A Business Transaction Creating an Inflow of Net Assets Resulting

question 58

Multiple Choice

A business transaction creating an inflow of net assets resulting from the sale of goods or services is a(n) :

• A) expense transaction.
• B) income transaction.
• C) cash disbursement.
• D) capital transaction.

Describe the design and importance of a letterhead in business communication.

Identify key parts of a business letter, including date line, salutation, complimentary close, and inside address.

Understand the characteristics and purposes of various types of reports in business communication.

Recognize the importance of a clear purpose statement using action verbs in report writing.

---

Definitions:

Hire-Purchase Agreement

A contract where an item is leased for a period of time and the lessee has the option to purchase the item at the end of the agreement.

False Information

Incorrect or misleading data presented as facts.

Breach of Warranty

A violation of the guarantees made about a product or service, which can lead to legal action for damages.

Compatible Equipment

Devices or machinery designed to work together without conflict or modification.