Any event that has a financial impact on the business and can be measured reliably is a(n):
A)income statement.
B)transaction.
C)asset.
D)journal.

Question

Quizplus · Accepted Answer

A transaction is an event that has a financial impact on the business and can be measured reliably. An income statement is a financial statement that shows the revenues, expenses, and net income of a business over a specific period. An asset is a resource owned by a business that has monetary value and can be used to generate future economic benefits. A journal is a record of financial transactions in chronological order.

Any Event That Has a Financial Impact on the Business