Which one of the following is a characteristic of a valid business transaction? It is an event measurable in terms of money It affects the financial position of the business It should be supported by a source document All of the above
Which one of the following is a characteristic of a valid business transaction? It is an event measurable in terms of money It affects the financial position of the business It should be supported by a source document All of the above
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 5GI: Explain how the accounting equation organizes financial information using T-accounts and debits and...
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Which one of the following is a characteristic of a valid business transaction?
- It is an event measurable in terms of money
- It affects the financial position of the business
- It should be supported by a source document
- All of the above
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