Which of the following is a recordable 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 which 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

A recordable transaction is one that involves a measurable exchange of economic resources. Loaning $500 to an employee is a financial transaction that affects the company's financial statements.

Which of the Following Is a Recordable Transaction for a Gardening