CA Foundation Exam > CA Foundation Questions > Rs. 5,000 paid as rent of office premises in ...
Start Learning for Free
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?
Verified Answer
Rs. 5,000 paid as rent of office premises in an/a ___________a)Eventb)...
The correct answer is: Transaction
A transaction is an event or an action that involves the exchange of goods, services, or money between two parties. In this case, the payment of Rs. 5,000 as rent for office premises is a financial transaction.
A transaction is an event or an action that involves the exchange of goods, services, or money between two parties. In this case, the payment of Rs. 5,000 as rent for office premises is a financial transaction.
- A transaction typically involves a buyer and a seller.
- The exchange can be of goods, services, or money.
- Transactions are recorded in the financial books of a business for accounting and taxation purposes.
In contrast, an event is a broader term that can refer to any occurrence or happening, which may or may not involve financial transactions. An event can be a conference, a party, a seminar, or any other gathering that brings people together for a specific purpose.
To conclude, the payment of Rs. 5,000 as rent for office premises is a transaction, as it involves the exchange of money between two parties.
To conclude, the payment of Rs. 5,000 as rent for office premises is a transaction, as it involves the exchange of money between two parties.
Most Upvoted Answer
Rs. 5,000 paid as rent of office premises in an/a ___________a)Eventb)...
Explanation:
The given transaction involves payment of rent for office premises. Therefore, the correct option is B, i.e., Transaction.
A transaction can be defined as an exchange of goods, services, or money between two or more parties. In this case, the transaction involves the payment of rent for office premises. The payment of rent is an expense for the business and is recorded in the books of accounts as such.
The transaction of paying rent for office premises can be further explained as follows:
- Rent: Rent is the amount paid by the business for using the office premises.
- Office Premises: Office premises refer to the physical location where the business is conducted.
- Payment: Payment is the act of transferring money from one party to another in exchange for goods or services.
- Expense: An expense is a cost incurred by the business in order to generate revenue.
Therefore, the payment of rent for office premises is a transaction as it involves the exchange of money for the use of a physical location, which is necessary for the business to operate.
The given transaction involves payment of rent for office premises. Therefore, the correct option is B, i.e., Transaction.
A transaction can be defined as an exchange of goods, services, or money between two or more parties. In this case, the transaction involves the payment of rent for office premises. The payment of rent is an expense for the business and is recorded in the books of accounts as such.
The transaction of paying rent for office premises can be further explained as follows:
- Rent: Rent is the amount paid by the business for using the office premises.
- Office Premises: Office premises refer to the physical location where the business is conducted.
- Payment: Payment is the act of transferring money from one party to another in exchange for goods or services.
- Expense: An expense is a cost incurred by the business in order to generate revenue.
Therefore, the payment of rent for office premises is a transaction as it involves the exchange of money for the use of a physical location, which is necessary for the business to operate.
Free Test
FREE
| Start Free Test |
Community Answer
Rs. 5,000 paid as rent of office premises in an/a ___________a)Eventb)...
Transaction - when persons and money is involved
in the above illustration Rent is paid which
involves persons and money
Event - when no persons are involved and only money is
involved (eg.Depreciation, in depreciation we'll
incure losses but no person Is involved)
in the above illustration Rent is paid which
involves persons and money
Event - when no persons are involved and only money is
involved (eg.Depreciation, in depreciation we'll
incure losses but no person Is involved)
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
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?
Question Description
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? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about 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? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?.
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? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about 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? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?.
Solutions for 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? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of 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? defined & explained in the simplest way possible. Besides giving the explanation of
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?, a detailed solution for 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? has been provided alongside types of 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? theory, EduRev gives you an
ample number of questions to practice 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? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup