Which of the following is an example of a financial transaction?
A)A firm purchases a fire insurance policy.
B)An internal auditor discovers an error in a firm's inventory valuation.
C)A potential customer accesses a firm's Web page.
D)A manager reviews the financial statements prepared by an accountant.

Question

Quizplus · Accepted Answer

A financial transaction involves the exchange of money or assets. Purchasing a fire insurance policy involves the payment of a premium in exchange for protection in case of fire damage. The other options do not involve an exchange of money or assets and are not considered financial transactions.

Which of the Following Is an Example of a Financial