Which of the following statements describes an economic event from an accounting perspective?

Question

Quizplus · Accepted Answer

An economic event from an accounting perspective refers to an exchange of goods or services between an entity and another entity outside the company. Therefore, option D correctly describes an external event that involves exchanges between entities outside the company. Option A refers to a specific type of external event, but not all external events are recorded in accounting records. Option B is not entirely accurate, as some events may not have a source document but can still be identified and recorded in accounting records. Option C is a general principle of accounting, but does not specifically describe an economic event.

Which of the Following Statements Describes an Economic Event from an Accounting