Which of the following would be treated as an accounting transaction for a gardening supply store?
A) The company signed an agreement to rent store space at $200 month.
B) The vice president of the company spoke at a luncheon that contributed to enhancing the company's reputation as a responsible company.
C) The company ordered supplies for $500.
D) The company loaned $500 to an employee.

Question

Quizplus · Accepted Answer

An accounting transaction involves a financial exchange that affects the company's financial statements. Loaning $500 to an employee is a financial transaction that will be recorded in the company's books.

Which of the Following Would Be Treated as an Accounting