Which of the following events cannot be quantified into dollars and cents and recorded as an accounting transaction?
A) The appointment of a new accounting firm to perform an audit.
B) The purchase of a new computer.
C) The sale of store equipment.
D) Payment of income taxes.

Question

Quizplus · Accepted Answer

The appointment of a new accounting firm is a non-financial event and cannot be quantified into dollars and cents. It is not recorded as an accounting transaction.

Which of the Following Events Cannot Be Quantified into Dollars