Which of the following is a business event that is considered a recordable transaction?
A)A company hires a new employee.
B)A customer purchases merchandise.
C)A company orders a product from a supplier.
D)An employee sends a purchase requisition to the purchasing department.

Question

Quizplus · Accepted Answer

A customer purchasing merchandise is a transaction that involves a financial exchange and can be recorded in the company's accounting system.

Option A is incorrect because hiring a new employee does not involve a financial exchange and is not considered a recordable transaction.

Option C is incorrect because ordering a product from a supplier is a transaction that involves a financial exchange, but it is not recordable until the product is received and an invoice is issued.

Option D is incorrect because sending a purchase requisition is an internal process that does not involve a financial exchange and is not considered a recordable transaction.

Which of the Following Is a Business Event That Is