Which of the following would not be recorded as an accounting transaction?
A)Issuing stock to owners in exchange for cash
B)Ordering supplies to be delivered next month
C)Selling inventory to customers in exchange for cash to be received next month
D)Paying the bank for a portion of a note payable

Question

Quizplus · Accepted Answer

A transaction is an event or activity that has a direct and measurable financial effect on the assets,liabilities,or stockholders' equity of a business.Ordering supplies is an activity that is not a transaction because no assets or services were exchanged at the time the order was placed.

Which of the Following Would Not Be Recorded as an Accounting