and recorded in an entity's accounting system.

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Definitions:

Metallic Elements

Elements that are good conductors of heat and electricity, have a shiny appearance, and are malleable and ductile.

Homogeneous Mixture

A mixture in which the composition is uniform throughout, such as solutions where the solute is completely dissolved in the solvent.

Sugar

A generic name for sweet-tasting, soluble carbohydrates, many of which are used in food.

Chromatography

A laboratory technique for the separation of a mixture by passing it through a medium in which the components move at different rates.