is an example of an implicit transaction.
A) Returning defective inventory
B) Paying wages which have been accrued
C) Accruing of interest expense
D) Paying cash for three months' rent in advance

Question

Quizplus · Accepted Answer

An implicit transaction is one that is recorded due to the passage of time or other events, rather than a direct exchange. Accruing interest expense is an implicit transaction as it recognizes interest that has accumulated over time.

Is an Example of an Implicit Transaction