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Rs. 5,000 paid as rent of office premises in an/a _________
- a)Event
- b)Transaction
- c)Both
- d)None
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Rs. 5,000 paid as rent of office premises in an/a _________a)Eventb)Tr...
Explanation:
This question is related to the accounting concept of "transactions".
Transactions are defined as any financial event that affects a business's financial position and can be measured reliably.
In this case, the payment of rent for office premises is a financial event that affects the business's financial position and can be measured reliably. Therefore, it is considered a transaction.
Events, on the other hand, are occurrences that may or may not have a financial impact on the business. For example, attending a business conference may be considered an event, but it does not have a direct financial impact on the business.
Therefore, the correct answer is option B - Transaction.
This question is related to the accounting concept of "transactions".
Transactions are defined as any financial event that affects a business's financial position and can be measured reliably.
In this case, the payment of rent for office premises is a financial event that affects the business's financial position and can be measured reliably. Therefore, it is considered a transaction.
Events, on the other hand, are occurrences that may or may not have a financial impact on the business. For example, attending a business conference may be considered an event, but it does not have a direct financial impact on the business.
Therefore, the correct answer is option B - Transaction.
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Community Answer
Rs. 5,000 paid as rent of office premises in an/a _________a)Eventb)Tr...
Transaction means money realted as economic transation and event means something is on end like closing stock so here it is transation
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Rs. 5,000 paid as rent of office premises in an/a _________a)Eventb)Transactionc)Bothd)NoneCorrect answer is option 'B'. Can you explain this answer?
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