Which of the following is an example of an economic event that should be recorded as an accounting transaction?
A) the purchase of supplies
B) the signing of a contract to build a new corporate headquarters
C) the appointment of a new Chief Executive Officer
D) the launch of a new marketing strategy

Question

Quizplus · Accepted Answer

The purchase of supplies is an economic event involving the exchange of goods and services for money, which impacts the financial position of a company and should be recorded as an accounting transaction.

Which of the Following Is an Example of an Economic