Accounting transactions are very important to a firm's operations. Which of the following activities would affect the firm's account balances?
A) buying and selling goods and services
B) interviewing prospective employees
C) understanding economic reports
D) forecasting consumer demand

Question

Quizplus · Accepted Answer

Accounting transactions will result in a change in two or more account balances. Forecasting consumer demand implies that this has yet to occur. Understanding economic reports does not require buying or selling items that would affect financial statements. Interviewing prospective employees also does not require buying or selling items or information. These therefore would not change any account balances.

Accounting Transactions Are Very Important to a Firm's Operations