Which of the Following Types of Transactions May Not Typically

question 61

Multiple Choice

Which of the following types of transactions may not typically be accounted for using the cash method?

• A) sales of inventory.
• B) services.
• C) purchases of machinery.
• D) payments of debt.
• E) sales of securities by an investor.

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Definitions:

Military Necessity

A legal principle in international law that justifies the use of force in armed conflict, permitting measures not forbidden by international law to secure the ends of war.

Education

The process of receiving or giving systematic instruction, especially at a school or university, fostering knowledge, skill development, and critical thinking.

Contrabands

Illicit or prohibited goods typically smuggled to avoid taxation or import/export restrictions.

Federal Government

The national government of the United States, composed of three branches: legislative, executive, and judicial, to govern the country as a whole.