What Is the Minimum Number of Ways That a Transaction

question 25

Multiple Choice

What is the minimum number of ways that a transaction could effect the basic accounting equation?

• A)One.
• B)Two.
• C)Three.
• D)No minimum.

---

Definitions:

Prime Costs

The direct costs directly attributable to the manufacture of goods, typically including direct materials and direct labor costs.

Managerial Accounting

A field of accounting that focuses on providing financial and operational information to managers within an organization to aid in decision-making.

Decision Makers

Individuals or groups responsible for making choices that affect an organization's strategies and operations.

General Accounting

The comprehensive process of recording, analyzing, summarizing, and reporting the financial transactions of a business.